Book Details
Acts of God and Man : Ruminations on Risk and Insurance
A distinctive characteristic of earthquakes, hurricanes, bombings, and other insurance risks is that they impact the values of stocks, bonds, commodities, and other market-based financial products, while remaining largely unaffected by or "aloof" from the behavior of markets. Quantifying such risks given limited data is difficult yet crucial for achieving the financing objectives of insurance. Powers begins with a discussion of how risk impacts our lives, health, and possessions and proceeds to introduce the statistical techniques necessary for analyzing these uncertainties. He then considers the experience of risk from the perspectives of both policyholders and insurance companies, and compares their respective responses.
Preface
Acknowledgments
PART 1. Living with risk
1. The alpha and the omega of risk The Significance of Mortality
2. Into the unknown Modeling Uncertainty
3. The Shape of things to come probabilities and parameters
4. The Value of Experience Independence and estimation
5. It's All in your hear Bayesian decision making
PART 2. The Realm of Insurance
6. Aloofness and Quasi-Aloofness Defining Insurance Risks
7. Trustworthy Transfer; Probable Pooling Financing Insurance Risks.
8. God-Awful Guessing and Bad Behavior Solvency and Underwriting
9. The Good, the Bad, The Role of Risk Classification
10. ..And the lawyerly Liability and Government Compensation
PART 3. Scientific Challenges
11. What is Randomness? Knowable and Unknowable Complexity
12. Patterns, Real and Imagined Observation and Theory
13. False Choices and Black Boxes the Costs of Limited Data
14. Nullifying the Dull Hypothesis Conventional Versus Personalized Science
15. Games and the Mind Modeling Human Behavior
Notes
Author's Editorials and other writings
Bibliography
Index
REDISCOVERING GOD WITH TRANSCENDENTAL ARGUMENT : A CONTEMPORARY INTERPRETATION OF MONISTIC KASHMIRI SAIVA PHILOSOPHY (Suny Series)
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