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Theory of Interest and Life Contingencies With Pension Applications A Problem Solving Approach by Michael M_1 potx
Ngày tải lên :
21/06/2014, 08:20
... z(α), and the prices of life insurance and of the numeraire are All individuals purchase the same amount of annuities and life insurance and, for a given income, optimum utility increases with ... brium ( pa , pb = 1) is unique and stable Now consider unit taxes, ta and tb, imposed on annuities and life insurance with consumer prices denoted qa = pa + ta and qb = pb + tb, respectively ... X1 and X2 when purchased by a type α individual are c1 (α) = α and c2 (α) = − α, respectively The unit costs of Y are unity (= 1) Suppose that X1 and X2 are offered separately at prices p1 and...
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Theory of Interest and Life Contingencies With Pension Applications A Problem Solving Approach by Michael M_4 ppt
Ngày tải lên :
21/06/2014, 08:20
... (z) and r2 (z): r1 (z) < r p (z) < r2 (z) In the appendix we discuss the conditions that ensure positive holdings of annuities by both risk classes Comparing (9.9) and (9.10) with (8.25) and ... dx r p (h) dh (w(x) + c(x)a(M)) dx (9.15) The left-hand side of (9.15) increases with a(M), while the right hand side decreases with a(M) (figure 9.4) August 20, 2007 Time: 05:49pm chapter09.tex ... nonincreasing with z.1 Under this assumption transfers to the stochastically dominant group with higher life expectancy are positive, T1∗ > 0, and transfers to the dominated group with shorter...
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Theory of Interest and Life Contingencies With Pension Applications A Problem Solving Approach by Michael M_5 pptx
Ngày tải lên :
21/06/2014, 08:20
... studies (Hurd, McFadden, and Gan, 2003; Hurd, McFadden, and Merrill, 1999; Hurd, Smith, and Zissimopoulos, 2002; Hurd and McGarry, 1993; Manski, 1993) have tested this assumption and examined possible ... (c∗ , R∗ , α ∗ ) Denote the left hand sides of (7.1) and (7.3) by ϕ(c, α, R) and ψ(c, α, R), respectively We assume that second-order conditions are satisfied and relegate the technical analysis ... decreases with age An increase in a(M) increases consumption at all ages and decreases ˆ the retirement age The optimum level, a(M), is chosen by maximizing (6.11) with respect to c and a(M) As...
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Theory of Interest and Life Contingencies With Pension Applications A Problem Solving Approach by Michael M_7 pot
Ngày tải lên :
21/06/2014, 08:20
... equilibrium individuals with high longevities hold regular annuities and life insurance, those with low longevities hold period-certain annuities and life insurance, and those with intermediate longevities ... bundled costs with individual attributes This tends to reduce adverse selection and hence leads to lower prices Annuities bundled with medical care or with life insurance are prime examples, and there ... (Finkelstein and Poterba, 2002, 2004) A recent survey of annuity markets around the world (James and Song, 2001) reports increasing and thriving annuity markets in developed and developing countries and...
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Theory of Interest and Life Contingencies With Pension Applications A Problem Solving Approach by Michael M_9 doc
Ngày tải lên :
21/06/2014, 08:20
... demand and, 69, 70; asymmetric information and, 119–22; bequests and, 82; bundling and, 133; cost effects and, 119–20; couples and, 40–41; defined, 67; general model for, 69–71; insurance and, ... and, 1–2 investment, xiv; annuity sales and, 1; competitive equilibrium and, 51–53; low returns and, 35; moral hazard and, 51–55; optimum retirement age without annuities, 38–40; risk class and, ... equilibrium and, 56–58, 83–84; full information and, 87–88; income uncertainty and, 77–80; low returns and, 35; medical testing and, 3n2; optimum annuity taxation and, 125–28; period-certain annuities and, ...
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báo cáo hóa học:" Research Article Note on the Persistent Property of a Discrete Lotka-Volterra Competitive System with Delays and Feedback Controls" pptx
Ngày tải lên :
21/06/2014, 11:20
... Y.-H Fan and L.-L Wang, “Permanence for a discrete model with feedback control and delay,” Discrete Dynamics in Nature and Society, vol 2008, Article ID 945109, pages, 2008 11 L Wang and M Q Wang, ... competitive system with delays and feedback controls Recently, in Liao et al considered the following general nonautonomous discrete Lotka-Volterra competitive system with delays and feedback controls: ... A > and y > 0, and further suppose that (1) y n ≤ Ay n B n , n 1, 2, 2.1 Ai B n − i − 2.2 Then for any integer k ≤ n, y n ≤ Ak y n − k k−1 i Especially, if A < and B is bounded above with...
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Báo cáo khoa học: "Treatment of pathologic spinal fractures with combined radiofrequency ablation and balloon kyphoplasty" doc
Ngày tải lên :
09/08/2014, 04:21
... 2,5 ml for T12 and L3 vertebra, ml for L1, ml for L2 and ml for L4 vertebra Increases of 6% and 12% were measured respectively for anterior and middle wall of T12 vertebra and 10% and Page of (page ... primary disease being stable with VAS and ODI being 2% and 40% respectively Case A 64-year-old man with a known liver cancer diagnosed months ago, was presented to our clinic with severe pain in the ... VAS and the ODI were and 78% respectively According to the classification of Tomita et al [12], the patient had a score of RFA combined with BKP were planned for the T12 and L1 vertebrae and...
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Báo cáo y học: "Acute and critically ill peripartum cardiomyopathy and ‘bridge to’ therapeutic options: a single center experience with intra-aortic balloon pump, extra corporeal membrane oxygenation and continuous-flow left ventricular assist devices" pp
Ngày tải lên :
14/08/2014, 07:21
... came from SG and MDP SG, MDP, EVDC, FT, FM and IH collected data and prepared the article YVB, SB and FDS critically reviewed the paper SG and MDP finalized the text All authors read and approved ... treated with mechanical support for acute heart failure at our center (Table 1) All six patients were treated with an IABP and one patient was treated with ECMO Four patients were implanted with ... durability and their use is associated with improved survival and functional capacity [25,26] There are no published series on the use of a continuous-flow device in patients with PPCM Materials and...
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Chapter 9: Working with Selections and Selection Layers
Ngày tải lên :
27/08/2012, 14:31
... artists like to get their hands dirty with a good dip pen, India ink, and correction fluid and would rather just scan inked line art into Manga Studio for touch-ups and screentoning I cover the ... box until all dirt and rough lines that may have scanned in disappear and the line art looks how you’d like it to be Click the Move and Transform tab and resize, reposition, and rotate your image ... Marker, and Fill tools, as well as closing any gaps in your line art with the Join Line tool Then, I discuss some of the cool special effects that you can add to your line art with the Airbrush and...
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Báo cáo y học: "Inhalation with Fucose and Galactose for Treatment of Pseudomonas Aeruginosa in Cystic Fibrosis Patients"
Ngày tải lên :
03/11/2012, 11:48
... were treated with antibiotics and that an effect of inhalation alone and inhalation with antibiotics could be evaluated Of course the adequate control would have been inhalation with the diluting ... Figure 1: Sputum counts of P aeruginosa before (pre) and after (post) treatment with inhalation alone (p i.) or combined treatment with inhalation and i v antibiotics (p i + i v.) Mean+SEM *: P < ... treatment with fucose/galactose inhalation alone (P < 0.05) but not with combined therapy (P> 0.05) (Figure 3) Figure 3: TNFα serum protein levels before (pre) and after (post) treatment with inhalation...
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English with photos and words -Little Picture Dictionary
Ngày tải lên :
16/04/2013, 23:27
... Words balloons birthday cake Balloons are rubber birthday You have a Birthday cakes are sacks that are filled with air or other birthday every sweet and delicious! year gases chocolate candy Candy ... meets the land, the water area between high tide and low tide reef sand kite net You can fly a kite on windy days A net is used to catch things sandcastle A popsicles is a Reefs are warm, Sand is ... space and back night sky is Solar System We Uranus looks bluish Astronauts wear down again, carrying spacesuits when they another sun, but and is covered with get our light and people and equipment...
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TChon 14 PRESENT PERFECT WITH SINCE AND FOR.doc
Ngày tải lên :
08/07/2013, 01:27
... had running water, gas and electricity but for some reasons, there was no electricity light in the kitchen It was some thing quite unexpected: a house with electricity but without a kitchen light ... VII Read the passage and answer the following questions: We moved into our new house on a warm September day It was not really a new house It was a hundred and four years old, but it was ... ………………………………… math at this school in 1986 VI Complete the dialogue between you and Lan: Lan: Would you like to go to the movie with me? You: Lan: What a pity! How about tomorrow night?...
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The essence of object oriented programming with java and UML
Ngày tải lên :
22/08/2013, 14:52
... behaviors and responsibilities of those objects, and how the objects interact with each other OO can produce elegant, easy to understand designs, which in turn leads to elegant and easy to understand ... concepts, and of course, its own vocabulary It is very important for you to understand the main concepts, and to be familiar with the specialized vocabulary Even if you already are familiar with some ... come and go For example, a car has wheels, but would not be a car without the wheels A library has books, but the books can come and go A library without books is simply an empty library A book without...
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Reported Speech with Infinitive and Geủnd
Ngày tải lên :
05/09/2013, 04:10
... “you should go home and rest for a while.” (advise) ……………………………………………………………………………………… 24 “You should not drink beer.” (advise) ……………………………………………………………………………………… 25 “ Come and see me whenever ... …………………………………………………………………………………………………… 22 He said: “I haven’t had linch with a friend for ages.” …………………………………………………………………………………………………… 23 He said: “ I hope my friend will come and visit me in Marid.” …………………………………………………………………………………………………… ... you, I’d stop smoking …………………………………………………………………………………………………… 11 “Have your passport ready in your hand.” The custom officer said to the passengers …………………………………………………………………………………………………… 12 “I didn’t...
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Hydromagnetic convective flow past a vertical porous plate through a porous medium with suction and heat source
Ngày tải lên :
05/09/2013, 16:10
... suction and heat flux and transverse magnetic field Let the x′-axis be taken in vertically upward direction along the plate and y′-axis normal to it Neglecting the induced magnetic field and the ... equations (15), (17), (29), (32), (35) and (36) in equation (9) and equations (16), (18), (30), (31), (33) and (34) in equation (10), the solutions for velocity and temperature of the flow field are ... study brings out the following results of physical interest on the velocity and temperature of the flow field and also on the wall shear stress and rate of heat transfer at the wall The effect...
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reported speech with infinitive and gerund
Ngày tải lên :
24/10/2013, 01:11
... Jane accused Exercise Rewrite the following sentences with Infinitive or Gerund “ I will bring the sandwiches to the party” said Helen Helen offered “ ... “ It was you and only you who stole the cake from the fridge” my mother told my sister My mother accused “I’m awful sorry, I will never again use your car without permission” ... 10 Under the law, drivers and all passengers must wear seat belt while in a moving vehicle.(encourage, require, permit) Drivers and all passengers Exercise...
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