Distributions for the Effects of Risk

Uwe Wehrspohn and Dietmar Ernst
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Uwe Wehrspohn: Wehrspohn GmbH & Co. KG
Dietmar Ernst: University of Nürtingen-Geislingen (HfWU)

Chapter Chapter 2 in When Do I Take Which Distribution?, 2022, pp 9-42 from Springer

Abstract: Abstract To fully assess a risk, after the description of the occurrence of the risk, the amount of loss after occurrence is relevant. It is generally assumed that each occurrence causes an individual loss. Thus, if a risk occurs more than once, the total loss is the sum of the individual losses. The basic forms of distributions for individual losses include points, closed bands, open bands and distributions that combine several forms. The sum of individual losses combines a distribution for the frequency of occurrence of a risk with the distribution for the form of the individual occurrence.

Date: 2022
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DOI: 10.1007/978-3-031-07330-4_2

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