This document summarizes the results of an actuarial pricing game simulation with multiple insurance companies. It finds that:
1) In the initial game with all companies, premium levels varied widely between companies and market shares shifted significantly.
2) When additional data was provided in a second round, premium variability decreased but loss ratios were similar.
3) A smaller game with just three companies showed that the choice of pricing strategy (always cheapest vs. random between cheapest two) impacted market shares and loss ratios.
A Nash Equilibrium Game and Pareto Efficient Solution to A Cooperative Advert...iosrjce
We consider a manufacturer retailer channel co ordination in a scenario where the demand is
dependent on the price and the advertising expenditures by the manufacturer and the retailer, the channel
members. We extend a previous model developed by the authors to a non cooperative simultaneous move nash
game frame work. We also derive pareto efficient schemes in case of a cooperative problem.
Talk at the modcov19 CNRS workshop, en France, to present our article COVID-19 pandemic control: balancing detection policy and lockdown intervention under ICU sustainability
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
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how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Actuarial Pricing Game (Season 2)
A. Charpentier (Université de Rennes 1 & Chaire ACTINFO)
with R. Élie, J. Jakubowicz & F. Picard
Paris, 100% Data Science, November 2016.
http://freakonometrics.hypotheses.org
@freakonometrics 1
2. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
A Game with Rules... but no Goal
Warning 1
For participants: forget about individuals results, focus on the global picture
Warning 2
Difficult to pool the results together (some mistakes are probably mine...)
Warning 3
The ‘pricing game’ has rules.
But no goal was ever mentioned.
Every player played according to his/her goals.
@freakonometrics 2
3. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Context (and Apologies)
Two datasets : a training one, and a pricing one (without the losses in the later)
Step 1 : provide premiums to all contracts in the pricing dataset
Step 2 : (somme) premiums provided by competitors were given to players
Warning 4
Motor insurance, but on fleats : one ‘contract id.’, several vehicles
Warning 5
Technical issue : the exposure was still in the pricing dataset
Warning 6
!normalization:
n
i=1
π(j,1)
(xi) =
n
i=1
i = 2.5M
loss ratio = 100%
and
n
i=1
π(j,2)
(xi) = 2.35M, ∀j
@freakonometrics 3
4. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 1: Standard Pricing Game, a Global Overview
Consider an ordered sample {y1, · · · , yn} of in-
comes, with y1 ≤ y2 ≤ · · · ≤ yn, then Lorenz
curve is
{Fi, Li} with Fi =
i
n
and Li =
i
j=1 yj
n
j=1 yj
We have observed losses i and premiums
π(xi). Consider an ordered sample by the
model, see Frees, Meyers & Cummins (2014),
π(x1) ≥ π(x2) ≥ · · · ≥ π(xn), then plot
{Fi, Li} with Fi =
i
n
and Li =
i
j=1 j
n
j=1 j
@freakonometrics 4
5. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 1: Standard Pricing Game, a Global Overview
Dispersion of the premium, per company, π(1,j)
(xi), j ∈ {1, 2, · · · , 14, 14∗
}.
@freakonometrics 5
6. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Market Competition
Decision Rule: the insured selects randomly from the three cheapeast premium
cccccccccccc ccccccccccccc cccccccccccc ccccccccccccc cccccccccccc ccccccccccccc
cccccccccccc ccccccccccccc cccccccccccc ccccccccccccc
Ins2 Ins3 Ins4 Ins5 Ins6 Ins7
787.93 706.97 1032.62 907.64 822.58 603.83
170.04 197.81 285.99 212.71 177.87 265.13
473.15 447.58 343.64 410.76 414.23 425.23
337.98 336.20 468.45 339.33 383.55 672.91
@freakonometrics 6
7. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 1: Standard Pricing Game
Market shares of the 12 insurance companies
@freakonometrics 7
8. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 1: Standard Pricing Game
Premium variability (overall) and loss ratios of the 12 companies
@freakonometrics 8
9. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 2: Pricing Game with Additional Information
@freakonometrics 9
10. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 2: Pricing Game with Additional Information
New Lorentz curves:
order policies according to the premium
π(2,j)
(x1) ≥ π(2,j)
(x2) ≥ · · · ≥ π(2,j)
(xn)
then plot
{Fi, Li} with Fi =
i
n
and Li =
i
j=1 j
n
j=1 j
@freakonometrics 10
11. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 2: Pricing Game with Additional Information
Premium variability (overall) and loss ratios of the 12 companies
@freakonometrics 11
12. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 2: Pricing Game with Additional Information
Premium variability (overall) and loss ratios of the 11 companies
@freakonometrics 12
13. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Part 2: Pricing Game with Additional Information
Premium variability (overall) and loss ratios of the 12 and the 11 companies
@freakonometrics 13
14. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Smaller Market Competition (3 companies) : Step 1
@freakonometrics 14
15. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Smaller Market Competition (3 companies) : Step 2
@freakonometrics 15
16. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Smaller Market Competition (3 companies)
Decision Rule: out of 3 companies the insured selects (i) the cheapest premium
(ii) randomly from the two cheapeast premiums, with probabilities 2/3
(cheapest) and 1/3 (second cheapest)
Ins4 Ins5 Ins6 Ins4 Ins5 Ins6
787.93 706.97 1032.62 787.93 706.97 1032.62
170.04 197.81 285.99 170.04 197.81 285.99
473.15 447.58 343.64 473.15 447.58 343.64
337.98 336.20 468.45 337.98 336.20 468.45
@freakonometrics 16
17. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Smaller Market Competition (3 companies)
Step 1: market shares and loss ratios
@freakonometrics 17
18. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Smaller Market Competition (3 companies)
Step 2: market shares and loss ratios ((i) and (ii))
@freakonometrics 18
19. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Smaller Market Competition (3 companies)
Loss ratios, Step 2 vs. Step 1 ((i) and (ii))
@freakonometrics 19
20. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Behaviors of Insurance, Local Perspective: Ins4
Insurer 4 has informations about premiums provided by In-
surer 5 and Insurer 6 (after Step 1).
Only 50% of the premiums were observed.
Ins 5. vs. Ins 4. Ins 6. vs. Ins 4. Step 2 vs. Step 1.
@freakonometrics 20
21. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Behaviors of Insurance, Local Perspective: Ins5
Insurer 5 has informations about premiums provided by In-
surer 4 and Insurer 6 (after Step 1).
Only 50% of the premiums were observed.
Ins 4. vs. Ins 5. Ins 6. vs. Ins 5. Step 2 vs. Step 1.
@freakonometrics 21
22. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Behaviors of Insurance, Local Perspective: Ins6
Insurer 6 has informations about premiums provided by In-
surer 4 and Insurer 5 (after Step 1).
Only 50% of the premiums were observed.
Ins 4. vs. Ins 6. Ins 5. vs. Ins 6. Step 2 vs. Step 1.
@freakonometrics 22
23. Arthur CHARPENTIER, Pricing Game 100% Data Science - Institut des Actuaires 2016
Behaviors of Insurance, Local Perspective
Very different behaviors, for various insurance companies
Ins. 2 Ins. 13 Ins. 14
@freakonometrics 23