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Published in:
1995 | OriginalPaper | Chapter
Other Loss Functions. Other Premium Calculation Principles
Author : Jean Lemaire
Published in: Bonus-Malus Systems in Automobile Insurance
Publisher: Springer Netherlands
Included in: Professional Book Archive
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In chapter 10, it was shown that a bonus-malus system based on the expected value principle obtains when a quadratic loss function is used. Although this type of loss function possesses important theoretical properties, more often than not the main reason for using it lies in the simplicity of computations.