Artikel
On modelling insurance data by using a generalized lognormal distribution
In this paper, a new heavy-tailed distribution is used to model data with a strong right tail, as often occurs in practical situations. The distribution proposed is derived from the lognormal distribution, by using the Marshall and Olkin procedure. Some basic properties of this new distribution are obtained and we present situations where this new distribution correctly reflects the sample behaviour for the right tail probability. An application of the model to dental insurance data is presented and analysed in depth. We conclude that the generalized lognormal distribution proposed is a distribu- tion that should be taken into account among other possible distributions for insurance data in which the properties of a heavy-tailed distribution are present.
- Language
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Englisch
- Bibliographic citation
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Journal: Revista de Métodos Cuantitativos para la Economía y la Empresa ; ISSN: 1886-516X ; Volume: 18 ; Year: 2014 ; Pages: 146-162 ; Sevilla: Universidad Pablo de Olavide
- Classification
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Wirtschaft
- Subject
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heavy-tailed
insurance
lognormal distribution
loss distribution
- Event
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Geistige Schöpfung
- (who)
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García, Victoriano J.
Gómez-Déniz, Emilio
Vázquez-Polo, Francisco J.
- Event
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Veröffentlichung
- (who)
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Universidad Pablo de Olavide
- (where)
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Sevilla
- (when)
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2014
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- García, Victoriano J.
- Gómez-Déniz, Emilio
- Vázquez-Polo, Francisco J.
- Universidad Pablo de Olavide
Time of origin
- 2014
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