In Section 16.4, we have justified the use of the empirical distribution to represent attritional losses on
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In Section 16.4, we have justified the use of the empirical distribution to represent attritional losses on the basis of the Glivenko–Cantelli theorem and the Dvoretzky–
Kiefer–Wolfowitz inequality. Why do we not use the empirical distribution to represent large losses as well?
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