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  #1  
Old 03-31-2017, 02:07 PM
AMedActuary AMedActuary is offline
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Default Actuarial Science in R

Hi everyone,

I just got this book and it looks pretty interesting. Amazon recently discounted it down to $28 so now's the time to buy if you want it.

Does anyone have any chapters they've found helpful? I think the only downside is that it's more of an introduction to each topic and more resources might be needed depending on your application.

Besides the introductory R chapter, I plan on going through these ones:

2. Standard Statistical Inference--Good review and some information on copulas which I'm not familiar with.

3. Bayesian Philosophy--I've read other books on Bayesian statistics but this looks like a good review and summary. They do give some simple models written in JAGS and Stan which are the modern tools for Bayesian MCMC estimation.

4. Statistical Learning--Looks like a decent intro.

6. Reinsurance and Extremal Events--This looks very interesting and it is difficult to find modern material on extreme value theory. Definitely plan on going through this chapter and doing a study on my company's data when I have some time. I also found this useful introduction to EVT in R.

7-13: Life Insurance and Finance--might skim through this but probably not too useful for me since I work in Health but could be useful for others.

14-16: Non-Life Insurance--Looks like a good overview and definitely excited to dig into doing claim reserving with R. I've looked at the ChainLadder package but I would like to dig into it more.

Also, the actuar package looks pretty interesting. Looks like Exam C on steroids. I definitely plan on checking out that one too in the future. It looks like chapter 2 uses this package.

Anyone else have any review of this book or interesting packages in R for actuaries?

Last edited by AMedActuary; 03-31-2017 at 02:13 PM..
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  #2  
Old 03-31-2017, 02:26 PM
Clem Koi Clem Koi is offline
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inb4 Whoa and Clarinetist
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  #3  
Old 03-31-2017, 02:49 PM
CuriousGeorge CuriousGeorge is offline
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They must have only had the one copy, because they're out of stock now.
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Old 03-31-2017, 04:11 PM
clarinetist clarinetist is offline
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I saw it, but didn't want to bother getting it.

My time these days is being spent on learning Bayesian statistics and ML.
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Why I hate Microsoft Access.

Studying/Reading: Statistical Inference, Bayesian Data Analysis
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  #5  
Old 03-31-2017, 04:13 PM
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Quote:
Originally Posted by clarinetist View Post
I saw it, but didn't want to bother getting it.

My time these days is being spent on learning Bayesian statistics and ML.
money laundering?
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Old 03-31-2017, 04:20 PM
clarinetist clarinetist is offline
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Quote:
Originally Posted by db20 View Post
money laundering?
Maybe I'm missing some reference here, but I do spend a lot of money on textbooks, unlike most people I've known.
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  #7  
Old 03-31-2017, 05:08 PM
AMedActuary AMedActuary is offline
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While it is out of stock, you can put in an order (at the low price) and they'll ship it when it's back in stock.

Clarinetist, I agree for machine learning and Bayesian statistics, there are better books. I mainly got this one for the actuarial applications.
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  #8  
Old 04-04-2017, 09:45 AM
examsarehard examsarehard is offline
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I found the Bayesian Chapter helpful, especially the discussion at the end regarding some of the theoretical and practical issues likely to come up in actuarial work. The chapter, along with some papers by Glenn Meyers, pointed our company to explore Stan for MCMC.
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Old 04-04-2017, 04:43 PM
AMedActuary AMedActuary is offline
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Yes Stan is my favorite for MCMC. With 'rstanarm' and 'shinystan', I find it much better than JAGS. Writing a model directly in Stan can be more difficult to get used to but other than that, it's a great tool for MCMC.
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Old 04-04-2017, 05:11 PM
examsarehard examsarehard is offline
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Have you tried the brms package? It allows you to write the model in R formula syntax without needing to write it in Stan. It also outputs the Stan code in case you need to modify it.
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