WP 2024

WP 2024-02 On The Convergence of Discrete-Time Stationary Regular Multivariate Markov Chains

Posted On February 26, 2024
Categories Working Papers, WP 2024

Download Paper

AUTHORS: Wynn C. Stirling and Don Ross

ABSTRACT: This paper extends stationary Markov chain convergence theory to model discrete-time regular multivariate Markov chains with joint-conditioning transition probability functions that condition the future state of each process on the present states of all processes considered jointly. This result is a formal… more »

WP 2024-01 Risk Preferences and Risk Perceptions in Insurance Experiments: Some Methodological Challenges

Download Paper

Forthcoming, The Geneva Risk and Insurance Review

AUTHORS: Glenn W. Harrison

ABSTRACT: The ability to run experiments, or to see natural data as a quasi-experiment, does not free one from the need for theory when evaluating insurance behavior. Theory can be used to motivate the experimental design, evaluate latent effects… more »