{"id":"https://openalex.org/W2158469639","doi":"https://doi.org/10.1109/wsc.2003.1261431","title":"Applications of simulation models in finance and insurance","display_name":"Applications of simulation models in finance and insurance","publication_year":2004,"publication_date":"2004-05-13","ids":{"openalex":"https://openalex.org/W2158469639","doi":"https://doi.org/10.1109/wsc.2003.1261431","mag":"2158469639"},"language":"en","primary_location":{"id":"doi:10.1109/wsc.2003.1261431","is_oa":false,"landing_page_url":"https://doi.org/10.1109/wsc.2003.1261431","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 2003 International Conference on Machine Learning and Cybernetics (IEEE Cat. No.03EX693)","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5074079736","display_name":"Thomas N. Herzog","orcid":null},"institutions":[{"id":"https://openalex.org/I1318242428","display_name":"United States Department of Housing and Urban Development","ror":"https://ror.org/014a5gx79","country_code":"US","type":"government","lineage":["https://openalex.org/I1318242428"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"T.N. Herzog","raw_affiliation_strings":["Office of Evaluation, U.S. Department of Housing and Urban Development, Washington D.C., DC, USA"],"affiliations":[{"raw_affiliation_string":"Office of Evaluation, U.S. Department of Housing and Urban Development, Washington D.C., DC, USA","institution_ids":["https://openalex.org/I1318242428"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5027388036","display_name":"Graham Lord","orcid":null},"institutions":[{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"G. Lord","raw_affiliation_strings":["Department of Operations Research and Financial Engineering, Princeton University, Princeton, NJ, USA"],"affiliations":[{"raw_affiliation_string":"Department of Operations Research and Financial Engineering, Princeton University, Princeton, NJ, USA","institution_ids":["https://openalex.org/I20089843"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5074079736"],"corresponding_institution_ids":["https://openalex.org/I1318242428"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":3,"citation_normalized_percentile":{"value":0.21411735,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":94},"biblio":{"volume":"3","issue":null,"first_page":"249","last_page":"257"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9977999925613403,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12394","display_name":"Insurance and Financial Risk Management","score":0.9977999925613403,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12011","display_name":"Insurance, Mortality, Demography, Risk Management","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/3317","display_name":"Demography"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.9866999983787537,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/equity","display_name":"Equity (law)","score":0.6146485805511475},{"id":"https://openalex.org/keywords/actuarial-science","display_name":"Actuarial science","score":0.5439176559448242},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.49486273527145386},{"id":"https://openalex.org/keywords/property-insurance","display_name":"Property insurance","score":0.4654553532600403},{"id":"https://openalex.org/keywords/context","display_name":"Context (archaeology)","score":0.44896697998046875},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.33164888620376587},{"id":"https://openalex.org/keywords/insurance-policy","display_name":"Insurance policy","score":0.2515595555305481},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.2098875343799591},{"id":"https://openalex.org/keywords/general-insurance","display_name":"General insurance","score":0.19155368208885193}],"concepts":[{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.6146485805511475},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.5439176559448242},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.49486273527145386},{"id":"https://openalex.org/C5891342","wikidata":"https://www.wikidata.org/wiki/Q2868302","display_name":"Property insurance","level":4,"score":0.4654553532600403},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.44896697998046875},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.33164888620376587},{"id":"https://openalex.org/C68799949","wikidata":"https://www.wikidata.org/wiki/Q977871","display_name":"Insurance policy","level":2,"score":0.2515595555305481},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.2098875343799591},{"id":"https://openalex.org/C14293393","wikidata":"https://www.wikidata.org/wiki/Q2663825","display_name":"General insurance","level":3,"score":0.19155368208885193},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/wsc.2003.1261431","is_oa":false,"landing_page_url":"https://doi.org/10.1109/wsc.2003.1261431","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 2003 International Conference on Machine Learning and Cybernetics (IEEE Cat. No.03EX693)","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320310017","display_name":"University of Connecticut","ror":"https://ror.org/02der9h97"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":7,"referenced_works":["https://openalex.org/W621279535","https://openalex.org/W1551275368","https://openalex.org/W2081423892","https://openalex.org/W2186645394","https://openalex.org/W3121306662","https://openalex.org/W3122409824","https://openalex.org/W6666552783"],"related_works":["https://openalex.org/W4399653640","https://openalex.org/W1597535426","https://openalex.org/W2803760247","https://openalex.org/W3096441341","https://openalex.org/W4241837356","https://openalex.org/W1498171773","https://openalex.org/W2373323176","https://openalex.org/W1597761639","https://openalex.org/W2065366609","https://openalex.org/W2127751271"],"abstract_inverted_index":{"We":[0,77],"describe":[1],"a":[2,22,26,64],"number":[3],"of":[4,6,21,25,36,55,60,71,73,82,87,92],"applications":[5],"simulation":[7,20,56,83],"methods":[8],"to":[9],"practical":[10],"problems":[11],"in":[12,57,84],"finance":[13],"and":[14],"insurance.":[15],"The":[16,30,50],"first":[17],"entails":[18],"the":[19,34,58,69,85,88,93],"two-stage":[23],"model":[24],"property-casualty":[27],"insurance":[28,38],"operation.":[29],"second":[31],"application":[32,54,81],"simulates":[33],"operation":[35],"an":[37,53,80],"regime":[39],"for":[40,67],"home":[41],"equity":[42],"conversion":[43],"mortgages":[44],"(also":[45],"known":[46],"as":[47],"reverse":[48],"mortgages).":[49],"third":[51],"is":[52],"context":[59],"Value":[61],"at":[62],"Risk,":[63],"widely-used":[65],"measure":[66],"assessing":[68],"performance":[70],"portfolios":[72],"assets":[74],"and/or":[75],"liabilities.":[76],"conclude":[78],"with":[79],"testing":[86],"efficient":[89],"market":[90],"hypothesis":[91],"U.S.":[94],"stock":[95],"market.":[96]},"counts_by_year":[{"year":2012,"cited_by_count":1}],"updated_date":"2026-02-25T21:11:00.739837","created_date":"2025-10-10T00:00:00"}
