Download or read book Optimal Consumption and Life Insurance with the Option to Control Leisure Time written by Mia Jensbøl Johansen and published by . This book was released on 2014 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Consumption and Life Insurance with Uncertain Lifetime and Stochastic Income Controlling Leisure Time written by Lise Hemmeshøj Runge and published by . This book was released on 2014 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Consumption and Life Insurance Choices with Leisure Control and Habit Formation written by and published by . This book was released on 2014 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimal Consumption and Life Insurance Under Shortfall Aversion and a Drawdown Constraint written by Xun Li and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies a life-cycle optimal portfolio-consumption problem when the consumption performance is measured by a shortfall aversion preference subjecting to an additional drawdown constraint on consumption rate. Meanwhile, the agent also dynamically chooses her life insurance premium to maximize the expected bequest at the death time. By using dynamic programming arguments and the dual transform, we solve the HJB variational inequality explicitly in a piecewise form across different regions and derive some thresholds of the wealth variable for the piecewise optimal feedback controls. Taking advantage of our analytical results, we are able to numerically illustrate some quantitative impacts on optimal consumption and life insurance by model parameters and discuss their financial implications.
Download or read book The Choice of an Optimal Consumer Planning Horizon written by Karl Herman Asmus and published by . This book was released on 1972 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Methods of Mathematical Finance written by Ioannis Karatzas and published by Springer Science & Business Media. This book was released on 1998-08-13 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is a sequel to Brownian Motion and Stochastic Calculus by the same authors. Within the context of Brownian-motion- driven asset prices, it develops contingent claim pricing and optimal consumption/investment in both complete and incomplete markets. The latter topic is extended to a study of equilibrium, providing conditions for the existence and uniqueness of market prices which support trading by several heterogeneous agents. Although much of the incomplete-market material is available in research papers, these topics are treated for the first time in a unified manner. The book contains an extensive set of references and notes describing the field, including topics not treated in the text. This monograph should be of interest to researchers wishing to see advanced mathematics applied to finance. The material on optimal consumption and investment, leading to equilibrium, is addressed to the theoretical finance community. The chapters on contingent claim valuation present techniques of practical importance, especially for pricing exotic options. Also available by Ioannis Karatzas and Steven E. Shreve, Brownian Motion and Stochastic Calculus, Second Edition, Springer-Verlag New York, Inc., 1991, 470 pp., ISBN 0-387- 97655-8.
Download or read book Policy and Choice written by William J. Congdon and published by Brookings Institution Press. This book was released on 2011-04-01 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional public finance provides a powerful framework for policy analysis, but it relies on a model of human behavior that the new science of behavioral economics increasingly calls into question. In Policy and Choice economists William Congdon, Jeffrey Kling, and Sendhil Mullainathan argue that public finance not only can incorporate many lessons of behavioral economics but also can serve as a solid foundation from which to apply insights from psychology to questions of economic policy. The authors revisit the core questions of public finance, armed with a richer perspective on human behavior. They do not merely apply findings from psychology to specific economic problems; instead, they explore how psychological factors actually reshape core concepts in public finance such as moral hazard, deadweight loss, and incentives. Part one sets the stage for integrating behavioral economics into public finance by interpreting the evidence from psychology and developing a framework for applying it to questions in public finance. In part two, the authors apply that framework to specific topics in public finance, including social insurance, externalities and public goods, income support and redistribution, and taxation. In doing so, the authors build a unified analytical approach that encompasses both traditional policy levers, such as taxes and subsidies, and more psychologically informed instruments. The net result of this innovative approach is a fully behavioral public finance, an integration of psychology and the economics of the public sector that is explicit, systematic, rigorous, and realistic.
Download or read book Sustainable Life Insurance written by Aymeric Kalife and published by CRC Press. This book was released on 2023-08-18 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable Life Insurance: Managing Risk Appetite for Insurance Savings and Retirement Products gives an overview of all relevant aspects of traditional and non-traditional savings and retirement products from both insurers’ and policyholders’ respective risk appetites. Examples of such products include general accounts, whole life, annuities (variable, fixed and fixed indexed, structured), index-linked products, CPPI-based products, etc. The book contains technical details associated with both practice and theory, specifically related to modelling, product design, investments and risk management challenges and solutions, tailored to both insurers’ and policyholders’ perspectives. Features The book offers not only theoretical background but also concrete, cutting-edge "quick wins" across strategic and operational business axes. It will be an asset for professionals in the insurance industry, and a great teaching/learning resource for courses in risk management, insurance modelling, and more. The book highlights the operational challenges encountered across modelling, product designs and hedging.
Download or read book Post Keynesian Economics written by Kenneth K. Kurihara and published by Routledge. This book was released on 2013-10-08 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the extension of Keynes' General Theory by a group of eminent economists. Each essay takes Keynes' work as a frame of reference for criticism, explorations and insights, whilst adding to the superstructure on the foundation of the General Theory. The essays also provide the necessary sense of perspective with a view to examining the Keynesian contribution to economic thought and also the limitations of Keynesian economics. The international contributors include: Dudley Dillard, Martin Bronfenbrenner, Mabel F. Timlin, William S. Vickrey, Don Patinkin, Howard R. Bowen, Gerald M. Meier, R.C.O. Matthews, Shinichi Ichimura, Anatol Murad, Lawrence R. Klein, Shigeto Tsuru, Paul P. Streeten, Lorie Tarshis and Franco Modigliani.
Download or read book The Life Insurance Industry written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly and published by . This book was released on 1973 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Life Insurance Industry written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 1973 with total page 2176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Calculus of Retirement Income written by Moshe A. Milevsky and published by Cambridge University Press. This book was released on 2006-03-13 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2006 book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners.
Download or read book Bank On Yourself written by Pamela Yellen and published by Vanguard. This book was released on 2010-03-23 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Wall Street Journal, USA Today, and BusinessWeek bestseller Bank On Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future reveals the secrets to taking back control of your financial future that Wall Street, banks, and credit card companies don’t want you to know. Can you imagine what it would be like to look forward to opening your account statements because they always have good news and never any ugly surprises? More than 100,000 Americans of all ages, incomes, and backgrounds are already using Bank On Yourself to grow a nest-egg they can predict and count on, even when stocks, real estate, and other investments tumble. You’ll meet some of them and hear their stories of how Bank On Yourself has helped them reach a wide variety of short- and longterm personal and financial goals and dreams in this book.
Download or read book Risk and Insurance written by Søren Asmussen and published by Springer Nature. This book was released on 2020-04-17 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a broad overview of the present state of insurance mathematics and some related topics in risk management, financial mathematics and probability. Both non-life and life aspects are covered. The emphasis is on probability and modeling rather than statistics and practical implementation. Aimed at the graduate level, pointing in part to current research topics, it can potentially replace other textbooks on basic non-life insurance mathematics and advanced risk management methods in non-life insurance. Based on chapters selected according to the particular topics in mind, the book may serve as a source for introductory courses to insurance mathematics for non-specialists, advanced courses for actuarial students, or courses on probabilistic aspects of risk. It will also be useful for practitioners and students/researchers in related areas such as finance and statistics who wish to get an overview of the general area of mathematical modeling and analysis in insurance.
Download or read book In praise of idleness written by Bertrand Russell and published by . This book was released on 1972 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Verzamelde opstellen van de Engelse wijsgeer (1872-1970)
Download or read book Care Without Coverage written by Institute of Medicine and published by National Academies Press. This book was released on 2002-06-20 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many Americans believe that people who lack health insurance somehow get the care they really need. Care Without Coverage examines the real consequences for adults who lack health insurance. The study presents findings in the areas of prevention and screening, cancer, chronic illness, hospital-based care, and general health status. The committee looked at the consequences of being uninsured for people suffering from cancer, diabetes, HIV infection and AIDS, heart and kidney disease, mental illness, traumatic injuries, and heart attacks. It focused on the roughly 30 million-one in seven-working-age Americans without health insurance. This group does not include the population over 65 that is covered by Medicare or the nearly 10 million children who are uninsured in this country. The main findings of the report are that working-age Americans without health insurance are more likely to receive too little medical care and receive it too late; be sicker and die sooner; and receive poorer care when they are in the hospital, even for acute situations like a motor vehicle crash.
Download or read book Economics of Insurance written by K.H. Borch and published by Elsevier. This book was released on 2014-07-14 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of insurance is presented in this book, discussed from the viewpoint of the theory of economics of uncertainty. The principle of premium calculation which the book uses is based on economic equilibrium theory and differs from many of the premium systems discussed by actuaries.Reinsurance is developed in the framework of general economic equilibrium theory under uncertainty. Here ordering of risks, preferences and utility theory play an important role. The book discusses the markets for insurance and divides them into three classes: (i) life insurance (ii) business insurance and (iii) household insurance, and these classes are each treated extensively in three separate chapters. Finally uninsurable risks are presented under "asymmetric information". Here moral hazard and adverse selection are treated and illustrations are given, some based on game theory.
