The effects of quantized data

William S. Jewell

Applied Stochastic Models and Data Analysis, 1995, vol. 11, issue 3, 201-216

Abstract: The effects of quantized data upon parameter estimation are investigated by re‐examining a variety of simple and complicated risk models previously studied by the author. In spite of this unifying theme, no general principles arise, except for demonstrating that estimation in models with two or more parameters can lead to unpredictable results, with or without the introduction to discrete data. In fact, certain common actuarial models are shown always to have poor estimation properties, even using substantial amounts of continuous data The paper concludes with a plea for the redevelopment of classical models that are continuous in nature, rather than perpetuating the current discrete multi‐parameter models, whose estimation properties are poor, since modern technology now permits inexpensive capture of all kinds of continuous data.

Date: 1995
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https://doi.org/10.1002/asm.3150110303

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Persistent link: https://EconPapers.repec.org/RePEc:wly:apsmda:v:11:y:1995:i:3:p:201-216

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