Next Issue

Table of Contents

Risks, Volume 1, Issue 1 (June 2013), Pages 1-44

  • Issues are regarded as officially published after their release is announced to the table of contents alert mailing list.
  • You may sign up for e-mail alerts to receive table of contents of newly released issues.
  • PDF is the official format for papers published in both, html and pdf forms. To view the papers in pdf format, click on the "PDF Full-text" link, and use the free Adobe Readerexternal link to open them.
View options order results:
result details:
Displaying articles 1-4
Export citation of selected articles as:

Editorial

Jump to: Research

Open AccessEditorial Surrounding Risks
Risks 2013, 1(1), 43-44; doi:10.3390/risks1010043
Received: 24 May 2013 / Accepted: 27 May 2013 / Published: 30 May 2013
Cited by 1 | PDF Full-text (102 KB) | HTML Full-text | XML Full-text
Abstract
Research in insurance and finance was always intersecting although they were originally and generally viewed as separate disciplines. Insurance is about transferring risks between parties such that the burdens of risks are borne by those who can. This makes insurance transactions a beneficial
[...] Read more.
Research in insurance and finance was always intersecting although they were originally and generally viewed as separate disciplines. Insurance is about transferring risks between parties such that the burdens of risks are borne by those who can. This makes insurance transactions a beneficial activity for the society. It calls on detection, modelling, valuation, and controlling of risks. One of the main sources of control is diversification of risks and in that respect it becomes an issue in itself to clarify diversifiability of risks. However, many diversifiable risks are not, by nature or by contract design, separable from non-diversifiable risks that are, on the other hand, sometimes traded in financial markets and sometimes not. A key observation is that the economic risk came before the insurance contract: Mother earth destroys and kills incidentally and mercilessly, but the uncertainty of economic consequences can be more or less cleverly distributed by the introduction of an insurance market. [...] Full article

Research

Jump to: Editorial

Open AccessArticle Early Warning to Insolvency in the Pension Fund: The French Case
Risks 2013, 1(1), 1-13; doi:10.3390/risks1010001
Received: 9 November 2012 / Revised: 4 January 2013 / Accepted: 7 January 2013 / Published: 18 January 2013
PDF Full-text (269 KB) | HTML Full-text | XML Full-text
Abstract
The financial equilibrium of pension funds relies on the appropriate computation of retirement benefits, taking account of future payments and discount rates. Short-term errors in the commitment for retirement benefits, ill-suited investment in the stock market, or improper mixture with pay-as-you-go payments have
[...] Read more.
The financial equilibrium of pension funds relies on the appropriate computation of retirement benefits, taking account of future payments and discount rates. Short-term errors in the commitment for retirement benefits, ill-suited investment in the stock market, or improper mixture with pay-as-you-go payments have long-term consequences and may lead the pension fund to insolvency. The differential equation governing the current assets shows the respective weights associated with the error on the interest rate, the error on the extra bonus, and the error made in forecasting mortality. These weights are estimated through simulations. A short follow-up is sufficient to estimate the three errors. A threshold for the extra interest rate to be earned on the financial market is given to counter-balance the extra bonus when mortality is forecast correctly. Full article
Open AccessArticle Evaluating Risk Measures and Capital Allocations Based on Multi-Losses Driven by a Heavy-Tailed Background Risk: The Multivariate Pareto-II Model
Risks 2013, 1(1), 14-33; doi:10.3390/risks1010014
Received: 14 January 2013 / Revised: 31 January 2013 / Accepted: 25 February 2013 / Published: 5 March 2013
Cited by 10 | PDF Full-text (278 KB) | HTML Full-text | XML Full-text
Abstract
Evaluating risk measures, premiums, and capital allocation based on dependent multi-losses is a notoriously difficult task. In this paper, we demonstrate how this can be successfully accomplished when losses follow the multivariate Pareto distribution of the second kind, which is an attractive model
[...] Read more.
Evaluating risk measures, premiums, and capital allocation based on dependent multi-losses is a notoriously difficult task. In this paper, we demonstrate how this can be successfully accomplished when losses follow the multivariate Pareto distribution of the second kind, which is an attractive model for multi-losses whose dependence and tail heaviness are influenced by a heavy-tailed background risk. A particular attention is given to the distortion and weighted risk measures and allocations, as well as their special cases such as the conditional layer expectation, tail value at risk, and the truncated tail value at risk. We derive formulas that are either of closed form or follow well-defined recursive procedures. In either case, their computational use is straightforward. Full article
Open AccessArticle Understanding the “Black Box” of Employer Decisions about Health Insurance Benefits: The Case of Depression Products
Risks 2013, 1(1), 34-42; doi:10.3390/risks1010034
Received: 7 March 2013 / Revised: 20 May 2013 / Accepted: 21 May 2013 / Published: 29 May 2013
Cited by 2 | PDF Full-text (175 KB) | HTML Full-text | XML Full-text
Abstract
In a randomized trial of two interventions on employer health benefit decision-making, 156 employers in the evidence-based (EB) condition attended a two hour presentation reviewing scientific evidence demonstrating depression products that increase high quality treatment of depression in the workforce provide the employer
[...] Read more.
In a randomized trial of two interventions on employer health benefit decision-making, 156 employers in the evidence-based (EB) condition attended a two hour presentation reviewing scientific evidence demonstrating depression products that increase high quality treatment of depression in the workforce provide the employer a return on investment. One-hundred sixty-nine employers participating in the usual care (UC) condition attended a similar length presentation reviewing scientific evidence supporting healthcare effectiveness data and information set (HEDIS) monitoring. This study described the decision-making process in 264 (81.2%) employers completing 12 month follow-up. The EB intervention did not increase the proportion of employers who discussed depression products with others in the company (29.2% versus 32.1%, p > 0.10), but it did significantly influence the content of the discussions that occurred. Discussion in EB companies promoted the capacity of a depression product to realize a return on investment (18.4% versus 4.7%, p = 0.05) and to improve productivity (47.4% versus 25.6%, p = 0.06) more often than discussions in UC companies. Almost half of EB and UC employers reported that return on investment has a large impact on health benefit decision-making. These results demonstrate the difficulty of influencing employer decisions about health benefits using group presentations. Full article

Journal Contact

MDPI AG
Risks Editorial Office
St. Alban-Anlage 66, 4052 Basel, Switzerland
risks@mdpi.com
Tel. +41 61 683 77 34
Fax: +41 61 302 89 18
Editorial Board
Contact Details Submit to Risks
Back to Top