JUNE 01, 2022 (NewsRx) — By a News Reporter – Staff News Editor at Mathematics Daily News — Researchers detail new data in mathematics. According to reports from Baku, Azerbaijan, by the editors of NewsRx, the research said, “This article presents a method for assessing financial risks and managing them to optimize the decision-making process. It is shown that the type of economic entity at risk and its activities in the financial market affect the specifics of financial risk management, which can be classified into three main groups: hedging, diversification and insurance.
News correspondents got a quote from the research of Azerbaijan State University of Economics (UNEC)“The main instruments used for this purpose are also identified. Particular attention is paid to the dynamic properties of financial flows resulting from the simulation of artificial financial instruments, as well as their influence on the results of financial risk management when taking into account errors in the estimation of the parameters of the mathematical models. The aim of our study is to create a mathematical model that can be used to evaluate the risk reinsurance process. We will create a mathematical model of the risk reinsurance process by following these steps: 1. Identify all relevant variables in our analysis. 2. Determine how these variables interact with each other and draw a conclusion on how they influence each other’s values. 3. »
According to the reporters, the research concluded, “Find equations that represent these relationships between variables and solve their values with these equations. 4. Test these models against real data from known cases to make sure they work as expected, then use them for future studies or applications that require this kind of modeling technique.
For more information on this research, see: Mathematical modeling of the risk reinsurance process. WSEAS TRANSACTIONS ON MATHEMATICS, 2022.21. The publisher of WSEAS TRANSACTIONS ON MATHEMATICS is world academy of science and engineering and society (WSEAS).
A free version of this review article is available at https://doi.org/10.37394/23206.2022.21.52.
Our news editors report that more information can be obtained by contacting Sarvinaz Khanlarzadeh, “Economics” Department (in Russian) of UNEC, head of the Meybullayev Islamic Economic Center (UNEC), Azerbaijan State University of Economics (UNEC), Baku6 Istiqlaliyyat Street, AZ1001 AZERBAIJAN.
(Our reports provide factual information on research and discoveries from around the world.)