scholarly journals Some aspects on reinsurance profits and loadings

1971 ◽  
Vol 5 (3) ◽  
pp. 314-327 ◽  
Author(s):  
G. Benktander
Keyword(s):  
Operations Research ◽  
Coming Out ◽  
Simple Formula ◽  
Affirmative Answer ◽  
Point Of View ◽  
Excess Loss ◽  
Long Run ◽  
Loading System ◽  
Loading Problem ◽  
In The Beginning

In a note on the security loading of excess loss rates I am deducing a simple formula intended to replace some tedious calculations. In the beginning of that note I made the point that some authors recommend a loading proportional to the dispersion of the total claims amount of a treaty δ1 while others tend to favour .I also stated that a loading proportional to δ1 or its estimate δ1* could be deduced from the statistical uncertainty in measuring the risk (section 4).The question has been raised if and to what extent a loading system based on the dispersion is unduly punishing the smaller portfolios. This will be examined below.The pricing concept will be analyzed from the point of view of a big dominating Reinsurer who wants to be fair in all directions. The conclusion of this study supports an affirmative answer to the question put above.In a second part the loading is studied from a different angle bringing competition into the picture. The pricing or loading becomes a problem of operations research under the simplified assumption that profit is the only purpose of our activity. Not unexpectedly, the loading coming out from this aspect differs from those of part one.Part two also deals with the question of how much of the loadings which we are aiming for, get lost in the competitive process. It is also shown that in most cases the harder the competition is, the higher loadings shall be used.Part one and part two thus deal with the loading problem from different aspects, and illustrate the complexity of the problem. It is my hope that this note could stimulate further researches in this interesting and important area, also in a moment when some reinsurers are more concerned with the question of surviving than in fixing the loadings which should on the average and in the long run turn up as profits.

CAPRICCIOʼS GENRE IN MANDOLIN MUSIC AT THE END OF THE 19th – THE EARLY OF THE 20th CENTURIES (for example of the concert pieces by С. Munier)

2019 ◽  
pp. 60-71
Author(s):  
N. V. Bashmakova ◽  
K. V. Kravchenko
Keyword(s):  
19Th Century ◽  
Analytical Methods ◽  
17Th Century ◽  
Point Of View ◽  
Historical Approach ◽  
The Creation ◽  
Characteristic Features ◽  
Concert Works ◽  
In The Beginning ◽  
The 19Th Century

The purpose of this article is process of analyzing in reference to concert capriccio by C. Munier for mandolin with piano («Bizzarria», op. 201, Spanish сapriccio, op. 276) from the point of view of their genre specificity. Methodology. The research is based on the historical approach, which determines the specifics of the genre of Capriccio in the music of the late 19th and early 20th centuries and in the work of C. Munier; the computational and analytical methods used to identify the peculiarities of the formulation and the performing interpretation of the original concert pianos for mandolins with piano that, according to the genre orientation (according to the composerʼs remarks), are defined as capriccio. Scientific novelty. The creation of Florentine composer,61mandolinist-vertuoso and pedagog C. Munier, which made about 300 compositions, is exponential for represented scientific vector. Concert works by C. Munier for mandolin and piano, created in the capriccio genre, were not yet considered in the art of the outdoors, as the creativity and composer’s style of the famous mandolinist. Conclusions. Thus, appealing to capriccio by С. Munier, which created only two works, embodied in them virtually all the evolutionary stages of the development of genre. In his opus of this genre there are a vocal, inherent in capriccio of the 17th century solo presentation, virtuosity, originality, which were embodied in the works of 17th – 18th centuries and the national color of the 19th century is clearly expressed. Thus, the Spanish capriccio is a kind of «musical encyclopedia» of national dance, which features are characteristic features of bolero, tarantella, habanera, and so forth. The originality of opus number 201 – «Bizzarria», is embodied in the parameters of shaping (expanded cadence of the soloist in the beginning) and emphasized virtuosity, which is realized in a wide register range, a variety of technical elements.

Justice as a Personal Virtue and Justice as an Institutional Virtue: Mencius’s Confucian Virtue Politics

2020 ◽  
Vol 2019 (4) ◽  
pp. 277-294
Author(s):  
Yong Huang
Keyword(s):  
Political Philosophy ◽  
Virtue Ethics ◽  
Social Institutions ◽  
Affirmative Answer ◽  
The State ◽  
Point Of View ◽  
Character Traits ◽  
Social Policies ◽  
Moral Principles ◽  
The Government

AbstractIt has been widely observed that virtue ethics, regarded as an ethics of the ancient, in contrast to deontology and consequentialism, seen as an ethics of the modern (Larmore 1996: 19–23), is experiencing an impressive revival and is becoming a strong rival to utilitarianism and deontology in the English-speaking world in the last a few decades. Despite this, it has been perceived as having an obvious weakness in comparison with its two major rivals. While both utilitarianism and deontology can at the same time serve as an ethical theory, providing guidance for individual persons and a political philosophy, offering ways to structure social institutions, virtue ethics, as it is concerned with character traits of individual persons, seems to be ill-equipped to be politically useful. In recent years, some attempts have been made to develop the so-called virtue politics, but most of them, including my own (see Huang 2014: Chapter 5), are limited to arguing for the perfectionist view that the state has the obligation to do things to help its members develop their virtues, and so the focus is still on the character traits of individual persons. However important those attempts are, such a notion of virtue politics is clearly too narrow, unless one thinks that the only job the state is supposed to do is to cultivate its people’s virtues. Yet obviously the government has many other jobs to do such as making laws and social policies, many if not most of which are not for the purpose of making people virtuous. The question is then in what sense such laws and social policies are moral in general and just in particular. Utilitarianism and deontology have their ready answers in the light of utility or moral principles respectively. Can virtue ethics provide its own answer? This paper attempts to argue for an affirmative answer to this question from the Confucian point of view, as represented by Mencius. It does so with a focus on the virtue of justice, as it is a central concept in both virtue ethics and political philosophy.

scholarly journals Dynamic Integrated Model for Assessing Fisheries: Discard Bans as an Implicit Value-Added Tax

2021 ◽  
Author(s):  
Jose Maria Da Rocha ◽  
Javier García-Cutrín ◽  
Maria-Jose Gutiérrez ◽  
Raul Prellezo ◽  
Eduardo Sanchez
Keyword(s):  
Value Added ◽  
Point Of View ◽  
Value Added Tax ◽  
Biological Variables ◽  
A Value ◽  
Long Run ◽  
The Social ◽  
Negative Effect ◽  
Short Run ◽  
The Impact

AbstractIntegrated economic models have become popular for assessing climate change. In this paper we show how these methods can be used to assess the impact of a discard ban in a fishery. We state that a discard ban can be understood as a confiscatory tax equivalent to a value-added tax. Under this framework, we show that a discard ban improves the sustainability of the fishery in the short run and increases economic welfare in the long run. In particular, we show that consumption, capital and wages show an initial decrease just after the implementation of the discard ban then recover after some periods to reach their steady-sate values, which are 16–20% higher than the initial values, depending on the valuation of the landed discards. The discard ban also improves biological variables, increasing landings by 14% and reducing discards by 29% on the initial figures. These patterns highlight the two channels through which discard bans affect a fishery: the tax channel, which shows that the confiscation of landed discards reduces the incentive to invest in the fishery; and the productivity channel, which increases the abundance of the stock. Thus, during the first few years after the implementation of a discard ban, the negative effect from the tax channel dominates the positive effect from the productivity channel, because the stock needs time to recover. Once stock abundance improves, the productivity channel dominates the tax channel and the economic variables rise above their initial levels. Our results also show that a landed discards valorisation policy is optimal from the social welfare point of view provided that incentives to increase discards are not created.

TRADITION AND INNOVATION IN MODERN KAZAKH POETRY (XX century and independence)

2021 ◽  
Vol 76 (2) ◽  
pp. 118-128
Author(s):  
Sh. Kuttybaev ◽  
◽  
Е. Abdimomynov ◽  
Keyword(s):  
20Th Century ◽  
Large Scale ◽  
Point Of View ◽  
Soviet Period ◽  
Evolutionary Development ◽  
Spiritual Values ◽  
Literary Traditions ◽  
New Perspective ◽  
National Poetry ◽  
In The Beginning

The article analyzes views on innovation in the literary science of the early twentieth century and the work of Alash representatives in an era that is a period filled with profound changes and large-scale innovations in Kazakh society. In addition, works related to freedom, enlightenment, politics, spiritual values, the position of the people as a whole and social changes are considered the idea of independence and continuity. On the way of evolutionary development of the Kazakh literature, artistic power, thematic and ideological character, substantial and stylistic features of poetry of poets in the beginning of the XX century and during the Great Patriotic War, in subsequent years and years of independence are discussed in detail. In addition, on the basis of literary traditions and novelty, the works of prominent poets of Kazakh poetry of the 20th century and Independence are considered and comprehensively characterized, i.e. internal motives, the content of life phenomena in national poetry are analyzed in close connection with the works of poets. The original vision of the traditional and differentiated in the literature of the Soviet period in the works of poets from a new perspective, from the point of view of today. In addition, the works of outstanding poets of Kazakh poetry in the period of the 20th century and independence are considered on the basis of classical tradition and novelty in literature.

scholarly journals Renaming schizophrenia: 5 × 5

2018 ◽  
Vol 28 (03) ◽  
pp. 254-257 ◽  
Author(s):  
Sinan Guloksuz ◽  
Jim van Os
Keyword(s):  
Mental Health ◽  
Autism Spectrum Disorder ◽  
Well Being ◽  
Autism Spectrum ◽  
Spectrum Disorder ◽  
Evidence Based ◽  
Long Run ◽  
The Social ◽  
Technical Features ◽  
In The Beginning

AbstractThere had been a long way to go before we felt comfortable about even discussing the issues revolving around the concept of ‘schizophrenia’, let alone reckoning on mere semantic revision. In this editorial, we aim to extend our discussion on the reasons behind the slow death of the concept of ‘schizophrenia’ and the benefits of changing the name and embracing a spectrum approach with an umbrella psychosis spectrum disorder (PSD) category (similar to autism spectrum disorder) that goes further than a mere semantic revision. We attempted to cover the topic of the renaming by providing five most pertinent points categorised under five domains: reasons, signals, challenges, promises and steps for the change. Admittedly, even a modest revision, such as classifying all psychotic disorder categories under an umbrella category of PSD, and abolishing the term schizophrenia requires careful deliberation and some effort in the beginning, but the revision is well worth the effort considering the benefits in the long run. Renaming a particular form of mental suffering should be accompanied by a broader debate of the entire diagnosis-evidence-based-practice (EBP)-symptom-reduction model as the normative factor driving the content and organisation of mental health services that may be detached from patients’ needs and reality, overlooks the trans-syndromal structure of mental difficulties, appraises the significance of the technical features over the relational and ritual components of care, and underestimates the lack of EBP group-to-individual generalisability. Individuals may make great strides in attaining well-being by accommodating to living with mental vulnerabilities through building resilience in the social and existential domains. Changing the name and the concept of ‘schizophrenia’, which goes beyond a mere semantic revision, may become the first step that allows catalysation of the process of modernising psychiatric science and services worldwide.

scholarly journals The Causality between Education and GDP Growth in Asian Countries

2015 ◽  
Vol 50 ◽  
pp. 28-35 ◽  
Author(s):  
Mohsen Mehrara ◽  
Maysam Musai
Keyword(s):  
Economic Growth ◽  
Formal Education ◽  
Panel Cointegration ◽  
Capital Formation ◽  
Cointegration Analysis ◽  
Point Of View ◽  
Asian Countries ◽  
Variable Model ◽  
Long Run ◽  
Educational Investments

This paper investigates the causal relationship between education and GDP in 40 Asian countries by using panel unit root tests and panel cointegration analysis for the period 1970-2010. A three-variable model is formulated with capital formation as the third variable. The results show a strong causality from investment and economic growth to education in these countries. Yet, education does not have any significant effects on GDP and investment in short- and long-run. It means that it is the capital formation and GDP that drives education in mentioned countries, not vice versa. So the findings of this paper support the point of view that it is higher economic growth that leads to higher education proxy. It seems that as the number of enrollments raise, the quality of the education declines. Moreover, the formal education systems are not market oriented in these countries. This may be the reason why huge educational investments in these developing countries fail to generate higher growth. By promoting practice-oriented training for students particularly in technical disciplines and matching education system to the needs of the labor market, it will help create long-term jobs and improve the country’s future prospects.

scholarly journals Valuing the Future, Discounting in Random Environments: A Review

2021 ◽  
Author(s):  
Jaume Masoliver ◽  
Miquel Montero ◽  
Josep Perelló ◽  
J. Doyne Farmer ◽  
John Geanakoplos
Keyword(s):  
Empirical Studies ◽  
Market Price ◽  
Point Of View ◽  
Random Environments ◽  
Long Run ◽  
Price Of Risk ◽  
Future Discounting ◽  
Pricing Theory ◽  
Risk Neutral Measures ◽  
Far Future

We address the process of discounting in random environments which allows to value the far future in economic terms. We review several approaches to the problem regarding different well-established stochastic market dynamics in the continuous-time context and include the Feynman-Kac approach. We also review the relation between bond pricing theory and discount and introduce the market price of risk and the risk neutral measures from an intuitive point of view devoid of excessive formalism. We provide the discount for each economic model and discuss their key results. We finally present a summary of our previous empirical studies on several countries of the long-run discount problem.

scholarly journals Collecting Microplastics in Gardens: Case Study (i) of Soil

2021 ◽  
Vol 9 ◽  
Author(s):  
Zahra Sobhani ◽  
Yunlong Luo ◽  
Christopher T. Gibson ◽  
Youhong Tang ◽  
Ravi Naidu ◽  
...  
Keyword(s):  
Signal To Noise Ratio ◽  
Point Of View ◽  
Signal To Noise ◽  
Statistical Point ◽  
Image Mapping ◽  
Noise Ratio ◽  
In The Beginning ◽  
Raman Image ◽  
Selection Of

As an emerging contaminant, microplastic is receiving increasing attention. However, the contamination source is not fully known, and new sources are still being identified. Herewith, we report that microplastics can be found in our gardens, either due to the wrongdoing of leaving plastic bubble wraps to be mixed with mulches or due to the use of plastic landscape fabrics in the mulch bed. In the beginning, they were of large sizes, such as > 5 mm. However, after 7 years in the garden, owing to natural degradation, weathering, or abrasion, microplastics are released. We categorize the plastic fragments into different groups, 5 mm–0.75 mm, 0.75 mm–100 μm, and 100–0.8 μm, using filters such as kitchenware, meaning we can collect microplastics in our gardens by ourselves. We then characterized the plastics using Raman image mapping and a logic-based algorithm to increase the signal-to-noise ratio and the image certainty. This is because the signal-to-noise ratio from a single Raman spectrum, or even from an individual peak, is significantly less than that from a spectrum matrix of Raman mapping (such as 1 vs. 50 × 50) that contains 2,500 spectra, from the statistical point of view. From the 10 g soil we sampled, we could detect the microplastics, including large (5 mm–100 μm) fragments and small (<100 μm) ones, suggesting the degradation fate of plastics in the gardens. Overall, these results warn us that we must be careful when we do gardening, including selection of plastic items for gardens.

scholarly journals Study of Human and Robot Social Interaction Using Artificial Cognition Methods

2020 ◽  
pp. 458-464
Author(s):  
Rupal Chaudhary
Keyword(s):  
Social Interaction ◽  
Control Systems ◽  
Mathematical Thinking ◽  
Point Of View ◽  
Wide Scope ◽  
Long Run ◽  
Normal Human ◽  
Express Information ◽  
The Individual ◽  
Human Robot Collaboration

Abstract. HRI challenges AI in numerous regards: dynamic, somewhat obscure conditions that were not initially intended for robots; a wide scope of circumstances with rich semantics to comprehend and decipher; physical associations with people that require fine, low-inactivity, yet socially satisfactory control systems; regular and multimodal correspondence. This paper is an endeavor to describe these difficulties and to introduce a lot of key dynamic issues that should be tended to for an intellectual robot to effectively impart space and assignments to a person. To begin with, we distinguish the individual and community oriented intellectual aptitudes required: mathematical thinking and circumstance appraisal dependent on point of view taking and cost-adequacy investigation; securing and the article talks about every one of these capacities, presents work executions and shows how they consolidate in a sound and unique human-robot collaboration deliberative design. Fortified by the aftereffects of the preliminary, we should in the long run exhibit how the board's express information, both symbolic and quantitative, is instrumental to more extravagant and more normal human-robot associations by squeezing for certain, human-level semantics inside the robot framework.

scholarly journals FDI location and exchange rates. is there really a relationship between the two?

2015 ◽  
Vol 13 (1) ◽  
pp. 642-651
Author(s):  
Kunofiwa Tsaurai
Keyword(s):  
South Africa ◽  
Exchange Rates ◽  
Coming Out ◽  
Causal Relation ◽  
Exact Nature ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run

The exchange rate led foreign direct investment (FDI), FDI led exchange rates and feedback effect hypotheses summarise the literature around the nature of the relationship between FDI and exchange rates. So many authors on this subject over a long period have been found to generally side with of the above-mentioned hypothesis or another without a consensus. Despite this lack of consensus with regard to the exact nature of the causal relation between these two variables, what is coming out clearly from the literature is that there indeed exist a relationship between FDI and exchange rates. The lack of consensus has prompted this current study that used the ARDL (Autoregressive distributed lag)-bounds testing approach. The study revealed the existence of causality from (1) the rand value to FDI in the long run and (2) FDI to the rand value only in the short run in South Africa. The author recommends that policies which strengthen the value of the rand should be put in place in order to attract FDI in the long run. The flow of FDI into South Africa will in turn not only stabilises the value of the rand.

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