Insurance companies nowadays apply the principle of so-call… - Richard von Mises

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Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that persons who enter early into insurance contracts are on the average of a different type and have a different distribution of death ages from persons from persons admitted to the insurance at a more advanced age.

Richard von Mises

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About Richard von Mises

Richard von Mises (19 April 1883, Lviv – 14 July 1953, Boston) was a scientist and mathematician who worked on solid mechanics, fluid mechanics, aerodynamics, aeronautics, statistics and probability theory. He held the position of Gordon-McKay Professor of Aerodynamics and Applied Mathematics at Harvard University.

Also Known As

Alternative Names: Richard Edler von Mises • R. V. Mises • R. von Mises

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William Feller Karl Pearson Ivars Peterson Henri Poincaré Richard Hamming

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Equally possible cases do not always exist, e.g, they are not present in the game with a biased die, or in life insurance. Strictly speaking, the propositions of the classical theory are therefore no applicable to these cases.

We can only hope that statisticians will return to the use of the simple, lucid reasoning of Bayes's conceptions, and accord to the likelihood theory its proper role.

I am prepared to concede without further argument that all the theoretical constructions, including geometry, which are used in the various branches of physics are only imperfect instruments to enable the world of empirical fact to be reconstructed in our minds.

Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that pe… - Richard von Mises

About Richard von Mises

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