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|a 9783031009280
|q (electronic bk.)
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|z 9783031009273
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|a (MiAaPQ)EBC7013146
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|a (Au-PeEL)EBL7013146
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|a (OCoLC)1329974491
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|a MiAaPQ
|b eng
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|c MiAaPQ
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|a QA276-280
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|a Milevsky, Moshe Arye.
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|a How to Build a Modern Tontine :
|b Algorithms, Scripts and Tips.
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| 250 |
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|a 1st ed.
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| 264 |
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|a Cham :
|b Springer International Publishing AG,
|c 2022.
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|c Ã2022.
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|a 1 online resource (169 pages)
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| 336 |
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|a text
|b txt
|2 rdacontent
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| 337 |
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|a computer
|b c
|2 rdamedia
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| 338 |
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|a online resource
|b cr
|2 rdacarrier
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| 490 |
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|a Future of Business and Finance Series
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|a Intro -- Preface -- Acknowledgements -- Contents -- About the Author -- List of Figures -- List of Tables -- 1 Why Tontines? Why Now? -- 1.1 Retirement vs. Decumulation -- 1.2 Annuity Benefits: Credits vs. Insurance -- 1.3 How Does This Book Differ from All the Other Books? -- 1.4 Outline and Plan -- 1.5 Tontine Literature: What (and Who) Else to Read -- 1.5.1 A. Chen -- 1.5.2 J.M. Bravo -- 1.5.3 C. Donnelly -- 1.5.4 R.K. Fullmer -- 1.5.5 M. Guillen -- 1.5.6 S. Haberman -- 1.5.7 J. Piggott -- 1.5.8 E. Pittacco -- 1.5.9 R. Rogalla -- 1.5.10 T.S. Salisbury -- 1.5.11 M.J. Sabin -- 1.5.12 M. Sherris -- 1.5.13 M.J. Stamos -- 1.5.14 J.H. Weinert -- References -- 2 Financial and Actuarial Background -- 2.1 Setting the Stage -- 2.2 Investment Returns: Notation and Moments -- 2.3 But Why Logarithms? -- 2.4 Gompertz Survival Probabilities -- 2.5 Need-to-Know: Annuity Values -- 2.5.1 Life Only Immediate Annuity -- 2.5.2 Refund at Death IA -- References -- 3 Building a Tontine Simulation in R -- 3.1 On Rates, Yields and Returns -- 3.2 Life & -- Death: Known Parameters -- 3.2.1 Doubly Stochastic Death -- 3.3 Investment Returns -- 3.4 Dividend & -- Fund Values -- 3.4.1 Temporary Life Income Annuities -- 3.4.2 A Perfect Fund Value Over Time -- 3.4.3 Fixed Rules in a Variable World -- 3.4.4 The Natural Tontine Rule -- 3.4.5 The Cumulative Payout -- 3.5 Conclusion and What's Next -- 3.6 Test Yourself -- 4 Statistical Risk Management -- 4.1 Stable Tontine Dividends: Defined -- 4.2 Riskier Portfolios and Wider Bands -- 4.3 What's Worse: Mortality or Markets? -- 4.4 Excess Life -- 4.5 Conclusion and What's Next -- 4.6 Test Yourself -- 5 Death Benefits, Refunds and Covenants -- 5.1 Set Your Seed -- 5.2 Can You Get Your Money Back? -- 5.3 Modern Tontine v2.0 -- 5.4 The Intuition of Refunds -- 5.5 The Tontine Dashboard -- 5.6 Lapses, Surrenders and Other Regrets.
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|a 5.7 The Final Act: Version 3.0 -- 5.8 Conclusion -- 5.9 Test Yourself -- 6 Goodbye LogNormal Distribution -- 6.1 Statement of the Historical Problem -- 6.2 Measuring Skewness and Kurtosis -- 6.3 Continuously Compounded vs. Effective Annual -- 6.4 Quantile Plots of Investment Returns -- 6.5 Serial Autocorrelation of Returns -- 6.6 The SP500 Total Return -- 6.7 Path Forward for Deviations from LogNormality -- 6.8 Basic Historical Bootstrap -- 6.9 Monthly to Annual -- 6.10 How Do Higher Moments Affect Tontine Payouts? -- 6.11 Conclusion: How Much Should We Worry? -- 6.12 Test Yourself -- 7 Squeezing the Most from Mortality -- 7.1 Assumptions Versus Realizations -- 7.2 No Mortality: Natural Decumulation -- 7.3 Isolating Mortality Credits -- 7.4 Fitting Gompertz at the Table -- 7.5 A Look Under the (Mortality) Table -- 7.6 Projection Factors: Today vs. the Future -- 7.7 Working Discretely -- 7.8 Test Yourself -- 8 Managing a Competitive Tontine Business -- 8.1 Floors & -- Failure -- 8.2 Mixing Cohorts, Genders and Initial Sums -- 8.3 Test Yourself -- 9 Solutions and Advanced Hints -- 9.1 Chapter 3: Brief Solutions to Test Yourself Qs. -- 9.2 Chapter 4: Brief Solutions to Test Yourself Qs. -- 9.3 Chapter 5: Brief Solutions to Test Yourself Qs. -- 9.4 Chapter 6: Brief Solutions to Test Yourself Qs. -- 9.5 Chapter 7: Brief Solutions to Test Yourself Qs. -- 9.6 Chapter 8: Brief Solutions to Test Yourself Qs. -- 10 Concluding Remarks: Tontine Thinking -- 10.1 What Is Modern About a Tontine? -- Correction to: Concluding Remarks: Tontine Thinking.
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|a Description based on publisher supplied metadata and other sources.
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| 590 |
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|a Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2023. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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| 655 |
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|a Electronic books.
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| 776 |
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|i Print version:
|a Milevsky, Moshe Arye
|t How to Build a Modern Tontine
|d Cham : Springer International Publishing AG,c2022
|z 9783031009273
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| 797 |
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|a ProQuest (Firm)
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| 830 |
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|a Future of Business and Finance Series
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| 856 |
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0 |
|u https://ebookcentral.proquest.com/lib/matrademy/detail.action?docID=7013146
|z Click to View
|
