A Note on Bonus Scales

João Manuel Andrade e Silva and Maria de Lourdes Centeno

Journal of Risk & Insurance, 2005, vol. 72, issue 4, pages 601-607

Abstract: We revisit the optimal bonus scales introduced by Norberg (Norberg, R., 1976, "Scandinavian Actuarial Journal" (2): 92-107), Borgan, Hoem, and Norberg (Borgan, O., J. Hoem, and R. Norberg, 1981, "Scandinavian Actuarial Journal" (2): 165-178), and Gilde and Sundt (Gilde, V., and B. Sundt, 1989, "Scandinavian Actuarial Journal" (1): 13-22) and underline some potential problems of the linear scales. As a possible solution we propose the use of geometric scales. Copyright The Journal of Risk and Insurance.

Date: 2005

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