Robbins (1968) considered the problem of estimating the total probability of the unobserved outcomes of an experiment. In this paper we suggest an estimator, based on n trials, and show that under ...

Insurance can effectively mitigate significant operational risks. However, not all losses are insurable, and payments of covered losses are not generally reimbursed in full for reasons including the ...

In this paper, we propose Vasicek-type models for estimating portfolio-level probability of default (PD). With these Vasicek models, asset correlation and long-run PD (LRPD) for a risk-homogeneous ...

Probability is about estimating or calculating how likely or probable something is to happen. Probabilities can be described in words. For example, the chance of an event happening could be ‘certain’, ...

Probability is about estimating or calculating how likely or 'probable' something is to happen. The chance of an event happening can be described in words, for example ‘certain’, ‘impossible’ or ...