A Simple Monte Carlo Approach to Bayesian Graduationavailable for many years, the recent shift of primary ac- tuarial education from a deterministic to ... methods because the results "don't look right." The primary references in the Bayesian graduation literature ...
Description: This paper presents simple Bayesian graduation models that substantially ease the prior elicitation burden, and also describes a Monte Carlo integration approach that greatly reduces the computational load.Hide
- Authors: Bradley P Carlin
- Date: Oct 1992
- Competency: Technical Skills & Analytical Problem Solving
- Publication Name: Transactions of the SOA
- Topics: Modeling & Statistical Methods>Estimation methods