Monte Carlo Methods and Models in Finance and Insurance

Offering a unique balance between applications and calculations, Monte Carlo Methods and Models in Finance and Insurance incorporates the application background of finance and insurance with the theory and applications of Monte Carlo methods. It presents recent methods and algorithms, including the multilevel Monte Carlo method, the statistical Romberg method, and the Heath-Platen estimator, as well as recent financial and actuarial models, such as the Cheyette and dynamic mortality models.# Provides detailed descriptions of financial and actuarial models and Monte Carlo simulation algorithms
# Enables readers to find the right algorithm for a desired application
# Illustrates complicated methods and algorithms with simple applications to provide an easy understanding of key properties
# Describes recent financial models and Monte Carlo simulation methods