Percent damage distribution

R version: 2.7.0
Running on: WinXP

I am trying to model damage from fire losses (given that the loss occurred).
Since I have the individual insured amounts, rather than sampling dollar
damage from a continuous distribution ranging from 0 to infinity, I want to
sample from a percent damage distribution from 0-100%. One obvious solution
is to use runif(n, min=0, max=1), but this does not seem to be a good idea,
since I would not expect damage to be uniform.

diegol <diegol81 <at> gmail.com> writes:

R version: 2.7.0
Running on: WinXP

I am trying to model damage from fire losses (given that the loss
occurred).
Since I have the individual insured amounts, rather than sampling dollar
damage from a continuous distribution ranging from 0 to infinity, I want
to
sample from a percent damage distribution from 0-100%. One obvious
solution
is to use runif(n, min=0, max=1), but this does not seem to be a good
idea,
since I would not expect damage to be uniform.

 Beta distribution (rbeta(...)) or
logistic-binomial distribution
plogis(rnorm(...)) .

  See e.g. 

Smithson, Michael, and Jay Verkuilen. 2006. A better lemon squeezer?
Maximum-likelihood regression with beta-distributed dependent variables.
Psychological Methods 11, no. 1 (March): 54-71. doi:2006-03820-004.

R version: 2.7.0
Running on: WinXP

I am trying to model damage from fire losses (given that the loss occurred).
Since I have the individual insured amounts, rather than sampling dollar
damage from a continuous distribution ranging from 0 to infinity, I want to
sample from a percent damage distribution from 0-100%. One obvious solution
is to use runif(n, min=0, max=1), but this does not seem to be a good idea,
since I would not expect damage to be uniform.

I have not seen such a distribution in actuarial applications, and rather
than inventing one from scratch I thought I'd ask you if you know one, maybe
from other disciplines, readily available in R.

Thank you in advance.

-----
~~~~~~~~~~~~~~~~~~~~~~~~~~
Diego Mazzeo
Actuarial Science Student
Facultad de Ciencias Econ?micas
Universidad de Buenos Aires
Buenos Aires, Argentina
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