scholarly journals Self-Annuitization, Consumption Shortfall in Retirement and Asset Allocation: The Annuity Benchmark

2002 ◽  
Vol 1 (3) ◽  
pp. 269-288 ◽  
Author(s):  
PETER ALBRECHT ◽  
RAIMOND MAURER
Keyword(s):  
Capital Market ◽  
Asset Allocation ◽  
Operating Cost ◽  
Insurance Company ◽  
Fixed Amount ◽  
Life Annuity ◽  
Investment Opportunities ◽  
Single Premium ◽  
Personal Probability

The present paper considers a retiree of a certain age who is endowed with a certain amount of wealth and is facing alternative investment opportunities. One possibility is to buy a single premium immediate (participating) annuity-contract. This insurance product pays a life-long pension payment of a certain amount, depending e.g. on the age of the retiree, the operating cost of the insurance company and the return the company is able to realize from its investments. The alternative possibility is to invest the single premium into a portfolio of mutual funds and to periodically withdraw a fixed amount that is assumed to be equivalent to the consumption stream generated by the annuity. The particular advantage of this self-annuitization strategy compared to the life annuity is its greater liquidity and the possibility of leaving money for heirs. However, the risk of self-annuitization is to outlive the assets before the uncertain date of death. The risk can thus be specified by considering the probability of running out of money before the uncertain date of death. The determination of this personal probability of consumption shortfall with respect to German insurance and capital market conditions is the objective of this paper.

scholarly journals Optimization of Financial Asset Neutrosophic Portfolios

Mathematics ◽  
2021 ◽  
Vol 9 (11) ◽  
pp. 1162
Author(s):  
Marcel-Ioan Boloș ◽  
Ioana-Alexandra Bradea ◽  
Camelia Delcea
Keyword(s):  
Capital Market ◽  
Financial Risk ◽  
Financial Asset ◽  
Financial Assets ◽  
Portfolio Risk ◽  
Financial Return ◽  
Additional Information ◽  
Triangular Numbers ◽  
The Capital Market

The purpose of this paper was to model, with the help of neutrosophic fuzzy numbers, the optimal financial asset portfolios, offering additional information to those investing in the capital market. The optimal neutrosophic portfolios are those categories of portfolios consisting of two or more financial assets, modeled using neutrosophic triangular numbers, that allow for the determination of financial performance indicators, respectively the neutrosophic average, the neutrosophic risk, for each financial asset, and the neutrosophic covariance as well as the determination of the portfolio return, respectively of the portfolio risk. There are two essential conditions established by rational investors on the capital market to obtain an optimal financial assets portfolio, respectively by fixing the financial return at the estimated level as well as minimizing the risk of the financial assets neutrosophic portfolio. These conditions allowed us to compute the financial assets’ share in the total value of the neutrosophic portfolios, for which the financial return reaches the level set by investors and the financial risk has the minimum value. In financial terms, the financial assets’ share answers the legitimate question of rational investors in the capital market regarding the amount of money they must invest in compliance with the optimal conditions regarding the neutrosophic return and risk.

scholarly journals SPECTROPHOTOMETRIC METHODS FOR DETERMINATION OF SOFOSBUVIR AND DACLATASVIR IN PURE AND DOSAGE FORMS

2021 ◽  
pp. 112-119
Author(s):  
MONIR Z. SAAD ◽  
ATEF AMER ◽  
KHALED ELGENDY ◽  
BASEM ELGENDY
Keyword(s):  
Indigo Carmine ◽  
Reference Method ◽  
Standard Addition ◽  
Pharmaceutical Formulations ◽  
Molar Absorptivity ◽  
Experimental Conditions ◽  
Fixed Amount ◽  
Alizarin Red ◽  
Spectrophotometric Methods

Objective: Two simple, sensitive and accurate spectrophotometric methods have been developed for the determination of sofosbuvir (SOF) and daclatasvir (DAC) in pure forms and pharmaceutical formulations. Methods: The proposed methods are based on the oxidation of SOF and DAC by a known excess of cerium(IV) ammonium nitrate in sulphuric acid medium followed by determination of unreacted cerium(IV) by adding a fixed amount of indigo carmine (IC) and alizarin red S (ARS) dyes followed by measuring the absorbance at 610 and 360 nm, respectively. The experimental conditions affecting the reaction were studied and optimized. Results: The beer’s law was obeyed in the concentration ranges of 0.2-3.0, 0.2-4.0 for SOF and 0.5-4.5 and 0.5-5.0 μg/ml for DAC using IC and ARS methods, respectively with a correlation coefficient ≥ 0.9991. The calculated molar absorptivity values are 2.354 × 104, 1.933 × 104 for SOF and 1.786 × 104 and 2.015 × 104 L/mol. cm for DAC using IC and ARS methods, respectively u. The limits of detection and quantification are also reported. Intra-day and inter-day precision and accuracy of the methods have been evaluated. Conclusion: The methods were successfully applied to the assay of SOF and DAC in tablets and the results were statistically compared with those of the reference method by applying Student’s t-test and F-test. No interference was observed from the common tablet excipients. The accuracy and reliability of the methods were further ascertained by performing recovery studies using the standard addition method.

Deadhead Minimization with a Flexible Facility Locator Tool

2021 ◽  
pp. 036119812110444
Author(s):  
Kara Todd ◽  
Freyja Brandel-Tanis ◽  
Daniel Arias ◽  
Kari Edison Watkins
Keyword(s):  
Open Source Software ◽  
Operating Cost ◽  
Bus Rapid Transit ◽  
Rapid Transit ◽  
Flexible Tool ◽  
The Subject ◽  
Transit Agencies ◽  
A Site

As transit agencies expand, they may outgrow their existing bus storage and service facilities. When selecting a site for an additional facility, an important consideration is the change in bus deadhead time, which affects the agency’s operating costs. Minimizing bus deadhead time is the subject of many studies, though agencies may lack the necessary software or programming skill to implement those methods. This study presents a flexible tool for determination of bus facility location. Using the R dodgr package, it evaluates each candidate site based on a given bus network and existing depots and calculates the network minimum deadhead time for each potential set of facilities. Importantly, the tool could be used by any transit agency, no matter its resources. It runs on open-source software and uses only General Transit Feed Specification (GTFS) and data inputs readily available to transit agencies in the U.S.A., filling the accessibility gap identified in the literature. The tool is demonstrated through a case study with the Metropolitan Atlanta Rapid Transit Authority (MARTA), which is considering a new bus depot as it builds its bus rapid transit network. The case study used current MARTA bus GTFS data, existing depot locations, and vacant properties from Fulton County, Georgia. The tool evaluated 17 candidate sites and found that the winning site would save 29.7 deadhead hours on a typical weekday, which translates to more than $12,000 daily based on operating cost assumptions. The output provides important guidance to transit agencies evaluating sites for a new bus depot.

scholarly journals Sensitive and rapid titrimetric and spectrophotometric methods for the determination of stavudine in pharmaceuticals using bromate-bromide and three dyes

2008 ◽  
Vol 80 (2) ◽  
pp. 253-262 ◽  
Author(s):  
Kanakapura Basavaiah ◽  
Veeraiah Ramakrishna ◽  
Chikkaswamy Somashekar ◽  
Urdigere R. Anil Kumar
Keyword(s):  
Dosage Forms ◽  
Linear Increase ◽  
Thymol Blue ◽  
Fixed Amount ◽  
Rapid Methods ◽  
Spectrophotometric Methods ◽  
Back Titration ◽  
Bulk Drug ◽  
Hcl Medium

Four sensitive and rapid methods for the determination of stavudine (STV) in bulk drug and in dosage forms were developed and optimized. In titrimetry, aqueous solution of STV was treated with a known excess of bromate-bromide in HCl medium followed by estimation of unreacted bromine by iodometric back titration. Spectrophotometric methods involve the addition of a measured excess of bromate-bromide in HCl medium and subsequent estimation of the residual bromine by reacting with a fixed amount of methyl orange, indigocarmine or thymol blue followed by measurement of absorbance at 520 nm (method A), 610 nm (method B) or 550 nm (method C). In all the methods, the amount of bromate reacted corresponds to the amount of STV. Calculations in titrimetry were based on a 1:0.666 (STV:KBrO3) stoichiometry and the method was found to be applicable over 3.5-10 mg range. A linear increase in absorbance with concentration of STV was observed in the spectrophotometric methods, and the Beer's law was obeyed over the concentration ranges 0.125-1.75, 1-10 and 1-9.0 µg mL-1 STV for method A, method B and method C, respectively. The methods when applied to the determination of STV in tablets and capsules were found to give satisfactory results.

Determination of the Number of Input Data Through Bi-Objective Confidence-Based Design Optimization

2019 ◽  
Author(s):  
Yongsu Jung ◽  
Hyunkyoo Cho ◽  
Zunyi Duan ◽  
Ikjin Lee
Keyword(s):  
Design Optimization ◽  
Statistical Models ◽  
Input Data ◽  
Operating Cost ◽  
Optimal Number ◽  
Practical Applications ◽  
Reliability Based Design ◽  
Input Model Uncertainty ◽  
Stochastic Sensitivity Analysis

Abstract The confidence of reliability indicates that reliability has randomness induced by any epistemic uncertainties, and these uncertainties can be reduced and manipulated by additional knowledge. In this paper, the uncertainty of input statistical models is mainly treated in the context of confidence-based design optimization (CBDO). Thus, the objective of this paper is to determine the optimal number of data for reliability-based design optimization (RBDO) under input model uncertainty. The uncertainty of input statistical models due to insufficient data is frequent in practical applications since collecting and testing samples of random variables requires engineering efforts. There are two ways to increase the confidence of reliability to be satisfied, which are shifting design vector and supplementing input data. The purpose of this research is to find balanced optimum accounting for a trade-off between two operations since both operations lead to the growth of overall cost. Therefore, it is necessary to optimally distribute the resources to two costs which are denoted as the operating cost of design vector and the development cost of acquiring new data. In this study, two types of costs are integrated as a bi-objective function, satisfying the probabilistic constraint for the confidence of reliability. The number of data is regarded as design variable to be optimized, and stochastic sensitivity analysis of reliability with respect to the number of data is developed. The proposed bi-objective CBDO can determine the optimal number of input data based on the current dataset. Then, the designers decide the additional number of tests for collecting input data according to the optimum of bi-objective CBDO to minimize the overall cost.

scholarly journals MENENTUKAN FORMULA PREMI TAHUNAN TIDAK KONSTAN PADA ASURANSI JOINT LIFE

2015 ◽  
Vol 4 (4) ◽  
pp. 152
Author(s):  
I GEDE BAGUS PASEK SUBADRA ◽  
I NYOMAN WIDANA ◽  
DESAK PUTU EKA NILAKUSMAWATI
Keyword(s):  
Life Insurance ◽  
Insurance Contracts ◽  
Life Annuity ◽  
Single Premium ◽  
Constant Interest ◽  
Annual Premium

The aim of this research was to determine the annual premium formula that turns on the joint life insurance. This formula uses the reference insurance contracts of the previous research Insurance Models for Joint Life and Last Survivor Benefits. The first step is to determine the value of mortality tables by using the Table Helligman-pollard. Furthermore, determining the value of a life annuity and single premium. The results of this research was formula to be affected by the changing premium () with the increase and decrease in constant interest.

scholarly journals OPTIMAL ASSET ALLOCATION IN LIFE INSURANCE: THE IMPACT OF REGULATION

2016 ◽  
Vol 46 (3) ◽  
pp. 605-626 ◽  
Author(s):  
An Chen ◽  
Peter Hieber
Keyword(s):  
Life Insurance ◽  
Asset Allocation ◽  
Regulatory Policy ◽  
Capital Requirements ◽  
Insurance Company ◽  
Traffic Light ◽  
Optimal Insurance ◽  
Insurance Contracts ◽  
Solvency Capital ◽  
The Impact

AbstractIn a typical equity-linked life insurance contract, the insurance company is entitled to a share of return surpluses as compensation for the return guarantee granted to the policyholders. The set of possible contract terms might, however, be restricted by a regulatory default constraint — a fact that can force the two parties to initiate sub-optimal insurance contracts. We show that this effect can be mitigated if regulatory policy is more flexible. We suggest that the regulator implement a traffic light system where companies are forced to reduce the riskiness of their asset allocation in distress. In a utility-based framework, we show that the introduction of such a system can increase the benefits of the policyholder without deteriorating the benefits of the insurance company. At the same time, default probabilities (and thus solvency capital requirements) can be reduced.

Economic Power Dispatch with Emission Constraint and Valve Point Loading Effect Using Moth Flame Optimization Algorithm

2018 ◽  
Vol 28 ◽  
pp. 139-149 ◽  
Author(s):  
Asmaa A. Elsakaan ◽  
Ragab Abdel-Aziz El-Sehiemy ◽  
Sahar S. Kaddah ◽  
Mohammed I. Elsaid
Keyword(s):  
Economic Dispatch ◽  
Operating Cost ◽  
Optimization Task ◽  
System Generation ◽  
Generation Cost ◽  
Moth Flame Optimization Algorithm ◽  
Power Outputs ◽  
Optimum Solution ◽  
Economic Power Dispatch

Economic dispatch (ED) is an important optimization task in power system which involves determination of the optimal combination of power outputs for all generating units which will minimize the total fuel cost while satisfying load constraints. There are three criteria in solving the economic load dispatch problem. They are minimizing the total generator operating cost, total emission cost and multi-objective (cost and emission). This paper proposes Moth Flam Optimization (MFO) algorithm for solving the economic dispatch problem with valve point effects and emissions. It determines the optimal generation schedule of generating units by minimizing three criteria. Two test systems consisting of 6 generating units and isolated microgrid have been used to illustrate the effectiveness of the proposed MFO method. The results obtained from MFO is compared with different algorithms. The results show better global convergence and also gives good optimum solution by reducing system generation cost and emission cost.

Sign in / Sign up

Export Citation Format

Share Document