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"Strategy Periodicals"
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On a Periodic Capital Injection and Barrier Dividend Strategy in the Compound Poisson Risk Model
In this paper, we assume that the reserve level of an insurance company can only be observed at discrete time points, then a new risk model is proposed by introducing a periodic capital injection strategy and a barrier dividend strategy into the classical risk model. We derive the equations and the boundary conditions satisfied by the Gerber-Shiu function, the expected discounted capital injection function and the expected discounted dividend function by assuming that the observation interval and claim amount are exponentially distributed, respectively. Numerical examples are also given to further analyze the influence of relevant parameters on the actuarial function of the risk model.
Journal Article
Optimality of Hybrid Continuous and Periodic Barrier Strategies in the Dual Model
Avanzi et al. (ASTIN Bull 46(3): 709–746, 2016) recently studied an optimal dividend problem where dividends are paid both periodically and continuously with different transaction costs. In the Brownian model with Poissonian periodic dividend payment opportunities, they showed that the optimal strategy is either of the pure-continuous, pure-periodic, or hybrid-barrier type. In this paper, we generalize the results of their previous study to the dual (spectrally positive Lévy) model. The optimal strategy is again of the hybrid-barrier type and can be concisely expressed using the scale function. These results are confirmed through a sequence of numerical experiments.
Journal Article
Optimal dividends under Erlang(2) inter-dividend decision times with nonlinear surplus
In the classic dividend surplus model, initial surplus are generally fixed and premiums or incomes increased linearly. In our research, we consider that the initial surplus and income in the Erlang(2) dividend model will also change over time. This model contains both the continuous-time and the discrete-time risk model as a limit and represents a certain type of bridge between them which still enables the explicit calculation of moments of total discounted dividend payments until ruin. In this paper, we adopt Statistical methods to convert the differential equations with variable coefficients to ordinary differential equation and further study the optimal periodic barrier strategies when the initial surplus is dynamic and the income is nonlinear under the condition of the inter-dividend decision times follow Erlang(2) distribution.
Journal Article
On the Multi-Periodic Threshold Strategy for the Spectrally Negative Lévy Risk Model
As a crucial modeling tool for stochastic financial markets, the Lévy risk model effectively characterizes the evolution of risks during enterprise operations. Through dynamic evaluation and quantitative analysis of risk indicators under specific dividend- distribution strategies, this model can provide theoretical foundations for optimizing corporate capital allocation. Addressing the inadequate adaptability of traditional single-period threshold strategies in time-varying market environments, this paper proposes a dividend strategy based on multiperiod dynamic threshold adjustments. By implementing periodic modifications of threshold parameters, this strategy enhances the risk model’s dynamic responsiveness to market fluctuations and temporal variations. Within the framework of the spectrally negative Lévy risk model, this paper constructs a stochastic control model for multiperiod threshold dividend strategies. We derive the integro-differential equations for the expected present value of aggregate dividend payments before ruin and the Gerber–Shiu function, respectively. Combining the methodologies of the discounted increment density, the operator introduced by Dickson and Hipp, and the inverse Laplace transforms, we derive the explicit solutions to these integro-differential equations. Finally, numerical simulations of the related results are conducted using given examples, thereby demonstrating the feasibility of the analytical method proposed in this paper.
Journal Article
An Enhanced Multi-Strategy Mantis Shrimp Optimization Algorithm and Engineering Implementations
This paper proposes a novel intelligent optimization algorithm, ICPMSHOA, that effectively balances population diversity and convergence performance by integrating an iterative chaotic map with infinite collapses (ICMIC), centroid opposition-based learning, and periodic mutation strategy. To verify its performance, we adopted benchmark functions from the IEEE CEC 2017 and 2022 standard test suites and compared it with six algorithms, including OOA and BWO. The results show that ICPMSHOA has significant improvements in convergence speed, global search capability, and stability, with statistically significant advantages. Furthermore, the algorithm performs outstandingly in three practical engineering constrained optimization problems: Haverly’s pooling problem, hybrid pooling–preparation problem, and optimization design of industrial refrigeration systems. This study confirms that ICPMSHOA provides efficient and reliable solutions for complex optimization tasks and has strong practical value in engineering scenarios.
Journal Article
On optimal periodic dividend and capital injection strategies for spectrally negative Lévy models
De Finetti’s optimal dividend problem has recently been extended to the case when dividend payments can be made only at Poisson arrival times. In this paper we consider the version with bail-outs where the surplus must be nonnegative uniformly in time. For a general spectrally negative Lévy model, we show the optimality of a Parisian-classical reflection strategy that pays the excess above a given barrier at each Poisson arrival time and also reflects from below at 0 in the classical sense.
Journal Article
Spectrally Negative Lévy Risk Model Under Multi-Layer Ratcheting Dividend Strategy and Capital Injections
In this study, we investigate the mixed n-layer ratcheting dividend and capital injection policies for a spectrally negative Lévy risk model, where dividend distributions are implemented continuously in a non-decreasing manner, and capital injections are conducted discretely at the jump instants of an independent Poisson process. We incorporate both terminal values and transaction costs into the analysis, making the model more in line with practical scenarios. The value function and the Laplace transform of the ruin time are derived by leveraging Lévy fluctuation theory, and all the obtained results are formulated in terms of scale functions. Furthermore, numerical examples based on the classic risk model are provided to illustrate the theoretical findings.
Journal Article
On the improved thinning risk model under a periodic dividend barrier strategy
In this study, we consider a periodic dividend barrier strategy in an improved thinning risk model, which indicates that insurance companies randomly receive premiums and pay dividends. In the improved model, the premium is stochastic, and the claim counting process is a p-thinning process of the premium counting process. The integral equations satisfied by the Gerber-Shiu function and the expected discounted cumulative dividend function are derived. Explicit expressions of those actuarial functions are obtained when the claim and premium sizes are exponentially distributed. We analyze and illustrate the impact of various parameters on them and obtain the optimal barrier. Finally, a conclusion is drawn.
Journal Article
Periodic Fever Syndromes
This chapter contains sections titled:
Introduction
Familial Mediterranean fever
Hyper ‐ IgD syndrome
Tumour necrosis factor receptor ‐ associated periodic syndromes (familial Hibernian fever)
Cryopirin ‐ associated periodic syndromes
Periodic fever, aphthous, pharyngitis and cervical adenitis
References
Book Chapter