... but the positive effect of higher survival probability on expected utility dominates. The effect on the welfare of other individuals facing only resource redistribution depends on the shape of the ... example, the common use of life expectancy as the explanatory variable for the level of savings... However, when the change ˆ in R is also taken into account, the direction of the ... distribution of bequests that become initial endowments of a subsequent generation. Thus, analysis of the long-term effects of changes in longevity has to focus on the (ergodic) evolution of the distribution
Ngày tải lên: 20/06/2014, 20:20
... description of the motivation for and the stipulations of these annuities from a textbook for actuaries: These are usually effected to avoid the disappointment that is often felt in the event of the ... follow the standard assumption that the sign of the price of each good changes in the opposite direction to the sign of profits from sales of this good. The following assumption about the relation ... the buyers of this type of annuity, weighted by the equilibrium amounts purchased. Consequently, these prices are higher than the average expected lifetime of the buyers, reflecting the adverse
Ngày tải lên: 20/06/2014, 20:20
The Economic Theory of Annuities by Eytan Sheshinski_1 pdf
... tends to mitigate the effects of adverse selection because, when bundled, the negative correlation between the costs of these products reduces the overall variation of the costs of the bundle with ... insurance. Expected costs of medical insurance, for example, depend on the health characteristics of the insured. Of course, the value of such insurance to the purchaser depends on the same characteristics. ... where a is the amount of annuities, z is expected lifetime, b is the amount of life insurance (=bequests), and y is the amount of the numeraire... in the population over the ¯ interval
Ngày tải lên: 21/06/2014, 07:20
The Economic Theory of Annuities by Eytan Sheshinski_6 pdf
... total consumption in the second period. The second term is the sum of the expected utilities of two surviving individuals, while the third is the expected utility of one survivor. The budget constraint ... age, its rate of decline being equal to the product of the inverse of the coefficient of relative risk aversion and the hazard rate. Optimum retirement age, ˆ R, is determined by the same condition ... constant (figure 5.2). The reason for the difference in the pattern of optimum retirement is straightforward. Without discounting, the importance of a marginal increase in the length of life does not
Ngày tải lên: 21/06/2014, 07:20
Sample chapter for the economic theory of annuities_1 pdf
... but the positive effect of higher survival probability on expected utility dominates. The effect on the welfare of other individuals facing only resource redistribution depends on the shape of the ... information on the survival proba- bilities of individuals and a zero rate of interest, the price of a unit of second-period consumption, c 2h , is equal to the survival probability of each annuitant. ... distribution of bequests that become initial endowments of a subsequent generation. Thus, analysis of the long-term effects of changes in longevity has to focus on the (ergodic) evolution of the distribution
Ngày tải lên: 21/06/2014, 09:20
Sample chapter for the economic theory of annuities_2 pdf
... description of the motivation for and the stipulations of these annuities from a textbook for actuaries: These are usually effected to avoid the disappointment that is often felt in the event of the ... follow the standard assumption that the sign of the price of each good changes in the opposite direction to the sign of profits from sales of this good. The following assumption about the relation ... the buyers of this type of annuity, weighted by the equilibrium amounts purchased. Consequently, these prices are higher than the average expected lifetime of the buyers, reflecting the adverse
Ngày tải lên: 21/06/2014, 09:20
Sample chapter for the economic theory of annuities_3 pdf
... < T. The pooling rate of return on annuities, reflecting adverse selection in the purchase of annuities in equilibrium, is lower than the rate of return on annuities purchased prior to the realization ... fully specified at the time of purchase or sale We continue to denote the annuities held by individuals during their early ages by a(z), 0 ≤ z ≤ M The rate of return on these annuities ... p)F 2 (z) is the rate of return on annuities purchased prior to age M. Hence the last term on the right hand side of (9.8) is equal to F (M)a(M) = M 0 F (z)(w(z) − c) dz. Thus, the no-arbitrage
Ngày tải lên: 21/06/2014, 09:20
Expectation Damages The Objective Theory Of Contracts And The .Pdf
... care on the part of the vendee have been avoided.' We, therefore, conclude that the true measure of the plaintiffs damage in the present case is the difference between the value to him of a perfect ... that the operation was unsuccessful and the hand was worse than before if the only goal of the operation was to improve the hand's appearance If one of the goals of the operation, and perhaps the ... for the harm caused by the breach That harm, in turn, is the loss suffered by the promisee when the promisor failed to perform his or her promise-in other words, the value to the promisee of the
Ngày tải lên: 10/05/2023, 23:16
Luận Văn Risk And Protective Factors For Suicidal Behaviors In Mexican Youth Evidence For The Interpersonal Theory Of Suicide.pdf
... to their problems Most suicidal people give definite warning signals of their suicidal intentions, but other are often unaware of the significance of these warning or unsure what to about them ... are relevant to their experience Second, we aimed to examine suicidal behavior among Mexican youth within the framework of the interpersonal theory of suicide (Joiner, 2005) This theory is particularly ... Youth: Evidence for the Interpersonal Theory of Suicide by Maria Gabriela Hurtado Alvarado Submitted to the Graduate Faculty as partial fulfillment of the requirements for the Master of Arts Degree
Ngày tải lên: 20/06/2023, 14:27
Tài liệu The Economic Value Of Breast-feeding pdf
... artificial feeding of the infant Thus the cost of breastfeeding, Cpr, equals the summations of the costs of all additional foods eaten by the mother to produce the breast milk (whether that food ... before, during, or after the lactation period) plus the value of the mother's time utilized in breastfeeding The cost of artificial feeding equals the sum of all the costs of the goods needed to feed ... brush The purchase of adequate quantities of chemical disinfectant is beyond the means of most of the world's mothers But unless an extra stove and an extra pot besides the one needed for the family
Ngày tải lên: 14/02/2014, 21:20
The RNA world hypothesis: the worst theory of theearly evolution of life
... Access The RNA world hypothesis: the worst theory of the early evolution of life (except for all the others) a Harold S Bernhardt Abstract The problems associated with the RNA world hypothesis ... is the cornerstone of the RNA World. Nevertheless, there is a lot going for the RNA World (Bernhardt summarizes much of the evidence, and I add more below) whereas the other hypothes es on the ... Because of the ability of these naturally occurring RNA riboswitches to bind protein enzyme cofactors, and because many of these cofactors possess non-functional fragments of RNA – one of the earliest
Ngày tải lên: 13/03/2014, 19:12
Lectures On The Algebraic Theory Of Fields ppt
... familiarity with the elementary topology of topological groups and of the real and complex number fields. Most of the material of these notes is to be found in the notes of Artin and the books of Artin, ... fields. These lec- tures were preceded by an elementary course on group theory, vector spaces and ideal theory of rings—especially of Noetherian rings. A knowledge of these is presupposed in these ... Lectures on the Algebraic Theory of Fields By K.G. Ramanathan Tata Institute of Fundamental Research, Bombay 1956 Lectures on the Algebraic Theory of Fields By K.G. Ramanathan Tata Institute of Fundamental
Ngày tải lên: 16/03/2014, 15:20
The Gentle Art Of Cooking Wives pdf
... clothing of the trees to pieces... in their ears; warmed them with her love and brightness; soothed their care-lined brows and filled their hearts with a sense of the nearness of the Giver ... the glow of the big lamp and the leisure of the evening, while Constance’s grand piano seemed to stir the very air with a 24 The Gentle Art of Cooking Wives dream of ... chair in the ingle-nook and watched the hanging of the oyster stew upon the crane 16 The Gentle Art of Cooking Wives For a time the gentle simmering of the appetizing
Ngày tải lên: 16/03/2014, 16:20
Báo cáo khoa học: Biochemical and spectroscopic characterization of the bacterial phytochrome of Pseudomonas aeruginosa pdf
... to the N-terminus of the protein. An A-ring endo-vinyl group of the chromophore is abso- lutely required for this covalent attachment [15,21]. Our data support the proposal that the lack of the conserved ... therefore the site and kind of attachment of the bilin chromophore in the bacterial phytochromes is controversial [1,21,22]. To investigate whether the chromophore is attached via a thioether linkage ... almost all other known members of the classic phytochrome family [12,24]. More recent reports also revealed the presence of the Pfr ground state in Agp2 from A. tumefaciens and the BphPs of Rhodopseudo- monas
Ngày tải lên: 16/03/2014, 18:20
The Unfortunate Death of Casey Sennet pdf
... a-and then, the men made us swear— they made us swear never to tell the truth A-and then they arranged the whole thing, the wreck and the funeral and everything It was a lie They ate ... from the dollar store The chair customarily filled by the hung-over mass of her father pleaded vacant, leaving Casey to assume the man was off gambling... saw the car, I was at the ... [...]... They— they took us to this— this garage or something and…” She went quiet, falling onto the couch and crumpling inwards “They… they ate him, right there in front of us Th -the monsters
Ngày tải lên: 22/03/2014, 09:20
Đề tài " On the K-theory of local fields " ppt
... Annals of Mathematics On the K -theory of local fields By Lars Hesselholt and Ib Madsen* Annals of Mathematics, 158 (2003), 1–113 On the K -theory of local fields By Lars Hesselholt ... the identification of the E -term is a consequence of the celebrated theorem of Suslin, [43], that ⊗(t/2) ¯ Kt (K, Z/pv ) = µpv e For K a finite extension of Qp , the p-adic homotopy type of the ... ∞ (Cpn , T (A|K)) except for the summands with v < N The theorem follows Proof of Theorem C The proof is by induction on v; the basic case v = is Theorem 6.1.4 In the induction step, we write
Ngày tải lên: 22/03/2014, 15:21
Tài liệu The General Theory of Employment, Interest, and Money docx
... cost of the employment in question [1] . The excess of the value of the resulting output over the sum of its factor cost and its user cost is the profit or, as we shall call it, the income of the ... AND THE MULTIPLIER Book IV: The Inducement to Invest 11. THE MARGINAL EFFICIENCY OF CAPITAL 12. THE STATE OF LONG-TERM EXPECTATION 13. THE GENERAL THEORY OF THE RATE OF INTEREST 14. THE ... MONEY-WAGES o PROFESSOR PIGOU'S &apos ;THEORY OF UNEMPLOYMENT' 20. THE EMPLOYMENT FUNCTION 21. THE THEORY OF PRICES Short Notes Suggested by the General Theory 22. NOTES ON THE TRADE...
Ngày tải lên: 15/12/2013, 21:15
Tài liệu The Illustrated Dictionary of Electronics P2 pdf
... determina- tion of current of large dimension, or of the size of the ampere. ampere-hour Abbreviations: Ah, amp-hr. The quantity of electricity that passes through a cir- cuit in one hour when the rate of ... substance to the surface of another without absorption. An example is adsorption of water to the surface of a dielectric. This term is often con- fused with ABSORPTION because the spellings of the two ... type of radar, the sync delay introduced between trans- mission of the pulse and start of the trace on the indicator screen to eliminate the altitude circle in the display. ALU Abbreviation of...
Ngày tải lên: 25/01/2014, 13:20
Tài liệu The Illustrated Dictionary of Electronics P1 pdf
... energy, on account of the motion of the source and/or the detecting apparatus. 3. A small displacement in the appar- ent positions of the stars from month to month on account of the earth’s orbital ... modifying only the address part of an instruction. address field In a computer, the part of the in- struction that gives the address of a bit of data (or a word) in the memory. address generation The programmed ... electrical action of the cell, as distinguished from the sup- porting material of the plates themselves. 2. A ra- dioactive substance. 3. The phosphor coating of a cathode-ray tube screen. 4. The material...
Ngày tải lên: 25/01/2014, 13:20
Tài liệu THE MATHEMATICAL THEORY OF NON-UNIFORM GASES pptx
... structures of the molecules. These structures are therefore not of immediate concern in the kinetic theory of gases; they determine the exterior fields of force, which form the outworks of the molecule, ... quantum theory of collisions (so far as it affects the theory of the transport phenomena in gases), and on the theory of conduction and diffusion in ionized gases, in the presence of electric ... results of statistical mechanics. 6. The interpretation of kinetic -theory results The methods of the kinetic theory are successful in giving results of practical interest, although the molecular...
Ngày tải lên: 13/02/2014, 23:20
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