Business Commons^™

Exploration Of The Infomall Concept "Building On The Electronic Infomall", Geoffrey C. Fox, Wojtek Furmanski, Ken Hawick, Donald

Northeast Parallel Architecture Center

This document describes: the InfoMall concept; how it is employed by the Northeast Parallel Architectures center (NPAC) as a technology transfer program, how it could be used by Rome Laboratory and by the United States Air Force Materiel Command (US AFMC). A description of the “Electronic InfoMall” system built on the World Wide Web as a pilot project for Rome Laboratory is also given as well as some experiences building WWW systems for academic, commerce and industry. It should be emphasized that this document is primarily a description of the potential uses of the InfoMall concept and the human interactive …

An Economic Analysis Of Inspection Costs For Failsafing Attributes, John R. Grout, Brian T. Downs

Historical Working Papers

Modeling is used to explore the costs of inspection relative to other costs in the ZQC domain. Results show that the failsafing or the necessary inspection needed for 100% inspection must be relatively low with respect to repair costs or traditional inspection.

Controlling The Complexity Of Investment Decisions Using Qualitative Reasoning Techniques, Michel Benaroch, Vasant Dhar

Management - All Scholarship

Assembling financial instruments such as equities, bonds, options, and other derivatives into a portfolio requires a thorough understanding of how the portfolio will behave in response to changes of specific economic variables and parameters of the instruments. With more information about a more diverse set of instruments becoming available to traders, it is becoming important to limit the complexity of the analysis involved. We show how this complexity can be limited by using qualitative analysis, where the objective is to construct a few good vehicles which can then be analyzed quantitatively. We illustrate how two qualitative reasoning techniques -- qualitative …

Michigan's Deadlocked Commission On Death And Dying: A Lesson In Politics And Legalism, Joseph Ellin

Center for the Study of Ethics in Society Papers

Based on a presentation made to the WMU Center for the Study of Ethics in Society - September 21, 1994.

Journal Of Actuarial Practice, Volume 3, No.2, 1995, Colin Ramsay , Editor

Journal of Actuarial Practice (1993-2006)

ARTICLES

Measuring and Managing Catastrophe Risk • Ronald T. Kozlowski and Stuart B. Mathewson

Discussion • Rade T. Musulin & Authors' Reply

Sensitivity Testing of Property/Casualty Cash Flows • Ralph S. Blanchard, III and Eduardo P. Marchen

A Pension Plan Incorporating Both Defined Benefit and Defined Contribution Principles • M. Zaki Khorasanee

Expected Loss Development in Workers' Compensation Pricing: A Shift in Credibility • Christopher J. Poteet

Editor - Colin Ramsay, University of Nebraska. Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, Actuarial Frameworks ○ Samuel Cox, Georgia State University ○ David …

Sensitivity Testing Of Prdperty/Casualty Cash Flows, Ralph S. Blanchard Iii, Eduardo P. Marchena

Journal of Actuarial Practice (1993-2006)

The paper outlines an approach that has evolved at Aetna through ten years of property/casualty insurance cash flow testing. Methodologies and approaches to setting parameters reflecting both default and call/prepayment risk are discussed for major invested asset categories. Modeling runoff cash flows for a base scenario (and, for some of these assets, shocked scenarios) also is examined for major non-invested asset categories. Loss reserve cash flow modeling is not addressed, except for a brief description of one approach to shocking projected flows. Finally, various alternatives are given for presenting cash flow testing results to management and non-actuarial audiences.

Discussion Of Leonard T. Guarini And Edward P. Lotkowski's "Model Year Rating For Automobile Liability And Injury Coverages", Cheng-Sheng Peter Wu

Journal of Actuarial Practice (1993-2006)

No abstract provided.

Surveillance Of Life Insurer Solvency: A Comparison Of Stock And The Multiple Scenario Cash Flow Financial Stress Tests, Ronald W. Spahr, Paul L. Gronewoller

Journal of Actuarial Practice (1993-2006)

The solvency of life insurance companies may be threatened by interest rate risk when the maturities of assets and liabilities are mismatched. The National Association of Insurance Commissioners' (NAIC) multiple scenario cashflow test (MSCFT) and the Office of Thrift Supervision (OTS) net portfolio value model (stock) approaches to financial stress tests are illustrated and analyzed with respect to their capacity to estimate the impact of potential changes in interest rates on life insurance company capital and surplus. Each approach is illustrated with the assets and liabilities of three hypothetical life insurance company capital levels (high, average, and below average) and …

Expected Loss Development In Workers' Compensation Pricing: A Shift In Credibility, Christopher J. Poteet

Journal of Actuarial Practice (1993-2006)

This paper shows that expected loss development is equivalent to adjusting the full credibility standard and applying credibility by policy period. Expected loss development should not be used in workers' compensation ratemaking. The credibility is correct before being adjusted.

Decision Making Under Conflicting Criteria In Pension Valuations: An Expected Utility Model, Lisa Lipowski Posey, Arnold F. Shapiro

Journal of Actuarial Practice (1993-2006)

Many of the criteria used by actuaries when selecting assumptions for pension plan valuations often conflict. As a result, actuaries must weigh the various costs and benefits associated with a particular set of assumptions. We use expected utility theory to model the process of chOOSing actuarial assumptions when faced with potentially conflicting criteria. The three criteria considered are prudence, best estimate, and conservatism. The actual contribution chosen by the actuary is found to depend on the contribution level that triggers a red flag with respect to tax deductibility. If this level is relatively low, the actuary chooses a high contribution …

Cross-Tested Defined Contribution Plans, Ho Kuen Ng

Journal of Actuarial Practice (1993-2006)

Cross-tested plans are defined contribution plans that test allocations for nondiscrimination. The test is based on a plan's actuarial equivalent annuity benefits. Cross-tested plans have become popular among small plan sponsors after the release of the nondiscrimination regulations. This paper investigates the pros and cons of cross-testing.

Discussion Of Ronald T. Kozlowski And Stuart B. Mathewson's "Measuring And Managing Catastrophe Risk", Rade T. Musulin

Journal of Actuarial Practice (1993-2006)

Mr. Kozlowski and Mr. Mathewson's paper provides a good introduction to the development and use of models in the property insurance industry. It will be a valuable addition to the regrettably sparse actuarialliterature in this area. This discussion will offer several comments on the ideas raised in the paper, focusing on how models can be used to enhance an actuary's work. The use of models has sparked major controversies between regulators and insurers in several jurisdictions, notably Florida. Controversy is not limited to the regulatory arena, however. Because models are being used by reinsurers to rate contracts and by A.M. …

Measuring And Managing Catastrophe Risk, Ronald T. Kozlowski, Stuart B. Mathewson

Journal of Actuarial Practice (1993-2006)

We introduce some of the basic principles behind property catastrophe modeling via simulations. The output of such simulations can be explored via modernized pin maps and loss likelihood curves. We also briefly discuss some of the uses of catastrophe modeling in addition to traditional probable maximum loss estimation. Comments are made on the use of modeling by reinsurers. We hope that this article stimulates discussions on new approaches to catastrophe modeling.

A Pension Plan Incorporating Both Defined Benefit And Defined Contribution Principles, Zaki M. Khorasanee

Journal of Actuarial Practice (1993-2006)

We propose a defined contribution pension plan with an explicitly defined benefit formula. Such a plan is expected to pay more stable and predictable benefits over time than one based on the money purchase principle. The properties of the plan are investigated through simulation. Methods for distributing surpluses and eliminating deficiencies that involve adjusting the rate of benefit accrual (rather than varying the rate of contribution) are discussed. The behavior of the plan under a scenario of persistently unfavorable investment experience is Simulated, and methods for satisfactorily dealing with such a scenario are considered. The plan actuary is expected to …

Simulation Of Investment Returns For A Money Purchase Fund, Zaki M. Khorasanee

Journal of Actuarial Practice (1993-2006)

This paper examines the problem of investment risk in money purchase pension plans. The disadvantages of modeling equity returns as independent, identically distributed random variables are conSidered, and a modified stochastic model of equity returns is proposed. This modified stochastic model is used to estimate the variability in a plan member's retirement fund and to compare various alternatives to investing 100 percent of the assets in ordinary shares. Varying conclusions are drawn about the likely success of these alternative investment strategies in reducing investment risk.

Hiv, Aids, Markov Processes, And Health And Disability Insurance, Steven Haberman

Journal of Actuarial Practice (1993-2006)

This paper presents a Markov model of the transmission and development of HIV and AIDS. The Markov model is used to derive functions needed in the calculation of disability insurance premiums, reserves, and cash flows. An application to health insurance and disability insurance is provided.

Discussion Of Brian Jones' "Actuarial Conservatism: Not In Public Sector Defined Benefit Pension Plans", Richard Daskais

Journal of Actuarial Practice (1993-2006)

No abstract provided.

Discussion Of Robert L. Brown's "Recent Canadian Human Rights Decisions Having An Impact On Gender-Based Risk Classification Systems", Patrick Butler

Journal of Actuarial Practice (1993-2006)

This commentary examines the political and economic influence of demographic groups on rationales for granting exemption from laws prohibiting classification by age or sex, as evidenced in the cases discussed by Robert L. Brown. Age is less subject than sex to manipulation for group advantage. In Professor Brown's discussion of auto insurance cases, only the influence of group dominance can explain:

• Selective focus on young drivers;

• Indifference to ongoing overcharging of adult women signaled by undisputed 2:1 ratios of cost-related averages; and

• Avoidance of effective ways to evaluate miles of exposure to risk.

Contrary to Professor Brown's …

Obtaining A Life Table For Spinal Cord Injury Patients Using Information Theory, Patrick L. Brockett, Yun Song

Journal of Actuarial Practice (1993-2006)

We present a mortality table adjustment method based on a constrained information theoretic methodology. The objective is to adjust a standard mortality table to reflect a particular known characteristic of the population while remaining as close as possible to a given standard table. To illustrate these techniques, the medical results concerning survival of spinal cord injury patients are incorporated into a standard table to obtain a mortality table pertinent for paraplegic and quadriplegic individuals. The desired adjusted mortality table can be used by actuaries for special purposes such as wrongful injury damage award compensation calculations and determining life insurance premium …

Resolving A Tension, Kenneth Yale Rosenzweig

Accounting Faculty Publications

I went to Augsburg, Germany, this summer for an accounting research project and for a broader purpose — to get to know contemporary Germans and to learn how they think, especially about the Jewish people. I have always felt a tension between my feelings about Germany and those about being Jewish. In high school and college in the late 1950s and early 1960s, as I studied the German language, I developed a great respect for German culture. Yet, brought up with an extensive Jewish education, I understand how many American Jews visiting Europe resist even traveling to Germany, feeling such …

Decision Framing And Efficiency/Effectiveness Trade-Offs In Auditors' Planning Materiality Judgments, Sridhar Ramamoorti

Accounting Faculty Publications

The exercise of judgment is not only essential to the practice of disciplines such as law, medicine and accounting, but is also what distinguishes these domains as professions (Boritz, Gaber & Lemon, 1987, cited in Gibbins & Mason, 1988). Recent advances in cognitive psychology research have given an impetus to research focusing on the nature of professional judgment, expert-novice cognition, heuristics and biases in decision making as well as decision strategies, the acquisition of knowledge and the effects of experience, and the development of expert/decision support systems (Ashton, 1982a; Smith & Kida, 1991; Chi, Glaser & Farr, 1988). The central …

Santa Clara Magazine, Volume 37 Number 1, Winter 1995, Santa Clara University

Santa Clara Magazine

6 - THE JESUIT CASE DECLASSIFIED Secret documents reveal what the United States knew.... and what it failed to do about the Jesuit murders in El Salvador. By Peter Kornbluh

10 - EASTERN ENLIGHTENMENT SCU's new religion chair draws from her latest book to discuss how Christians can derive a greater understanding of their own faith through an appreciation of Buddhism. By Denise Lardner Carmody

13 - WASTE NOT As part of SCU's Institute on Ecology, students, faculty, and staff assess how well the University is using its own environmental resources.

17 - THE DOMESTIC CHURCH MEETS THE PARISH CHURCH …

Critical Success Factors For Organizational Case Success, Chad Strauss

Presidential Scholars Theses (1990 – 2006)

Practitioners and researchers have suggested that Computer Aided Software Engineering (CASE) technology can significantly improve the productivity of systems analysts and the quality of systems development. Before CASE can succeed, however, specific components must exist. This paper explores CASE and the components necessary for its widespread acceptance and use within information systems departments. Specifically, this paper will examine the systems development life cycle (SDLC), the possible benefits of CASE, the current state of CASE, critical success factors for CASE, and finally CASE use.

Overview Of Medicare Dermatology Issue: Removal Of Benign Or Premalignant Skin Lesions, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Overview of Medicare Dermatology Issue: Removal of benign or Premalignant Skin Lesions

Blue Ribbon Benefits – 1995 Employee Benefit Information, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 employee health benefits handbook.

Congestive Heart Failure Program Packet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Congestive Heart Failure Program packet, containing: congestive heart failure program template letter, congestive heart failure program overview, congestive heart failure participation agreement, living with heart failure questionnaire, business reply mail envelope, The Puzzle of Heart Failure manual, congestive heart failure program magnet, congestive heart failure daily log, Things To Do Today sheet, congestive heart failure program community resource guide.

Blue Cross And Blue Shield Of Florida Annual Report: 1995, Blue Cross Of Florida, Inc.

Florida Blue Archives Printed Materials

Annual company report for 1995 detailing Blue Cross of Florida's business operations, financial assets and expenditures, and executive leadership.

Economic- Air Pollution Models: An Econometrics Regression Approach, Muhammed R. Yunus

Masters Culminating Experiences (1993-2011)

Economic- air pollution models have been developed using an econometrics regression approach for the ambient air concentration levels of total particulate matter (TPM) ,, I960- 1990, sulfur oxide (SOx), 1962-1992, and carbon monoxide (CO), 1970-1992. There are some difficulties in determining the explanatory variables because many variables which affect ambient air levels may also be related to others explanatory variables. Furthermore, the lack of available ambient air concentration level data is another constraint in developing the models. Yet, this study suggests that while gross domestic product per capita has increased over time, ambient air levels of TPM and SOx pollutants …

Bcbsf Public Policy Issue Papers, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Public policy issue papers for BCBSF from 1992-1995.

Group Life Insurance – Summary Program Description, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 employee group life insurance handbook.