Digital Commons Network^™

Rapid Calculation Of The Price Of Guaranteed Minimum Death Benefit Ratchet Options Embedded In Annuities, Eric R. Ulm

Journal of Actuarial Practice (1993–2006)

This paper presents a new method of obtaining quick and accurate values and deltas for discrete look back options using Taylor series expansions. This method is applied to the case of ratchet guaranteed minimum death benefits attached to annuity contracts, and the method is extended to include annuities where a fixed fund is attached to the variable account. Finally, both the speed and the accuracy of the method are compared to Monte Carlo simulation and the exact analytic solution. The Taylor expansion method is shown to be faster and, in most cases, more accurate than the alternative methods.

Approximating The Bias And Variance Of Chain Ladder Estimates Under A Compound Poisson Model, Janagan Yogaranpan, Sue Clarke, Shauna Ferris, John Pollard

Journal of Actuarial Practice (1993–2006)

We consider the problem of estimating the outstanding claims produced by a homogeneous general insurance portfolio. The specific model considered in this paper is one where the number of claims in any loss period follows a Poisson distribution, settlement delays follow the same multinomial distribution, and settlements are single lump sums that are independent identically distributed random variables. Simulations using this model reveal that the development ratios and the outstanding claims estimates produced using the chain ladder method are positively biased. We obtain approximate formulas for the biases using Taylor series expansions of the random variables about their means. The …

Product Innovation In Financial Services: A Survey, Christopher O'Brien

Journal of Actuarial Practice (1993–2006)

This paper considers product innovation in insurance and other financial services, an area where actuaries have an important role. It considers the proposition that there is no unique formula for success and that what works well in one situation may not work well in another. It first examines the sources of ideas for new products and, in particular, the role played by consumers, which is generally regarded as weak. It then looks at how ideas are implemented, with particular importance attributed to cross-functional teams and the formality of the product development process. Then it considers how success is measured (with …

Great Plains Ecosystems: Past, Present, And Future, Fred B. Samson, Fritz L. Knopf, Wayne Ostlie

United States Geological Survey: Staff Publications

Little questions exists that the main bodies of North American prairie (i.e., the tall-grass, mixed, and shortgrass) are among the most endangered resources on the continent. The purpose of this paper is to provide a past and present biological base- line by which to understand North American prairies and to provide a platform for future conservation. Events both immediate to the end of the Pleistocene and historic suggest that the present grassland conditions are different from those within which most of the grassland organisms evolved. Our analysis suggests that few grassland landscapes remain adequate in area and distribution to sustain …

Effects Of Management Practices On Grassland Birds: American Bittern, Jill A. Dechant, Marriah L. Sondreal, Douglas H. Johnson, Lawrence D. Igl, Christopher M. Goldade, Amy L. Zimmerman, Betty R. Euliss

United States Geological Survey, Northern Prairie Wildlife Research Center: Publications

Information on the habitat requirements and effects of habitat management on grassland birds were summarized from information in more than 4,000 published and unpublished papers. A range map is provided to indicate the relative densities of the species in North America, based on Breeding Bird Survey (BBS) data. Although birds frequently are observed outside the breeding range indicated, the maps are intended to show areas where managers might concentrate their attention. It may be ineffectual to manage habitat at a site for a species that rarely occurs in an area. The species account begins with a brief capsule statement, which …

Executive Power Essentialism And Foreign Affairs, Martin S. Flaherty

Faculty Scholarship

No abstract provided.

Comparison Of Three Methods Of Size Grading Channel Catfish Stockers, Bartholomew W. Green, David L. Heikes, Andrew E. Goodwin

United States Department of Agriculture-Agricultural Research Service / University of Nebraska-Lincoln: Faculty Publications

The stocking of size-graded catfish into production ponds should increase production efficiency, but grading large numbers of fish with existing technology is laborious. We evaluated the effectiveness of a mechanical grader recently developed at the University of Arkansas at Pine Bluff (UAPB) relative to that of box and sock graders and assessed injuries sustained by stocker channel catfish Ictalurus punctatus during grading. Three 0.25-acre ponds were stocked at 11,777 lb/acre. Initial total length (TL) ranged from 6.3 to 15.7 in, and initial weight of individuals ranged from 0.04 to 1.10 lb. The fish population in each pond was divided into …

Spin-Dependent Tunneling From Clean And Oxidized Co Surfaces, Kirill D. Belashchenko, Evgeny Y. Tsymbal, Mark Van Schilfgaarde, Derek A. Stewart, I. I. Oleynik, Sitaram S. Jaswal

Kirill Belashchenko Publications

Transmission through a sufficiently thick vacuum barrier is factorized in the product of two ‘‘surface transmission functions’’ and a vacuum decay factor. Based on this factorization, we study the spin polarization of the tunneling current from clean and oxidized (1 1 1) FCC Co surfaces through vacuum into Al. The conductance is calculated using the principal-layer Green’s function approach within the tight-binding LMTO scheme. We find that for typical vacuum barrier thicknesses the tunneling current from the clean surface is dominated by minority-spin electrons. A monolayer of oxygen on top of the surface completely changes the shape of k_{ll …}

Magneto-Thermal Behavior Of A Granular Fecl2–Fe Heterostructure, Sarbeswar Sahoo, Christian Binek, Wolfgang Kleemann

Christian Binek Publications

A granular system consisting of ferromagnetic single-domain Fe particles in an antiferromagnetic FeCl₂ matrix was prepared by coevaporation in an ultra-high vacuum environment. The structural and magnetic properties were investigated by X-ray diffractometry and superconducting quantum interference device magnetometry, respectively. The heterostructure combines the properties of superparamagnetic Fe granules and the antiferromagnetism of the FeCl₂ matrix. In addition, dipolar interaction-induced giant moments are observed below the Néel temperature of the FeCl₂ matrix. The thermomagnetic properties of the giant moments are studied.

Ianr Recognition Luncheon, John Owens

John Owens: Speeches and Appearances

What a pleasure it is to come together here to recognize and celebrate Outstanding work of members of our IANR community. It is even more of a treat to have three reasons to celebrate today as we recognize excellence with two IANR Exemplary Service Awards, two Dinsdale Family Faculty Awards, and the IANR Team Award.

Moving Ahead In Lean Times: Nebraska Ag Relations Council, John Owens

John Owens: Speeches and Appearances

One day a rancher's prize bull was missing from the section of his land the railroad passed through. He filed suit against the railroad, wanting only to be paid a fair-price of the bull. A big-city lawyer arrived in the rancher's small town to represent the railroad in the case and quickly cornered the rancher, pressuring him to settle out of court.

Ag At The Crossroads, John Owens

John Owens: Speeches and Appearances

Thank you for inviting me to be here with you today. It is always such a pleasure to be asked to talk about the ways the Institute of Agriculture and Natural Resources benefits Nebraskans, Nebraska, and our state's economy. I am proud of the real difference our work makes in Nebraska's future and in Nebraskans' lives.

Cracks In The Foundation: The New Internet Legislation's Hidden Threat To Privacy And Commerce, Joshua Fairfield

Articles by Maurer Faculty

Scholarship to date has focused on the legal significance of the novelty of the Internet. This scholarship does not describe or predict actual Internet legislation. Instead of asking whether the Internet is so new as to merit new law, legislators and academics should re-evaluate the role of government in orchestrating collective action and change the relative weight of enforcement, deterrence, and incentives in Internet regulations.

A perfect example of the need for this new approach is the recent CANSPAM Act of 2003, which was intended to protect personal privacy and legitimate businesses. However, the law threatens both of these interests, …

The Southwestern Association Of Parasitologists: The First 35 Years: 1967–2002, Donald W. Duszynski

Harold W. Manter Laboratory of Parasitology: Faculty Publications

First two paragraphs:

It is likely that the idea to organize southwestern parasitologists into a regional group originated over cocktails one night in the late 1950s during a regional or national meeting. What is clear is that two men—Drs. Robert E. Kuntz and Donald V. Moore— were instrumental in turning the idea into what has become, in reality, the Southwestern Association of Parasitologists (SWAP).

Dr. J. Teague Self (personal communication, 1981) stated, “The beginning of SWAP was an idea of Robert Kuntz who felt that something could be gained if several of us here in the southwest could get together …

Cardicola Forsteri (Digenea: Sanguinicolidae) From The Heart Of A Northern Bluefin Tuna, Thunnus Thynnus (Scombridae), In The Northwest Atlantic Ocean, Stephen A. Bullard, Robert J. Goldstein, Robert H. Goodwin Iii, Robin M. Overstreet

Harold W. Manter Laboratory of Parasitology: Faculty Publications

We report a specimen of Cardicola forsteri Cribb, Daintith, and Munday, 2000 (Digenea: Sanguinicolidae) from the lumen of the heart of a northern bluefin tuna, Thunnus thynnus (Linnaeus, 1758) (Scombridae), that was 218 cm in total length (TL) and caught in the northwest Atlantic Ocean 12 km south of Cape Lookout, North Carolina. The hearts of 12 similarly sized northern bluefin tuna (127–262 cm TL) from George’s Bank, northwest Atlantic Ocean, were not infected. This is the first report of C. forsteri from a wild host and of a sanguinicolid from any scombrid in the northwest Atlantic Ocean. Bluefin tuna …

Positive Psychological Capital: Beyond Human And Social Capital, Fred Luthans, Kyle W. Luthans, Brett C. Luthans

Department of Management: Faculty Publications

With the rising recognition of human resources as a competitive advantage in today’s global economy, human capital and, more recently, social capital are being touted in both theory, research, and practice. To date, however, positive psychological capital has been virtually ignored by both business academics and practitioners. “Who I am” is every bit as important as “what I know” and “who I know.” By eschewing a preoccupation with personal shortcomings and dysfunctions and focusing instead on personal strengths and good qualities, today’s leaders and their associates can develop confidence, hope, optimism, and resilience, thereby improving both individual and organizational performance.

Human, Social, And Now Positive Psychological Capital Management: Investing In People For Competitive Advantage, Fred Luthans, Carolyn M. Youssef

Department of Management: Faculty Publications

There is growing evidence that human resources are crucial to organizational success, and may offer the best return on investment for sustainable competitive advantage. Jeffery Pfeffer’s extensive work, summarized in his book The Human Equation, discusses substantially supported but unfortunate findings that only about half of today’s organizations and their managers believe that human resources really do matter. Moreover, only half of those organizations act upon their beliefs beyond paying lip service to this vital resource. Few organizations have adopted high performance work practices, such as 360-degree feedback, pay-for-performance, self-managed teams, employee empowerment, and other human-oriented initiatives. Furthermore, Pfeffer shows …

Recognition And Development Of Hope For South African Organizational Leaders, Fred Luthans, René Van Wyk, Fred Walumbwa

Department of Management: Faculty Publications

The significant challenges faced by South Africa at present are well known. How to deal with the problems from a political and economic perspective abound, but taking a psychological approach has been neglected. This paper proposes a positive approach to South African organizational leadership based on the psychological capacity of hope. After giving a brief background on the context surrounding South African organizations, the theory, research, and application of hope relevant to organizational leadership in the “Rainbow Nation” are presented and analyzed. Such an overlooked positive approach represented by hopeful organizational leaders seems needed at this juncture of South Africa’s …

Unlocking The Mask: A Look At The Process By Which Authentic Leaders Impact Follower Attitudes And Behaviors, Bruce Avolio, William L. Gardner, Fred Walumbwa, Fred Luthans, Douglas R. May

Department of Management: Faculty Publications

The conceptual and empirical links between authentic leadership and follower attitudes, behaviors, and performance outcomes have not been fully developed. Although we have a number of articles developing the theory of authentic leadership and testing propositions that will appear in a forthcoming special issue of The Leadership Quarterly (Vol. 16, Issue 3, 2005), the focus of this article is to provide some of the initial foundation work for the broader theoretical framework of how authentic leaders influence follower attitudes, behaviors, and performance. Here, we draw from positive organizational behavior, trust, hope, emotion, identification, and identity theories to describe the processes …

Transitioning To The Learning Organization, Joan Giesecke, Beth Mcneil

University of Nebraska-Lincoln Libraries: Faculty Publications

Peter Senge popularized the concept of the learning organization, and several libraries have tried, with varying degrees of success, to adopt the learning organization model. This article explores why organizations consider attempting to become learning organizations, includes an overview of the theory of learning organizations, presents steps to becoming a learning organization, and describes examples of learning organization efforts at the University of Nebraska-Lincoln Libraries and other libraries.

Global Climate And The Evolution Of Large Mammalian Carnivores During The Later Cenozoic In North America, Robert Hunt Jr.

University of Nebraska State Museum: Mammalogy Papers

Taxon ranges of larger mammalian carnivores can be grouped into seven temporal intervals during the later Cenozoic. These intervals are of varied duration and seem to correspond to periodic faunal reorganizations that accompanied the progressive climatic deterioration occurring from the late Eocene to the Pleistocene. Recent oxygen isotope records from deep-sea cores serve as proxy for the pattern of global climate during the Cenozoic and compare reasonably well with the large carnivore intervals. Intervals A, B, and the early part of C characterize a time of cooler global climate (δ¹⁸O: +1.3 to +3.0‰) following the early Eocene climatic …

India's "Patriot Act": Pota And The Impact On Civil Liberties In The World's Largest Democracy, Jayanth K. Krishnan

Articles by Maurer Faculty

No abstract provided.

Fighting The Axis Of Illness: Hiv/Aids, Human Rights, And U.S. Foreign Policy, David P. Fidler

Articles by Maurer Faculty

No abstract provided.

Reforming Patent Validity Litigation: The "Dubious Preponderance", Mark D. Janis

Articles by Maurer Faculty

No abstract provided.

International Law And Weapons Of Mass Destruction: End Of The Arms Control Approach?, David P. Fidler

Articles by Maurer Faculty

No abstract provided.

Book Review. After The Revolution, Gene R. Shreve

Articles by Maurer Faculty

No abstract provided.

The Entrepreneurship Effect: An Accidental Externality In The Federal Income Tax, Leandra Lederman

Articles by Maurer Faculty

Case law and commentators sometimes speak as if all income-producing activities are taxed similarly. However, that simply is not true for individuals. Although the expenses and losses of business activities generally are deductible from income of any source and net losses can be carried to other tax years, individuals' investment expenses and losses generally are deductible only from investment income. Although many of the provisions restricting investment-related deductions were enacted at different times, and each one has its own rationale, the combined effect of these provisions on individual investors is a systematic preference for business losses over investment losses.

Economists …

Book Review. Cases, Materials And Texts On Unjustified Enrichment, Ralph F. Gaebler

Articles by Maurer Faculty

No abstract provided.

Employment Protection For Domestic Violence Victims, Deborah A. Widiss, Wendy R. Weiser

Articles by Maurer Faculty

No abstract provided.

Managing Biological Integrity, Diversity, And Environmental Health In The National Wildlife Refuges: An Introduction To The Symposium, Robert L. Fischman, Vicky J. Meretsky

Articles by Maurer Faculty

No abstract provided.