IDEAS home Printed from https://ideas.repec.org/a/inm/oropre/v12y1964i4p582-585.html
   My bibliography  Save this article

Random Walks, Fire Damage Amount and Other Paretian Risk Phenomena

Author

Listed:
  • Benoit Mandelbrot

    (Harvard University and I. B. M. Corporation)

Abstract

Being one of the oldest branches of operations research, actuarial science has accumulated a substantial store of knowledge about the risks associated with living. The present paper will discuss one such question. Although it is relative to a specific problem of fire casualty, it illustrates more generally why the Paretian distribution of incomes and fortunes should constitute “a source of anxiety for the risk theory of insurance.” Very similar mechanisms apply in many other problems.

Suggested Citation

  • Benoit Mandelbrot, 1964. "Random Walks, Fire Damage Amount and Other Paretian Risk Phenomena," Operations Research, INFORMS, vol. 12(4), pages 582-585, August.
    • Handle: RePEc:inm:oropre:v:12:y:1964:i:4:p:582-585
    DOI: 10.1287/opre.12.4.582
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/opre.12.4.582
    Download Restriction: no
    File URL: https://libkey.io/10.1287/opre.12.4.582?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Louis Anthony (Tony) Cox, Jr., 2012. "Community Resilience and Decision Theory Challenges for Catastrophic Events," Risk Analysis, John Wiley & Sons, vol. 32(11), pages 1919-1934, November.
    2. Corinne Sinner & Yves Dominicy & Julien Trufin & Wout Waterschoot & Patrick Weber & Christophe Ley, 2023. "From Pareto to Weibull – A Constructive Review of Distributions on ℝ+," International Statistical Review, International Statistical Institute, vol. 91(1), pages 35-54, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:oropre:v:12:y:1964:i:4:p:582-585. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.