Comments (5)
Hi,
I did not developed this function myself, however I think this is the case because the oldest AY in the triangle is assumed to be fully developed, hence IBNR is set to zero and the S.E. is set to zero as well.
from chainladder.
Yes, but wouldn't that be true for the Mack estimates as well? Ultimates for both methods are the same except for the missing first origin period.
from chainladder.
It is true for the Mack method as well. And yes, as long you choose an odp distribution, ultimates are the same. Regarding the fact of showing or not showing the first row, it is only a style choice, it doesn't add any additional information related to IBNR or CV.
from chainladder.
I see - thanks for the quick reply! For extra context, I was looking to compare projections between different methods, potentially select one of them if results were appropriate, then take the results further for additional data processing within an R based pipeline.
So I used the two different summary properties and functions above, which each seemed to produce the relevant summaries for the models. In doing so would I be misunderstanding the use of the methods or the goals of this package?
from chainladder.
The goal of the package is to provide reserving methodologies and analysis in the context of loss reserving. And that's exactly what you're doing, trying different methods and compare the results, so you're spot on. Beware that the results returned will not tell you which is the "best" method. That depends on your specific case and the prior knowledge about the specific environment you're dealing with.
from chainladder.
Related Issues (20)
- Mack chainladder provides different standarized residuals. HOT 8
- MultiChainLadder plot error when NA's in triangle HOT 1
- Triangle with empty values in early development periods HOT 27
- dev.period order not correct when using plot(triang, lattice=TRUE) HOT 2
- Bootchainladder Gamma process variance incorrect parametrization
- tweedieReserve : var.power=NULL not working HOT 2
- tweedieReserve : Error in summary.tweedie when rereserving = FALSE
- package car is missing HOT 5
- dfCorTest and cyEffTest fail for mxn triangle HOT 1
- actuar HOT 5
- Probable bug in `glmReserve()` source code HOT 1
- I want to change presaved claims (from ChainLadder-package) HOT 2
- Is it possible to summarize P/I ratio values according to Mack?
- MackChainLadder: `tail = FALSE` works fine, `tail = TRUE` errors. HOT 2
- Cross Reference R/Python in README? HOT 4
- Theoretical Understanding of How Methods Should Handle 0's HOT 5
- Mean IBNR & Quantiles Not Comparable, MackChainLadder HOT 3
- Problems Loading on MacBook Pro OS 10.13 HOT 1
- class triangle object
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from chainladder.