Konstantins Didenko

Modelling of Stability of Economic Systems Using Benchmarking and Dynamic Programming

Crucial component of the successful performance of an economic system (ECSYS) is maintenance of an optimality of functioning of all industrial and economic criteria of the given system. The purpose of the given work is stochastic modelling of the stability of ECSYS. The process of deterministic and stochastic modelling of ECSYS stability is considered in the conditions of uncertainty using benchmarking and dynamic programming method by Bellman.

Computer Realization of Algorithms for Minimisation of Financial Risks

The operation of insurance companies accumulates several risks that should be managed. One of the risk management and containment types is reinsurance. Risks related to reinsurance are the following: fluctuation risk, risk of errors, risk of change, risk of prediction and assessment, subjective risk, and premium delay risk. Reinsurance as the limiting type of fluctuation risk is a transaction, under which one insurance company (reinsurer) agrees to indemnify to another insurance company (transferor) all or part of the losses identified under the insurance policy or a group of insurance policies issued, and for risk mitigation the transferor pays the premium to the reinsurer. The object of the paper is the minimisation of insurance risks. The main overall goal of reinsurance is to protect the insurance company from considerable claims or a lot of claims and to maintain sufficient capital ratio of insurance companies. The goal is modelling of the insurance process and computer realisation of the algorithm for minimisation of financial risks in insurance

Applying Multi-Criteria Analysis Methods for Fire Risk Assessment

Abstract The aim of this paper is to prove the application of multi-criteria analysis methods for optimisation of fire risk identification and assessment process. The object of this research is fire risk and risk assessment. The subject of the research is studying the application of analytic hierarchy process for modelling and influence assessment of various fire risk factors. Results of research conducted by the authors can be used by insurance companies to perform the detailed assessment of fire risks on the object and to calculate a risk extra charge to an insurance premium; by the state supervisory institutions to determine the compliance of a condition of object with requirements of regulations; by real state owners and investors to carry out actions for decrease in degree of fire risks and minimisation of possible losses.

Investigation of Economic Systems Using Modelling Method with Copula

In the twenty-first century economic researches using statistical modelling methods have numerous challenges and opportunities, calling for increasing numbers of non-traditional statistical approaches. Statistical modelling is one of the most widespread methods of research of economic systems. The selection of methods of modelling of economic systems depends on a great number of conditions (modelling components) of the system being researched. The method of statistical modelling allows developing different scenarios of functioning of the economic systems. Statistical modelling may be used for tackling a wide range of economic problems (design and analysis of industrial systems, stock management, balancing of production capacities, allocation of investment funds, optimization of investment funds, optimization of insurance system etc.). Modelling is frequently associated with the factor of uncertainty (or risk), the description of which is not possible with traditional statistical modelling methods. This makes the modelling process more complicated.