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Astin Bulletin
Article
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Astin Bulletin
Article . 2004 . Peer-reviewed
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Article . 2004
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An Application of Linear Programming to Bonus Malus System Design

An application of linear programming to bonus malus system design
descriptionPublicationkeyboard_double_arrow_right Article 01 Nov 2004 English Publisher:Cambridge University Press (CUP)Journal:ASTIN Bulletin, volume 34, pages 435-456 (issn: 0515-0361, eissn: 1783-1350, Copyright policy )
Authors: Heras, Antonio; Gil, José A.; García-Pineda, Pilar; Vilar, José L.;

doi: 10.2143/ast.34.2.505152

An Application of Linear Programming to Bonus Malus System Design

Abstract

The purpose of this paper is to show how linear programming methodology can help us to design Bonus-Malus premium scales with some interesting theoretical and practical attributes. Examples of these properties are the financial equilibrium of the system, the monotonicity and proper variability of the premium scale, and the improvement of some efficiency measures such as the RSAL and the elasticity of the system. We will conclude that the use of the linear programming methodology makes possible a high degree of interaction between the designer and the mathematical model.

Related Organizations
Keywords

linear goal programming, Risk theory, insurance, premium variability, bonus-malus systems, elasticity, Special problems of linear programming (transportation, multi-index, data envelopment analysis, etc.), RSAL

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
4
Average
Top 10%
Average
bronze