Apply Buhlmann and Buhlmann-Straub models and understand their relationship to Bayesian models.
Free SOA Exam ASTAM (Advanced Short-Term Actuarial Mathematics) lesson in Credibility. 36 min read, ~5,353 words.
Buhlmann credibility:, with. Credibility premium:, a convex combination of sample and collective. Buhlmann-Straub: with exposures, and where is EPV per unit exposure. Bayes link: Buhlmann is the least-squares linear approximation to the Bayesian premium. Exact equality with Bayes when the conditional model is linear exponential family with conjugate prior (Poisson-Gamma...
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What this lesson covers
- Content
- Example 1
- Example 2
- Example 3
- Example 4
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- 5b
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