ASSIGNED RISK AS A LOTTERY WITH A DECISION TO BE OPTIMIZED.

Abstract

The assigned risk program for obtaining public liability insurance in connection with driving an automobile in California (and other places) was studied as a lottery, with a decision. A model of the lottery and a criterion for making the decision optimally were postulated. A general mathematical solution is given for the problem. This solution in nondimensional form for two distribution functions of practical numerical interest is presented. Approximate numerical results for any realistic case can be obtained readily with the help of this illustrated solution. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jul 01, 1964
Accession Number
AD0601911

Entities

People

  • Marilyn A. Brown

Tags

DTIC Thesaurus Topics

  • Automobiles
  • Business Administration
  • California
  • Continents
  • Distribution Functions
  • Finance
  • Functions (Mathematics)
  • Geographic Regions
  • Ground Vehicles
  • Insurance
  • Mathematics
  • Motor Vehicles
  • North America
  • Passenger Vehicles

Fields of Study

  • Mathematics

Readers

  • Fluid Dynamics.
  • Government and Public Administration Law.
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.