Can the consumption-free nonexpected utility model solve the risk premium puzzle? An empirical study of the Japanese stock market

OpenAIRE

Kang, Myong-Il

2010-01-01

This paper investigates whether the consumption-free two-beta intertemporal capital asset-pricing model developed by Campbell and Vuolteenaho (2004) is able to solve the risk premium puzzle in the Japanese stock market over the period 1984-2002. Using the cash flow and discount rate betas as risk factors, the model is able to explain about half of the market returns by selection of suitable vector autoregression variables. On this basis, the model proposed solves the risk premium puzzle in Ja...

The equity premium in finance and valuation textbooks

OpenAIRE

Fernandez, Pablo

2008-01-01

This paper is a review of the recommendations about the equity premium found in the main finance and valuation textbooks. We review several editions of books written by authors such as Brealey and Myers; Copeland, Koller and Murrin (McKinsey); Ross, Westerfield and Jaffe; Bodie, Kane and Marcus; Damodaran; Copeland and Weston; Van Horne; Bodie and Merton; Stowe et al.; Pratt; Penman; Bruner; Weston & Brigham; and Arzac. We highlight the confusing message the textbooks convey regarding the equ...

THE INFLUENCE OF LINE EXTENSION STRATEGIES BY PREMIUM BRANDS ON BRAND EQUITY: CULTURAL DIFFERENCES BETWEEN GERMANY AND THAILAND

Directory of Open Access Journals (Sweden)

Florian Lukas SEIZER

2017-05-01

Full Text Available Premium markets are expected to outperform other markets throughout the near future. Thus these markets are of high importance for marketers, who already face challenges to manage premium brands due to the hazard of a possible dilution of user’s sense of exclusivity and pride. Premium brand managers must know when it is best to take a pass on short-term growth opportunities that could tarnish the brand's long-term health. Line extensions embody one of the most frequently used vehicles for growth to meet global consumer needs. Though they have advantages, also risks are associated with them. Consequently, the purpose of this study is to identify the influence of line extensions on brand equity in culturally different spheres. The study focuses on premium brands from the automotive industry and asks if and in how far different – vertical (different price & quality level and horizontal (same price & quality level – line extension strategies influence brand equity differently among cultures. A one group pre-test post-test research design is used to measure brand equity before and after an existing brand’s (hypothetical extension. A structured online survey with page logic collected primary data from four hundred students in Germany and Thailand recruited by a matched sampling technique. Culture has to be added to brand equity models as results show distinctive changes of brand equity for both Germany and Thailand. While after vertical downscale extensions, brand equity increases in Germany, it decreases in Thailand. Hence, the research results in managerial recommendations which assess if product policy strategies should be thought ‘regionally’ or ‘globally’.

Fator de desconto estocástico no mercado acionário brasileiro

Directory of Open Access Journals (Sweden)

André Borges Catalão

2006-09-01

Full Text Available Este trabalho implementa as fronteiras de variância mínima para o fator de desconto estocástico, conforme Hansen e Jagannathan (1991 e Cochrane e Hansen (1992, no mercado acionário brasileiro. São consideradas duas abordagens em termos dos retornos das ações e dos prêmios das ações: o Equity Premium Puzzle e o Low Interest Rate Puzzle em face destas metodologias. Adicionalmente, aplicamos o teste econométrico de Burnside (1994 nestes casos. Verificamos que a primeira abordagem produz um fator de desconto estocástico inválido no caso brasileiro. Por outro lado, a formulação com base no prêmio, conforme Cochrane e Hansen (1992, não invalida o fator de desconto estocástico. Assim, não identificamos estes dois puzzles no mercado acionário brasileiro. De fato, o chamado "equity premium puzzle" tem que satisfazer estes dois critérios. Neste sentido, este puzzle não se verifica no mercado acionário brasileiro.This article implements the minimum variance frontier for the stochastic discount factor, according to both Hansen and Jagannathan (1991 and Cochrane and Hansen (1992, for the Brazilian stock market. Two approaches are considered in terms of equity returns and equity premium, respectively, the Equity Premium Puzzle and the Low Interest Rate Puzzle. Furthermore, we apply also the econometric test of Burnside (1994 in these approaches. The criteria based on equity return results in an invalid discount factor. On the other hand, the approach using the equity premium, according to Cochrane and Hansen (1992, does not reject the discount factor. Thus, we do not corroborate these two puzzles for the Brazilian equity market. In fact, the equity premium puzzle has to satisfy both criterias above. Thus, in these sense this puzzle does not happen in the Brazilian stock market.

Stare down the barrel and center the crosshairs: Targeting the ex ante equity premium

OpenAIRE

Glen Donaldson; Mark Kamstra; Lisa Kramer

2003-01-01

The equity premium of interest in theoretical models is the extra return investors anticipate when purchasing risky stock instead of risk-free debt. Unfortunately, we do not observe this ex ante premium in the data; we only observe the returns that investors actually receive ex post, after they purchase the stock and hold it over some period of time during which random economic shocks affect prices. Over the past century U.S. stocks have returned roughly 6 percent more than risk-free debt, wh...

Does debt ceiling and government shutdown help in forecasting the us equity risk premium?

Directory of Open Access Journals (Sweden)

Aye Goodness C.

2016-01-01

Full Text Available This article evaluates the predictability of the equity risk premium in the United States by comparing the individual and complementary predictive power of macroeconomic variables and technical indicators using a comprehensive set of 16 economic and 14 technical predictors over a monthly out-ofsample period of 1995:01 to 2012:12 and an in-sample period of 1986:01- 1994:12. In order to do so we consider, in addition to the set of variables used in Christopher J. Neely et al. (2013 and using a more recent dataset, the forecasting ability of two other important variables namely government shutdown and debt ceiling. Our results show that one of the newly added variables namely government shutdown provides statistically significant out-of-sample predictive power over the equity risk premium relative to the historical average. Most of the variables, including government shutdown, also show significant economic gains for a risk averse investor especially during recessions.

Equity of the premium of the Ghanaian National Health Insurance Scheme and the implications for achieving universal coverage.

Science.gov (United States)

Amporfu, Eugenia

2013-01-07

The Ghanaian National Health Insurance Scheme (NHIS) was introduced to provide access to adequate health care regardless of ability to pay. By law the NHIS is mandatory but because the informal sector has to make premium payment before they are enrolled, the authorities are unable to enforce mandatory nature of the scheme. The ultimate goal of the Scheme then is to provide all residents with access to adequate health care at affordable cost. In other words, the Scheme intends to achieve universal coverage. An important factor for the achievement of universal coverage is that revenue collection be equitable. The purpose of this study is to examine the vertical and horizontal equity of the premium collection of the Scheme. The Kakwani index method as well as graphical analysis was used to study the vertical equity. Horizontal inequity was measured through the effect of the premium on redistribution of ability to pay of members. The extent to which the premium could cause catastrophic expenditure was also examined. The results showed that revenue collection was both vertically and horizontally inequitable. The horizontal inequity had a greater effect on redistribution of ability to pay than vertical inequity. The computation of catastrophic expenditure showed that a small minority of the poor were likely to incur catastrophic expenditure from paying the premium a situation that could impede the achievement of universal coverage. The study provides recommendations to improve the inequitable system of premium payment to help achieve universal coverage.

Equity of the premium of the Ghanaian national health insurance scheme and the implications for achieving universal coverage

Directory of Open Access Journals (Sweden)

Amporfu Eugenia

2013-01-01

Full Text Available Abstract The Ghanaian National Health Insurance Scheme (NHIS was introduced to provide access to adequate health care regardless of ability to pay. By law the NHIS is mandatory but because the informal sector has to make premium payment before they are enrolled, the authorities are unable to enforce mandatory nature of the scheme. The ultimate goal of the Scheme then is to provide all residents with access to adequate health care at affordable cost. In other words, the Scheme intends to achieve universal coverage. An important factor for the achievement of universal coverage is that revenue collection be equitable. The purpose of this study is to examine the vertical and horizontal equity of the premium collection of the Scheme. The Kakwani index method as well as graphical analysis was used to study the vertical equity. Horizontal inequity was measured through the effect of the premium on redistribution of ability to pay of members. The extent to which the premium could cause catastrophic expenditure was also examined. The results showed that revenue collection was both vertically and horizontally inequitable. The horizontal inequity had a greater effect on redistribution of ability to pay than vertical inequity. The computation of catastrophic expenditure showed that a small minority of the poor were likely to incur catastrophic expenditure from paying the premium a situation that could impede the achievement of universal coverage. The study provides recommendations to improve the inequitable system of premium payment to help achieve universal coverage.

Properties of Foreign Exchange Risk Premiums

DEFF Research Database (Denmark)

Sarno, Lucio; Schneider, Paul; Wagner, Christian

2012-01-01

We study the properties of foreign exchange risk premiums that can explain the forward bias puzzle, defined as the tendency of high-interest rate currencies to appreciate rather than depreciate. These risk premiums arise endogenously from the no-arbitrage condition relating the term structure of ...... and are closely related to global risk aversion, the business cycle, and traditional exchange rate fundamentals.......We study the properties of foreign exchange risk premiums that can explain the forward bias puzzle, defined as the tendency of high-interest rate currencies to appreciate rather than depreciate. These risk premiums arise endogenously from the no-arbitrage condition relating the term structure...... of interest rates and exchange rates. Estimating affine (multi-currency) term structure models reveals a noticeable tradeoff between matching depreciation rates and accuracy in pricing bonds. Risk premiums implied by our global affine model generate unbiased predictions for currency excess returns...

Habit, Production, and the Cross-Section of Stock Returns

OpenAIRE

Chen, Andrew Y.

2014-01-01

Solutions to the equity premium puzzle should inform us about the cross-section of stock returns. An external habit model with heterogeneous firms reproduces numerous stylized facts about both the equity premium and the value premium. The equity premium is large, time-varying, and linked with consumption volatility. The cross-section of expected returns is log-linear in B/M, and the slope matches the data. The explanation for the value premium lies in the interaction between the cross-section...

Global climate change and the equity-efficiency puzzle

International Nuclear Information System (INIS)

Manne, Alan S.; Stephan, Gunter

2005-01-01

There is a broad consensus that the costs of abatement of global climate change can be reduced efficiently through the assignment of quota rights and through international trade in these rights. There is, however, no consensus on whether the initial assignment of emissions permits can affect the Pareto-optimal global level of abatement. This paper provides some insight into the equity-efficiency puzzle. Qualitative results are obtained from a small-scale model; then quantitative evidence of separability is obtained from MERGE, a multiregion integrated assessment model. It is shown that if all the costs of climate change can be expressed in terms of GDP losses, Pareto-efficient abatement strategies are independent of the initial allocation of emissions rights. This is the case sometimes described as 'market damages'. If, however, different regions assign different values to nonmarket damages such as species losses, different sharing rules may affect the Pareto-optimal level of greenhouse gas abatement. Separability may then be demonstrated only in specific cases (e.g. identical welfare functions or quasi-linearity of preferences or small shares of wealth devoted to abatement)

The Skew Risk Premium in the Equity Index Market

OpenAIRE

Roman Kozhan; Anthony Neuberger; Paul Schneider

2013-01-01

We develop a new method for measuring moment risk premiums. We find that the skew premium accounts for over 40% of the slope in the implied volatility curve in the S&P 500 market. Skew risk is tightly related to variance risk, in the sense that strategies designed to capture the one and hedge out exposure to the other earn an insignificant risk premium. This provides a new testable restriction for asset pricing models trying to capture, in particular, disaster risk premiums. We base our resul...

A functional model for monitoring equity and effectiveness in purchasing health insurance premiums for the poor: evidence from Cambodia and the Lao PDR.

Science.gov (United States)

Annear, Peter Leslie; Bigdeli, Maryam; Jacobs, Bart

2011-10-01

To assess the impact on equity and effectiveness of introducing targeted subsidies for the poor into existing voluntary health insurance schemes in Low Income Countries with special reference to cross-subsidisation. A functional model was constructed using routine collected financial data to analyse changes in financial flows and resulting shifts in cross-subsidization between poor and non-poor. Data were collected from two sites, in Cambodia at Kampot operational health district and in the Lao People's Democratic Republic at Nambak district. Six key variables were identified as determining the financial flows between the subsidy and the insurance schemes and with health providers: population coverage, premium rate, facility contact rate, capitation rate, cost of treatment and changes in administration costs. Negative cross-subsidization was revealed where capitation was used as the payment mechanism and where utilisation rates of the poor were significantly below the non-poor. The same level of access for the poor could have been achieved with a lower Health Equity Fund subsidy if used as a direct reimbursement of user charges by the Health Equity Fund to the provider rather than through the Community Based Health Insurance scheme. Purchasing premiums for the poor under these conditions is more costly than direct reimbursement to the provider for the same level of service delivery. Negative cross-subsidization is a serious risk that must be managed appropriately and the benefits of a larger risk pool (cross-subsidization of the poor) are not evident. Benefits from combined coverage may accrue in the longer term with an expanded base of voluntary payers or when those with subsidized premiums are lifted out of poverty. Copyright © 2011 Elsevier Ireland Ltd. All rights reserved.

Real exchange rate persistence and the excess return puzzle

DEFF Research Database (Denmark)

Juselius, Katarina; Assenmacher, Katrin

2017-01-01

The PPP puzzle refers to the wide swings of nominal exchange rates around their long-run equilibrium values whereas the excess return puzzle represents the persistent deviation of the domestic-foreign interest rate differential from the expected change in the nominal exchange rate. Using the I(2......) cointegrated VAR model, much of the excess return puzzle disappears when an uncertainty premium in the foreign exchange market, proxied by the persistent PPP gap, is introduced. Self-reinforcing feedback mechanisms seem to cause the persistence in the Swiss-US parity conditions. These results support imperfect...

Macroeconomic Perspectives on the Equity Premium Puzzle

NARCIS (Netherlands)

J. Zenhorst (Jorn)

2012-01-01

textabstractSuppose you were born on January 1, 1983. A few months later, your parents, wanting to set aside some money for your 18th birthday, were at a crossroads. They could either invest money in risk-free Dutch government bonds or in the newly created AEX index, investing in companies’

Foreign exchange risk premium determinants: case of Armenia

Czech Academy of Sciences Publication Activity Database

Poghosyan, Tigran; Kočenda, Evžen

-, č. 297 (2006), s. 1-37 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : “forward premium” puzzle * exchange rate risk * time-varying risk premium Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp297.pdf

Margin Requirements and Equity Option Returns

DEFF Research Database (Denmark)

Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant margin premium in the cross-section of equity option returns. The sign of the margin...... premium depends on demand pressure: If end-users are on the long side of the market, option returns decrease with margins, while they increase otherwise. Our results are statistically and economically significant and robust to different margin specifications and various control variables. We explain our...... findings by a model of funding-constrained derivatives dealers that require compensation for satisfying end-users’ option demand....

Margin Requirements and Equity Option Returns

DEFF Research Database (Denmark)

Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant "margin premium" in the cross-section of equity option returns. The sign of the margin...... premium depends on demand pressure: If end-users are on the long side of the market, option returns decrease with margins, while they increase otherwise. Our results are statistically and economically significant and robust to different margin specifications and various control variables. We explain our...... findings by a model of funding-constrained derivatives dealers that require compensation for satisfying end-users’ option demand....

Foreign exchange risk premium determinants: case of Armenia

Czech Academy of Sciences Publication Activity Database

Poghosyan, Tigran; Kočenda, E.

-, č. 811 (2006), s. 1-17 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : “forward premium” puzzle * exchange rate risk * time-varying risk premium Subject RIV: AH - Economics http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp811.pdf

Advertising non-premium products as if they were premium: The impact of advertising up on advertising elasticity and brand equity

NARCIS (Netherlands)

Guitart, I.A. (Ivan A.); Gonzalez, J. (Jorge); S. Stremersch (Stefan)

2018-01-01

textabstractNon-premium brands occasionally emulate their premium counterparts by using ads that emphasize premium characteristics such as superior performance and exclusivity. We define this practice as “advertising up” and develop hypotheses about its short- and long-term impact on advertising

Economic analysis of price premiums in the presence of non-convexities. Evidence from German electricity markets

Energy Technology Data Exchange (ETDEWEB)

Paschmann, Martin

2017-11-15

Analyzing price data from sequential German electricity markets, namely the day-ahead and intraday auction, a puzzling but apparently systematic pattern of price premiums can be identified. The price premiums are highly correlated with the underlying demand profile. As there is evidence that widespread models for electricity forward premiums are not applicable to the market dynamics under analysis, a theoretical model is developed within this article which reveals that non-convexities in only a subset of sequential markets with differing product granularity may cause systematic price premiums at equilibrium. These price premiums may be bidirectional and reflect a value for additional short-term power supply system flexibility.

Economic analysis of price premiums in the presence of non-convexities. Evidence from German electricity markets

International Nuclear Information System (INIS)

Paschmann, Martin

2017-01-01

Analyzing price data from sequential German electricity markets, namely the day-ahead and intraday auction, a puzzling but apparently systematic pattern of price premiums can be identified. The price premiums are highly correlated with the underlying demand profile. As there is evidence that widespread models for electricity forward premiums are not applicable to the market dynamics under analysis, a theoretical model is developed within this article which reveals that non-convexities in only a subset of sequential markets with differing product granularity may cause systematic price premiums at equilibrium. These price premiums may be bidirectional and reflect a value for additional short-term power supply system flexibility.

Cumulative Prospect Theory, Option Returns, and the Variance Premium

NARCIS (Netherlands)

Baele, Lieven; Driessen, Joost; Ebert, Sebastian; Londono Yarce, J.M.; Spalt, Oliver

The variance premium and the pricing of out-of-the-money (OTM) equity index options are major challenges to standard asset pricing models. We develop a tractable equilibrium model with Cumulative Prospect Theory (CPT) preferences that can overcome both challenges. The key insight is that the

Pricing Equity-Indexed Annuities under Stochastic Interest Rates Using Copulas

Directory of Open Access Journals (Sweden)

Patrice Gaillardetz

2010-01-01

Full Text Available We develop a consistent evaluation approach for equity-linked insurance products under stochastic interest rates. This pricing approach requires that the premium information of standard insurance products is given exogenously. In order to evaluate equity-linked products, we derive three martingale probability measures that reproduce the information from standard insurance products, interest rates, and equity index. These risk adjusted martingale probability measures are determined using copula theory and evolve with the stochastic interest rate process. A detailed numerical analysis is performed for existing equity-indexed annuities in the North American market.

Determinants of Beef and Pork Brand Equity

OpenAIRE

Parcell, Joseph L.; Schroeder, Ted C.

2003-01-01

A set of consumer-level characteristic demand models were estimated to determine the level of brand equity for pork and beef meat cuts. Results indicate that brand premiums and discounts vary by private, national, and store brands; and brand equity varies across meat cuts carrying the same brand name. Other results are that product size discounts are linear, meat items on sale are significantly discounted to non-sale items, specialty stores typically do not garner higher prices than supermark...

The Cross-Section of Credit Risk Premia and Equity Returns

DEFF Research Database (Denmark)

Friewald, Nils; Wagner, Christian; Zechner, Josef

Structural models a la Merton (1974) imply that rms' risk premia in equity and credit markets are related. We explore this relation, using the joint crosssection of stock returns and risk premia estimated from forward credit default swap (CDS) spreads. Consistent with structural models, we nd...... that rms' equity returns and Sharpe ratios increase with estimated credit risk premia and that the returns of buying high and selling low credit risk premium rms cannot be explained by traditional risk factors. Credit risk premia contain equity-relevant information neither captured by risk-neutral nor...

76 FR 45303 - ING Asia Pacific High Dividend Equity Income Fund, et al.; Notice of Application

Science.gov (United States)

2011-07-28

... Premium Opportunity Fund (``IGA''); ING Global Equity Dividend and Premium Opportunity Fund (``IGD''); ING... Exchange. PRT has also issued preferred shares. Each Current Fund reserves the right to issue preferred... market price and its net asset value per common share (``NAV'')) and the relationship between such Fund's...

Illiquidity Premia in the Equity Options Market

DEFF Research Database (Denmark)

Christoffersen, Peter; Goyenko, Ruslan; Jacobs, Kris

, including standard measures of illiquidity of the underlying stock, determinants of spreads, and a measure of net demand pressure. The positive illiquidity premium we find is consistent with existing evidence that market makers in the equity options market hold net long positions.......Illiquidity is well-known to be a significant determinant of stock and bond returns. We are the first to estimate illiquidity premia in equity option markets using effective spreads for a large cross-section of firms. The risk-adjusted return spread for illiquid over liquid options is 23 bps per...

Ambiguity aversion and household portfolio choice puzzles: Empirical evidence*

Science.gov (United States)

Dimmock, Stephen G.; Kouwenberg, Roy; Mitchell, Olivia S.; Peijnenburg, Kim

2017-01-01

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences using custom-designed questions based on Ellsberg urns. As theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial assets in stocks, and foreign stock ownership, but it is positively related to own-company stock ownership. Conditional on stock ownership, ambiguity aversion is related to portfolio under-diversification, and during the financial crisis, ambiguity-averse respondents were more likely to sell stocks. PMID:28458446

Ambiguity aversion and household portfolio choice puzzles: Empirical evidence.

Science.gov (United States)

Dimmock, Stephen G; Kouwenberg, Roy; Mitchell, Olivia S; Peijnenburg, Kim

2016-03-01

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences using custom-designed questions based on Ellsberg urns. As theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial assets in stocks, and foreign stock ownership, but it is positively related to own-company stock ownership. Conditional on stock ownership, ambiguity aversion is related to portfolio under-diversification, and during the financial crisis, ambiguity-averse respondents were more likely to sell stocks.

Cross-sectional consumption-based asset pricing: The importance of consumption timing and the inclusion of severe crises

DEFF Research Database (Denmark)

Engsted, Tom; Møller, Stig Vinther

By using a beginning-of-period timing convention for consumption, and by including the Great Depression years in the analysis, we show that on annual data from 1926 to 2009 a standard contemporaneous consumption risk model goes a long way in explaining the size and value premiums in cross......-sectional data that include both the Fama-French portfolios and industry portfolios. A long run consumption risk variant of the model also produces a high cross-sectional …t. In addition, the equity premium puzzle is signi…cantly reduced in the models. We argue that in evaluating consumption based models...

14 CFR 198.13 - Premium insurance-payment of premiums.

Science.gov (United States)

2010-01-01

... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Premium insurance-payment of premiums. 198... (CONTINUED) WAR RISK INSURANCE AVIATION INSURANCE § 198.13 Premium insurance—payment of premiums. The insured must pay the premium for insurance issued under this part within the stated period after receipt of...

Decision Support for Retirement Portfolio Management: Overcoming Myopic Loss Aversion via Technology Design

OpenAIRE

Clayton Arlen Looney; Andrew M. Hardin

2009-01-01

As firms continue to abandon pensions in favor of employee-managed retirement plans, tremendous demands are being placed on the decision-making proficiency of future retirees. As reflected in the equity premium puzzle, individual investors tend to hold overly conservative portfolios that provide meager payoffs over time. Consequently, there is growing concern that the vast majority of retirement accounts might be insufficiently funded when employees reach retirement. Given that most retiremen...

Puzzling Mechanisms

Science.gov (United States)

van Deventer, M. Oskar

2009-01-01

The basis of a good mechanical puzzle is often a puzzling mechanism. This article will introduce some new puzzling mechanisms, like two knots that engage like gears, a chain whose links can be interchanged, and flat gears that do not come apart. It illustrates how puzzling mechanisms can be transformed into real mechanical puzzles, e.g., by…

Reexamining financial and economic predictability with new estimators of realized variance and variance risk premium

DEFF Research Database (Denmark)

Casas, Isabel; Mao, Xiuping; Veiga, Helena

This study explores the predictive power of new estimators of the equity variance risk premium and conditional variance for future excess stock market returns, economic activity, and financial instability, both during and after the last global financial crisis. These estimators are obtained from...... time-varying coefficient models are the ones showing considerably higher predictive power for stock market returns and financial instability during the financial crisis, suggesting that an extreme volatility period requires models that can adapt quickly to turmoil........ Moreover, a comparison of the overall results reveals that the conditional variance gains predictive power during the global financial crisis period. Furthermore, both the variance risk premium and conditional variance are determined to be predictors of future financial instability, whereas conditional...

An exploratory analysis of cigarette price premium, market share and consumer loyalty in relation to continued consumption versus cessation in a national US panel

Science.gov (United States)

Lewis, Michael; Wang, Yanwen; Cahn, Zachary; Berg, Carla J

2015-01-01

Introduction Brand equity and consumer loyalty play a role in continued purchasing behaviour; however, this research has largely focused on non-addictive products without counter-marketing tactics. We examined the impact of brand equity (price premium, market share) and consumer loyalty (switching rates) on smoking cessation (discontinued cigarette purchases for 1 year) among smokers in a consumer panel. Methods In Spring 2015, we analysed 1077 cigarette-purchasing households in the Nielsen Homescan Panel. We analysed cessation in relation to brand equity, consumer loyalty, other purchasing behaviours (nicotine intake, frequency), sociodemographics and tobacco control activities (per state-specific data) over a 6-year period (2004–2009) using Cox proportional hazard modelling. Results The sample was 13.28% African-American; the average income was $52 334 (SD=31 445). The average price premium and market share of smokers’ dominant brands were $1.31 (SD=0.49) and 15.41% (SD=19.15), respectively. The mean brand loyalty level was 0.90 (SD=0.17), indicating high loyalty. In our final model, a higher price premium and market share were associated with lower quit rates (p=0.039); however, an interaction effect suggested that greater market share was not associated with lower cessation rates for African-American smokers (p=0.006). Consumer loyalty was not associated with cessation. Other predictors of lower quit rates included a higher nicotine intake (p=0.006) and baseline purchase frequency (pconsumer relationships. Thus, continued efforts should aim to regulate tobacco marketing efforts in order to disrupt these relationships to promote cessation. PMID:26534732

Do Puzzle Pieces and Autism Puzzle Piece Logos Evoke Negative Associations?

Science.gov (United States)

Gernsbacher, Morton Ann; Raimond, Adam R.; Stevenson, Jennifer L.; Boston, Jilana S.; Harp, Bev

2018-01-01

Puzzle pieces have become ubiquitous symbols for autism. However, puzzle-piece imagery stirs debate between those who support and those who object to its use because they believe puzzle-piece imagery evokes negative associations. Our study empirically investigated whether puzzle pieces evoke negative associations in the general public.…

Decreasing Relative Risk Premium

DEFF Research Database (Denmark)

Hansen, Frank

relative risk premium in the small implies decreasing relative risk premium in the large, and decreasing relative risk premium everywhere implies risk aversion. We finally show that preferences with decreasing relative risk premium may be equivalently expressed in terms of certain preferences on risky......We consider the risk premium demanded by a decision maker with wealth x in order to be indifferent between obtaining a new level of wealth y1 with certainty, or to participate in a lottery which either results in unchanged present wealth or a level of wealth y2 > y1. We define the relative risk...... premium as the quotient between the risk premium and the increase in wealth y1–x which the decision maker puts on the line by choosing the lottery in place of receiving y1 with certainty. We study preferences such that the relative risk premium is a decreasing function of present wealth, and we determine...

Downside Variance Risk Premium

OpenAIRE

Feunou, Bruno; Jahan-Parvar, Mohammad; Okou, Cedric

2015-01-01

We propose a new decomposition of the variance risk premium in terms of upside and downside variance risk premia. The difference between upside and downside variance risk premia is a measure of skewness risk premium. We establish that the downside variance risk premium is the main component of the variance risk premium, and that the skewness risk premium is a priced factor with significant prediction power for aggregate excess returns. Our empirical investigation highlights the positive and s...

Costs, equity, efficiency and feasibility of identifying the poor in Ghana's National Health Insurance Scheme: empirical analysis of various strategies.

NARCIS (Netherlands)

Aryeetey, G.C.N.O.; Jehu-Appiah, C.; Spaan, E.; Agyepong, I.; Baltussen, R.M.

2012-01-01

Objectives To analyse the costs and evaluate the equity, efficiency and feasibility of four strategies to identify poor households for premium exemptions in Ghana's National Health Insurance Scheme (NHIS): means testing (MT), proxy means testing (PMT), participatory wealth ranking (PWR) and

Value Effect in Indonesian Stock Returns: The Implications for the Equity Mutual Fund Industry

Directory of Open Access Journals (Sweden)

Samuel Kristianto Utomo

2015-04-01

Full Text Available We extend the persistence and pervasiveness of the presence of value effect to Indonesian stock returns in the last two decades by utilizing data set that is relatively free of survivor bias and selection bias. Our finding shows that value portfolios have been able to outperform growth portfolios. Furthermore, the presence of the effect as an asset pricing factor, along with the size effect, can significantly explain the returns of the aggregate equity mutual funds in Indonesia and unveil that the equity mutual fund industry does not provide sufficient risk-adjusted return to cover trading costs and fund expenses. Our proposition is that the equity mutual fund valuation will be better off to apply simpler model shown in this paper to capture the value premium as opposed to the general application of traditional valuation method.

Predictability of Equity REIT Returns: Implications for Property Tactical Asset Allocation

OpenAIRE

John Okunev; Patrick J. Wilson

2008-01-01

This study presents further evidence of the predictability of excess equity REIT (real estate investment trust) returns. Recent evidence on forecasting excess returns using fundamental variables has resulted in diminishing returns from the 1990’s onward. Trading strategies based on these forecasts have not significantly outperformed the buy/hold strategy of the 1990’s. We have developed an alternative strategy that is based on the time variation of the risk premium of investors. Our results i...

24 CFR 232.805 - Insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 232.805 Section... FACILITIES Contract Rights and Obligations Premiums § 232.805 Insurance premiums. (a) First premium. The... insurance premium equal to one percent of the original face amount of the note. (b) Second premium. The...

24 CFR 241.805 - Insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 241.805 Section... Without a HUD-Insured or HUD-Held Mortgage Premiums § 241.805 Insurance premiums. (a) First premium. The... insurance premium equal to one percent of the original face amount of the note. (b) Second premium. The...

Premium Auctions and Risk Preferences

NARCIS (Netherlands)

Hu, A.; Offerman, T.J.S.; Zou, L.

2010-01-01

In a premium auction, the seller offers some "pay back", called premium, to the highest bidders. This paper investigates how the performance of such premium tactic is related to the participant's risk preferences. By developing an English premium auction model with symmetric interdependent values,

An exploratory analysis of cigarette price premium, market share and consumer loyalty in relation to continued consumption versus cessation in a national US panel.

Science.gov (United States)

Lewis, Michael; Wang, Yanwen; Cahn, Zachary; Berg, Carla J

2015-11-03

Brand equity and consumer loyalty play a role in continued purchasing behaviour; however, this research has largely focused on non-addictive products without counter-marketing tactics. We examined the impact of brand equity (price premium, market share) and consumer loyalty (switching rates) on smoking cessation (discontinued cigarette purchases for 1 year) among smokers in a consumer panel. In Spring 2015, we analysed 1077 cigarette-purchasing households in the Nielsen Homescan Panel. We analysed cessation in relation to brand equity, consumer loyalty, other purchasing behaviours (nicotine intake, frequency), sociodemographics and tobacco control activities (per state-specific data) over a 6-year period (2004-2009) using Cox proportional hazard modelling. The sample was 13.28% African-American; the average income was $52,334 (SD=31,445). The average price premium and market share of smokers' dominant brands were $1.31 (SD=0.49) and 15.41% (SD=19.15), respectively. The mean brand loyalty level was 0.90 (SD=0.17), indicating high loyalty. In our final model, a higher price premium and market share were associated with lower quit rates (p=0.039); however, an interaction effect suggested that greater market share was not associated with lower cessation rates for African-American smokers (p=0.006). Consumer loyalty was not associated with cessation. Other predictors of lower quit rates included a higher nicotine intake (p=0.006) and baseline purchase frequency (pconsumer relationships. Thus, continued efforts should aim to regulate tobacco marketing efforts in order to disrupt these relationships to promote cessation. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

Variable-Rate Premiums

Data.gov (United States)

Pension Benefit Guaranty Corporation — These interest rates are used to value vested benefits for variable rate premium purposes as described in PBGC's regulation on Premium Rates (29 CFR Part 4006) and...

New Sliding Puzzle with Neighbors Swap Motion

OpenAIRE

Prihardono, Ariyanto; Kawagoe, Kenichi

2015-01-01

The sliding puzzles (15-puzzle, 8-puzzle, 5-puzzle) are known to have 2 kind of puz-zle: solvable puzzle and unsolvable puzzle. In this thesis, we make a new puzzle with only 1 kind of it, solvable puzzle. This new puzzle is made by adopting sliding puzzle with several additional rules from M13 puzzle; the puzzle that is formed form The Mathieu group M13. This puzzle has a movement that called a neighbors swap motion, a rule of movement that enables every neighboring points to swap. This extr...

42 CFR 403.254 - Calculation of premiums.

Science.gov (United States)

2010-10-01

... rate credits. (4) Unearned premium reserve means the portion of gross premiums due that provide for...) Written premiums for the period; plus— (ii) The total premium reserve at the beginning of the period; less— (iii) The total premium reserve at the end of the period. (2) Written premiums in a period means— (i...

Chasing the deal with the money: Measuring the required risk premium and expected abnormal returns of private equity funds to maximize their internal rate of return

Directory of Open Access Journals (Sweden)

Fernando Scarpati

2013-09-01

Full Text Available A number of scholars of private equity (“PE” have attempted to assess the ex-post returns, or performance, of PEs by adopting an ex-post perspective of asset pricing. In doing so a set of phenomena has been recognized that is thought to be specific to the PE sector, such as “money-chasing deal phenomenon” (Gompers and Lerner, 2000 and “performance persistence” (Lerner and Schoar, 2005. However, based on their continuing use of an ex-post perspective, few scholars have paid attention to the possible extent to which these and other PE phenomena may affect expected returns from PE investments. To address this problem this article draws on an ex-ante perspective of investment decision-making in suggesting how a number of drivers and factors of PE phenomena may produce “abnormal returns”, and that each of those drivers and factors should therefore be considered in accurately assessing the required risk premium and expected abnormal returns of PE investments. In making these contributions we examined a private equity investment of a regional PE in Italy and administered a telephone questionnaire to 40 PEs in Italy and the UK and found principally that while size is the most important driver in producing abnormal returns illiquidity alone cannot explain the expected returns of PE investments (cf. Franzoni et al., 2012. Based on our findings we developed a predictive model of PE decision-making that draws on an ex-ante perspective of asset pricing and takes into account PE phenomena and abnormal returns. This model extends the work of Franzoni et al. (2012, Jegadeesh et al. (2009, and Korteweg and Sorensen (2010 who did not consider the possible influence of PE phenomena in decision-making and will also help PE managers in making better-informed decisions.

Cross-sectional returns with volatility regimes from a diverse portfolio of emerging and developed equity indices

Directory of Open Access Journals (Sweden)

Paweł Sakowski

2016-10-01

Full Text Available This article aims to extend evaluation of the classic multifactor model of Carhart (1997 for the case of global equity indices and to expand analysis performed in Sakowski et. al. (2015. Our intention is to test several modifications of these models to take into account different dynamics of equity excess returns between emerging and developed equity indices. Proposed extensions include a volatility regime switching mechanism (using dummy variables and the Markov approach and the fifth risk factor based on realized volatility of index returns. Moreover, instead of using data for stocks of a particular market (which is a common approach in the literature, we check performance of these models for weekly data of 81 world investable equity indices in the period of 2000-2015. Such an approach is proposed to estimate an equity risk premium for a single country. Empirical evidence reveals important differences between results for classical models estimated on single stocks (either in international or US-only frameworks and models evaluated for equity indices. Additionally, we observe substantial discrepancies between results for developed countries and emerging markets. Finally, using weekly data for the last 15 years we illustrate the importance of model risk and data overfitting effects when drawing conclusions upon results of multifactor models.

28 CFR 345.52 - Premium pay.

Science.gov (United States)

2010-07-01

... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Premium pay. 345.52 Section 345.52... (FPI) INMATE WORK PROGRAMS Inmate Pay and Benefits § 345.52 Premium pay. Payment of premium pay to... inmates at a location. (a) Eligibility. Inmates in first grade pay status may be considered for premium...

34 CFR 682.505 - Insurance premium.

Science.gov (United States)

2010-07-01

... 34 Education 3 2010-07-01 2010-07-01 false Insurance premium. 682.505 Section 682.505 Education... § 682.505 Insurance premium. (a) General. The Secretary charges the lender an insurance premium for each Federal GSL Program loan that is guaranteed, except that no insurance premium is charged on a Federal...

RISK PREMIUM IN MOTOR VEHICLE INSURANCE

Directory of Open Access Journals (Sweden)

BANU ÖZGÜREL

2013-06-01

Full Text Available The pure premium or risk premium is the premium that would exactly meet the expected cost of the risk covered ignoring management expenses, commissions, contingency loading, etc. Claim frequency rate and mean claim size are required for estimation in calculating risk premiums. In this study, we discussed to estimate claim frequency rate and mean claim size with several methods and calculated risk premiums. Data, which supported our study, is provided by insurance company involving with motor vehicle insurance.

Specifics of the Unearned Premium Reserve in the Accounting of Commercial Insurance Companies

Directory of Open Access Journals (Sweden)

Jana Gláserová

2014-01-01

Full Text Available Commercial insurance companies are liable to create, on the basis of risks arising from the fulfillment of the object of their activity, technical reserves, which are used to cover liabilities arising to insurance companies from insurance and reinsurance activity. The paper focuses on the technical reserve which is, in accordance with the accounting-legal regulation, created obligatorily in commercial insurance companies – it is the unearned premium reserve.The paper explores the role and place of this technical reserve in the accounting of the commercial insurance companies based on the analysis of its substance, i.e. the objective definition. The paper is based on the methodology of the accounting, evaluation and methods of determining the amount of the technical reserve which will affect the income from operations as well as income tax base of commercial insurance companies. The paper also studied the method of reporting of unearned premium reserve in accounting according to Czech accounting legislation in comparison with International Accounting Standards (IAS/IFRS. The aim of this paper is to determine the impacts of the creation and application of the unearned premium reserve on some important items of the financial statements, which are mainly the income of operations, equity capital and balance sheet as well as to identify the impacts of different reporting of this reserve according to Czech accounting legislation and in accordance with IAS/IFRS. Performing the analysis of the accounting-legal regulation of the unearned premium reserve in the insurance companies, the analysis of the method of accounting of this reserve and also the comparison of reporting of this reserve according to both mentioned regulations is a prerequisite for the fulfillment of the aim.

Solving a binary puzzle

NARCIS (Netherlands)

Utomo, P.H.; Makarim, R.H.

2017-01-01

A Binary puzzle is a Sudoku-like puzzle with values in each cell taken from the set {0,1} {0,1}. Let n≥4 be an even integer, a solved binary puzzle is an n×n binary array that satisfies the following conditions: (1) no three consecutive ones and no three consecutive zeros in each row and each

The Cross-Section of Credit Risk Premia and Equity Returns

DEFF Research Database (Denmark)

Friewald, Niels; Wagner, Christian; Zechner, Josef

We explore the link between a firm's stock returns and its credit risk using a simple insight from structural models following Merton (1974): risk premia on equity and credit instruments are related because all claims on assets must earn the same compensation per unit of risk. Consistent...... with theory, we find that firms' stock returns increase with credit risk premia estimated from CDS spreads. Credit risk premia contain information not captured by physical or by risk-neutral default probabilities alone. This sheds new light on the "distress puzzle", i.e. the lack of a positive relation...

5 CFR 890.1208 - Premiums.

Science.gov (United States)

2010-01-01

... 599C(e) of Public Law 101-513. (b) If the individual is not covered under this subpart for the full pay period, premiums are paid only for the days he or she is actually covered. The daily premium rate is an amount equal to the monthly premium rate multiplied by 12 and divided by 365. (c) The payments required...

Premium indexing in lifelong health insurance

NARCIS (Netherlands)

Vercruysse, W.; Dhaene, J.; Denuit, M.; Pitacco, E.; Antonio, K.

2013-01-01

For lifelong health insurance covers, medical inflation not incorporated in the level premiums determined at policy issue requires an appropriate increase of these premiums and/or the corresponding reserves during the term of the contract. In this paper, we investigate appropriate premium indexing

Premiums And Reserves, Adjusted By Distortions

OpenAIRE

Pichler, Alois

2013-01-01

The net-premium principle is considered to be the most genuine and fair premium principle in actuarial applications. However, an insurance company, applying the net-premium principle, goes bankrupt with probability one in the long run, even if the company covers its entire costs by collecting the respective fees from its customers. It is therefore an intrinsic necessity for the insurance industry to apply premium principles, which guarantee at least further existence of the company itself; ot...

Tort law and medical malpractice insurance premiums.

Science.gov (United States)

Kilgore, Meredith L; Morrisey, Michael A; Nelson, Leonard J

2006-01-01

This paper estimated the effects of tort law and insurer investment returns on physician malpractice insurance premiums. Data were collected on tort law from 1991 through 2004, and multivariate regression models, including fixed effects for state and year, were used to estimate the effect of changes in tort law on medical malpractice premiums. The premium consequences of national policy changes were simulated. The analysis found that the introduction of a new damage cap lowered malpractice premiums for internal medicine, general surgery, and obstetrics/gynecology by 17.3%, 20.7%, and 25.5%, respectively. Lowering damage caps by dollar 100,000 reduced premiums by 4%. Statutes of repose also resulted in lower premiums. No other tort law changes had the effect of lowering premiums. Simulation results indicate that a national cap of dollar 250,000 on awards for noneconomic damages in all states would imply premium savings of dollar 16.9 billion. Extending a dollar 250,000 cap to all states that do not currently have them would save dollar 1.4 billion annually, or about 8% of the total. A negative effect on malpractice premiums was found for the Dow Jones industrial average, but not for bond prices; effects of the Nasdaq index were not significant for internal medicine, but were marginally significant for surgery and obstetrics premiums.

Idea Puzzle

OpenAIRE

Parente, C.; Ferro, L.

2016-01-01

WOS:000387124100017 (Nº de Acesso Web of Science) The Idea Puzzle is a software application created in 2007. It is a support tool to assist PhD students and researchers in the process of designing research projects through a focus on three central dimensions of research that are collectively represented by a triangle. Each side of the Idea Puzzle triangle corresponds to one of the three dimensions that every empirical research project should ideally include: ontology (data), epistemology (...

NEGATIVE CURRENCY-RISK-EXPOSURE FOR TURKISH EQUITIES

Directory of Open Access Journals (Sweden)

Salvatore J. Terregrossa

2016-04-01

Full Text Available Currency-risk-exposure is an issue for Turkish equities, from two different angles: internationaltrade and foreign-portfolio-investment. The likely effect is positive for the former, and negative for the latter aspect. Consequently, the overall or net effect on equity value depends on which of these aspects of currency-risk-exposure has the greater impact. The present empirical analysis estimates currency risk of Turkish equities within a multi-factor regression setting, utilizing the framework of the Security Market Plane (SMP model. The SMP model embodies a conditional relation among three variables: beta, realized excess market-return, and expected excess portfolio-return. The SMP empirical framework is extended to include a currency-risk-factor in the present analysis. The currency-risk-factor is specified as the excess return to holding foreign currency (€; $, relative to holding domestic currency (Turkish Lira. The SMP-related factor is the cross-product term of beta and realized excess market-return (β it rMt . A regression of realized excess portfolio-returns against the corresponding currency-risk-factor and cross product-term (β it rMt finds that the Turkish stocks represented in the analysis generally have overall negative currency-risk-exposure; suggesting that unexpected currency depreciation generally leads to lower values for Turkish stocks (and portfolios of Turkish stocks. Thus, after accounting for the SMP-related interaction-effect between beta and realized excess marketreturn, currency risk is found to command a premium for the Turkish stocks represented in the analysis.

5 CFR 892.303 - Can I pay my premiums directly by check under the premium conversion plan?

Science.gov (United States)

2010-01-01

... under the premium conversion plan? 892.303 Section 892.303 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Contributions and Withholdings § 892.303 Can I pay my premiums directly...

24 CFR 220.804 - Insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premiums. 220.804 Section... and Obligations-Projects Insured Project Improvement Loans § 220.804 Insurance premiums. (a) First premium. The lender, upon the initial endorsement of the loan for insurance, shall pay to the Commissioner...

42 CFR 60.14 - The insurance premium.

Science.gov (United States)

2010-10-01

... 42 Public Health 1 2010-10-01 2010-10-01 false The insurance premium. 60.14 Section 60.14 Public... LOAN PROGRAM The Loan § 60.14 The insurance premium. (a) General. (1) The Secretary insures each lender... lender an insurance premium. The insurance premium is due to the Secretary on the date of disbursement of...

Reinforcement Learning and Savings Behavior.

Science.gov (United States)

Choi, James J; Laibson, David; Madrian, Brigitte C; Metrick, Andrew

2009-12-01

We show that individual investors over-extrapolate from their personal experience when making savings decisions. Investors who experience particularly rewarding outcomes from saving in their 401(k)-a high average and/or low variance return-increase their 401(k) savings rate more than investors who have less rewarding experiences with saving. This finding is not driven by aggregate time-series shocks, income effects, rational learning about investing skill, investor fixed effects, or time-varying investor-level heterogeneity that is correlated with portfolio allocations to stock, bond, and cash asset classes. We discuss implications for the equity premium puzzle and interventions aimed at improving household financial outcomes.

Reinforcement Learning and Savings Behavior*

Science.gov (United States)

Choi, James J.; Laibson, David; Madrian, Brigitte C.; Metrick, Andrew

2009-01-01

We show that individual investors over-extrapolate from their personal experience when making savings decisions. Investors who experience particularly rewarding outcomes from saving in their 401(k)—a high average and/or low variance return—increase their 401(k) savings rate more than investors who have less rewarding experiences with saving. This finding is not driven by aggregate time-series shocks, income effects, rational learning about investing skill, investor fixed effects, or time-varying investor-level heterogeneity that is correlated with portfolio allocations to stock, bond, and cash asset classes. We discuss implications for the equity premium puzzle and interventions aimed at improving household financial outcomes. PMID:20352013

42 CFR 423.780 - Premium subsidy.

Science.gov (United States)

2010-10-01

...) MEDICARE PROGRAM VOLUNTARY MEDICARE PRESCRIPTION DRUG BENEFIT Premiums and Cost-Sharing Subsidies for Low... 42 Public Health 3 2010-10-01 2010-10-01 false Premium subsidy. 423.780 Section 423.780 Public...-service plans or 1876 cost plans) in a PDP region in the reference month. (ii) Premium amounts. The...

24 CFR 203.443 - Insurance premium.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Insurance premium. 203.443 Section... premium. All of the provisions of §§ 203.260 through 203.269 1 concerning mortgage insurance premiums... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES SINGLE...

PREMIUMS CALCULATION FOR LIFE INSURANCE

Directory of Open Access Journals (Sweden)

ANA PREDA

2012-10-01

Full Text Available The paper presents the techniques and the formulas used on international practice for establishing the premiums for a life policy. The formulas are generally based on a series of indicators named mortality indicators which mainly point out the insured survival probability, the death probability and life expectancy at certain age. I determined, using a case study, the unique net premium, the annual net premium for a survival insurance, whole life insurance and mixed life insurance.

The Dutch premium principle

NARCIS (Netherlands)

van Heerwaarden, A.E.; Kaas, R.

1992-01-01

A premium principle is derived, in which the loading for a risk is the reinsurance loading for an excess-of-loss cover. It is shown that the principle is well-behaved in the sense that it results in larger premiums for risks that are larger in stop-loss order or in stochastic dominance.

Employer contribution and premium growth in health insurance.

Science.gov (United States)

Liu, Yiyan; Jin, Ginger Zhe

2015-01-01

We study whether employer premium contribution schemes could impact the pricing behavior of health plans and contribute to rising premiums. Using 1991-2011 data before and after a 1999 premium subsidy policy change in the Federal Employees Health Benefits Program (FEHBP), we find that the employer premium contribution scheme has a differential impact on health plan pricing based on two market incentives: 1) consumers are less price sensitive when they only need to pay part of the premium increase, and 2) each health plan has an incentive to increase the employer's premium contribution to that plan. Both incentives are found to contribute to premium growth. Counterfactual simulation shows that average premium would have been 10% less than observed and the federal government would have saved 15% per year on its premium contribution had the subsidy policy change not occurred in the FEHBP. We discuss the potential of similar incentives in other government-subsidized insurance systems such as the Medicare Part D and the Health Insurance Marketplace under the Affordable Care Act. Copyright © 2014 Elsevier B.V. All rights reserved.

78 FR 666 - Treasury Inflation-Protected Securities Issued at a Premium; Bond Premium Carryforward

Science.gov (United States)

2013-01-04

...-BL29 Treasury Inflation-Protected Securities Issued at a Premium; Bond Premium Carryforward AGENCY... contains final regulations that provide guidance on the tax treatment of Treasury Inflation-Protected... regulations in this document provide guidance to holders of Treasury Inflation-Protected Securities and other...

Signaling and the Education Premium

OpenAIRE

Gregory Kurtzon

2004-01-01

A large portion of the rise in the education premium can be explained by a signaling theory of education which predicts that in the future, increases in the education level of the workforce will actually cause the education premium to rise, simply because different workers are being labeled as “highly educated†. This prediction is supported by past behavior of the high school education premium. It runs counter to the view that increases in the relative supply of high education workers wil...

Comparison of Seafood and Agricultural Ecological Premiums1

OpenAIRE

Ankamah-Yeboah, Isaac; Nielsen, Max; Nielsen, Rasmus

2017-01-01

The report compares ecolabeled seafood premiums observed in the market with consumers’ stated willingness to pay premiums. Also ecolabeled premiums in the agricultural sector were examined. The next issue addressed was the sensitivity of changes in the price and premiums of ecolabeled seafood. Empirical findings showed that all things being equal, consumers stated willingness to pay reflects in their actual market behavior though they may pay less than stated. Premiums observed in the aquacul...

Employer Contribution and Premium Growth in Health Insurance

OpenAIRE

Yiyan Liu; Ginger Zhe Jin

2013-01-01

We study whether employer premium contribution schemes could impact the pricing behavior of health plans and contribute to rising premiums. Using 1991-2011 data before and after a 1999 premium subsidy policy change in the Federal Employees Health Benefits Program (FEHBP), we find that the employer premium contribution scheme has a differential impact on health plan pricing based on two market incentives: 1) consumers are less price sensitive when they only need to pay part of the premium incr...

Quantitative concept tests of organic premium meat products

OpenAIRE

Chrysochou , Polymeros; Krystallis Krontalis, Athanasios

2015-01-01

This report is part of WP6 of the SUMMER project. The aim is to investigate how consumers perceive organic premium products and if they are willing to pay a price premium for these products. We conducted an experiment with 426 Danish consumers, in which we manipulate production method (organic vs. conventional), premium production (premium vs. non-premium) and extrinsic quality (high vs. low) across three meat products (pork, beef and chicken). Our findings show that consumers perceive organi...

The urban density premium across establishments

OpenAIRE

R. Jason Faberman; Matthew Freedman

2013-01-01

We use longitudinal microdata to estimate the urban density premium for U.S. establishments, controlling for observed establishment characteristics and dynamic establishment behavior. Consistent with previous studies, we estimate a density premium between 6 and 10 percent, even after controlling for establishment composition, local skill mix, and the endogeneity of location choice. More importantly, we find that the estimated density premium is realized almost entirely at birth and is constan...

The PPP Puzzle

DEFF Research Database (Denmark)

Juselius, Katarina

The persistent movements away from long-run benchmark values in real exchange rates, dubbed the PPP puzzle, observed in many real exchange rates during periods of currency float have been subject to much empirical research without resolving the puzzle. The paper demonstrates how the cointegrated...... VAR approach by grouping together components of similar persistence can be used to uncover structures in the data that ultimately may help to explain theoretically the forces underlying such puzzling movements. The charaterization of the data into components which are empirically I(0), I(1), and I(2......) is shown to be a powerful organizing principle allowing us to structure the data in long-run, medium-run, and short-run behavior. Its main advantage is the ability to associate persistent movements away from fundamental benchmark values in one variable/relation with similar persistent movements somewhere...

Curb Your Premium

DEFF Research Database (Denmark)

Amaral-Garcia, Sofia; Grembi, Veronica

2014-01-01

institutional setting. In particular, we implement a difference-in-differences strategy using Italian data at the provider level from 2001 to 2008 to evaluate the impact of monitoring claims on medical liability expenditures, measured as insurance premiums and legal expenditures, which was adopted by only some...... Regions. Our results show that this information-enhancing policy reduces paid premiums by around 15%. This reduced-form effect might arise by higher bargaining power on the demand side or increased competition on the supply side of the insurance market. Validity tests show that our findings are not driven...

24 CFR 241.1030 - Mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 241... Loans-Eligibility Requirements § 241.1030 Mortgage insurance premiums. The lender, upon endorsement of the note, shall pay the Commissioner a first mortgage insurance premium equal to 0.5 percent of the...

Universal financial protection through National Health Insurance: a stakeholder analysis of the proposed one-time premium payment policy in Ghana.

Science.gov (United States)

Abiiro, Gilbert Abotisem; McIntyre, Di

2013-05-01

Extending coverage to the informal sector is a key challenge to achieving universal coverage through contributory health insurance schemes. Ghana introduced a mandatory National Health Insurance system in 2004 to provide financial protection for both the formal and informal sectors through a combination of taxes and annual premium payments. As part of its election promise in 2008, the current government (then in opposition) promised to make the payment of premiums 'one-time'. This has been a very controversial policy issue in Ghana. This study sought to contribute to assessing the feasibility of the proposed policy by exploring the understandings of various stakeholders on the policy, their interests or concerns, potential positions, power and influences on it, as well as the general prospects and challenges for its implementation. Data were gathered from a review of relevant documents in the public domain, 28 key informant interviews and six focus group discussions with key stakeholders in Accra and two other districts. The results show that there is a lot of confusion in stakeholders' understanding of the policy issue, and, because of the uncertainties surrounding it, most powerful stakeholders are yet to take clear positions on it. However, stakeholders raised concerns that revolved around issues such as: the meaning of a one-time premium within an insurance scheme context, the affordability of the one-time premium, financing sources and sustainability of the policy, as well as the likely impact of the policy on equity in access to health care. Policy-makers need to clearly explain the meaning of the one-time premium policy and how it will be funded, and critically consider the concerns raised by stakeholders before proceeding with further attempts to implement it. For other countries planning universal coverage reforms, it is important that the terminology of their reforms clearly reflects policy objectives.

Marketing assets: relating brand equity and customer equity

OpenAIRE

Romero, Jaime; Yagüe, María J.

2016-01-01

Purpose: Brand equity and customer equity are inextricably linked. Some authors propose that marketing activities build these intangible assets simultaneously. In contrast, others suggest that brand equity is an antecedent of customer equity. In this research, we aim to shed light about the relationship between brand equity and customer equity, by empirically testing these two alternative explanations. Design/methodology/approach: We propose four research models that reflect these two alte...

Basic Functional Analysis Puzzles of Spectral Flow

DEFF Research Database (Denmark)

Booss-Bavnbek, Bernhelm

2011-01-01

We explain an array of basic functional analysis puzzles on the way to general spectral flow formulae and indicate a direction of future topological research for dealing with these puzzles.......We explain an array of basic functional analysis puzzles on the way to general spectral flow formulae and indicate a direction of future topological research for dealing with these puzzles....

49 CFR 260.15 - Credit risk premium.

Science.gov (United States)

2010-10-01

... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...

Astroparticle physics: puzzles and discoveries

International Nuclear Information System (INIS)

Berezinsky, V

2008-01-01

Puzzles often give birth to the great discoveries, the false discoveries sometimes stimulate the exiting ideas in theoretical physics. The historical examples of both are described in Introduction and in section 'Cosmological Puzzles'. From existing puzzles most attention is given to Ultra High Energy Cosmic Ray (UHECR) puzzle and to cosmological constant problem. The 40-years old UHECR problem consisted in absence of the sharp steepening in spectrum of extragalactic cosmic rays caused by interaction with CMB radiation. This steepening is known as Greisen-Zatsepin-Kuzmin (GZK) cutoff. It is demonstrated here that the features of interaction of cosmic ray protons with CMB are seen now in the spectrum in the form of the dip and beginning of the GZK cutoff. The most serious cosmological problem is caused by large vacuum energy of the known elementary-particle fields which exceeds at least by 45 orders of magnitude the cosmological vacuum energy. The various ideas put forward to solve this problem during last 40 years, have weaknesses and cannot be accepted as the final solution of this puzzle. The anthropic approach is discussed

Current puzzles in nuclear physics

International Nuclear Information System (INIS)

1985-01-01

A meeting on ''Current puzzles in nuclear physics'' was held at Research Center for Nuclear Physics, Osaka University, on June 27 - 28, 1984. The meeting put emphasis on several puzzles which have not been solved for a long time in nuclear physics, and also on the puzzles. This collective report is composed of following eleven papers presented at the meeting. Almost all the papers are witten in English : (1) M1, GT excitations and configuration mixing (in Japanese). (2) Hadronic excitation of pionic states. (3) Microscopic analyses of 28 Si(α,α') 28 Si scattering and single particle strength in A = 29 nuclei. (4) Few-body physics and its incentives to nuclear physics. (5) Is it necessary to introduce three body interactions ? (in Japanese). (6) Puzzles in the neutron-deuteron elastic scattering. (7) Puzzles in NN, NΔ, πN and Nanti N interactions. (8) Problems in Hadron-Nucleus interaction. (9) Unified approach to the meson- and quark- theory of nuclear forces and currents. (10) Pion photoproduction in two Chiral bag models. (11) The dynamic bag model : The electromagnetic properties of nucleon. (Aoki, K.)

The impact of liquidity and size premium on equity price formation in Serbia

Directory of Open Access Journals (Sweden)

Minović Jelena

2012-01-01

Full Text Available The goal of this paper is to examine the impact of an overall market factor, the factor related to the firm size, the factor related to the ratio of book to market value of companies, and the factor of liquidity risk on expected asset returns in the Serbian market. For this market we estimated different factor models: Capital Asset Pricing Model (CAPM by Sharpe, 1964, Fama-French (FF model (1992, 1993, Liquidity-augmented CAPM (LCAPM by Liu (2006, and combination LCAPM with FF factors. We used daily data for the period from 2005 to 2009. Using a demanding methodology and complex dataset, we found that liquidity and firm size had a significant impact on equity price formation in Serbia. On the other hand, our results suggest that the factor related to the ratio of book to market value of companies does not have an important role in asset pricing in Serbia. We found that Liu’s two factor LCAPM model performs better in explaining stock returns than the standard CAPM and the Fama-French three factor model. Additionally, Liu’s LCAPM may indeed be a good tool for realistic assessment of the expected asset returns. The combination of the Fama-French model and the LCAPM could improve the understanding of equilibrium in the Serbian equity market. Even though previous papers have mostly dealt with examining different factor models of developed or emerging markets worldwide, none of them has tested factor models on the countries of former Yugoslavia. This paper is the first to test the FF model and LCAPM with FF factors in the case of Serbia and the area of ex-Yugoslavia. [Projekat Ministarstva nauke Republike Srbije, br. 179015: Challenges and Prospects of Structural Changes in Serbia: Strategic Directions for Economic Development and Harmonization With EU Requirements

24 CFR 221.254 - Mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premiums. 221... Cost Homes § 221.254 Mortgage insurance premiums. (a) All of the provisions of §§ 203.260 through 203.295 of this chapter relating to mortgage insurance premiums shall apply to mortgages insured under...

Premium Forecasting of AN Insurance Company:

Science.gov (United States)

Fouladvand, M. Ebrahim; Darooneh, Amir H.

We present an analytical study of an insurance company. We model the company's performance on a statistical basis and evaluate the predicted annual income of the company in terms of insurance parameters namely the premium, the total number of insured, average loss claims etc. We restrict ourselves to a single insurance class the so-called automobile insurance. We show the existence of a crossover premium pc below which the company is operating at a loss. Above pc, we also give a detailed statistical analysis of the company's financial status and obtain the predicted profit along with the corresponding risk as well as ruin probability in terms of premium. Furthermore we obtain the optimal premium popt which maximizes the company's profit.

The Anatomy Puzzle Book.

Science.gov (United States)

Jacob, Willis H.; Carter, Robert, III

This document features review questions, crossword puzzles, and word search puzzles on human anatomy. Topics include: (1) Anatomical Terminology; (2) The Skeletal System and Joints; (3) The Muscular System; (4) The Nervous System; (5) The Eye and Ear; (6) The Circulatory System and Blood; (7) The Respiratory System; (8) The Urinary System; (9) The…

Employee responses to health insurance premium increases.

Science.gov (United States)

Goldman, Dana P; Leibowitz, Arleen A; Robalino, David A

2004-01-01

To determine the sensitivity of employees' health insurance decisions--including the decision to not choose health maintenance organization or fee-for-service coverage--during periods of rapidly escalating healthcare costs. A retrospective cohort study of employee plan choices at a single large firm with a "cafeteria-style" benefits plan wherein employees paid all the additional cost of purchasing more generous insurance. We modeled the probability that an employee would drop coverage or switch plans in response to employee premium increases using data from a single large US company with employees across 47 states during the 3-year period of 1989 through 1991, a time of large premium increases within and across plans. Premium increases induced substantial plan switching. Single employees were more likely to respond to premium increases by dropping coverage, whereas families tended to switch to another plan. Premium increases of 10% induced 7% of single employees to drop or severely cut back on coverage; 13% to switch to another plan; and 80% to remain in their existing plan. Similar figures for those with family coverage were 11%, 12%, and 77%, respectively. Simulation results that control for known covariates show similar increases. When faced with a dramatic increase in premiums--on the order of 20%--nearly one fifth of the single employees dropped coverage compared with 10% of those with family coverage. Employee coverage decisions are sensitive to rapidly increasing premiums, and single employees may be likely to drop coverage. This finding suggests that sustained premium increases could induce substantial increases in the number of uninsured individuals.

Tangrams: Puzzles of Art

Science.gov (United States)

Fee, Brenda

2009-01-01

Challenging one's brain is the beginning of making great art. Tangrams are a great way to keep students thinking about their latest art project long after leaving the classroom. A tangram is a Chinese puzzle. The earliest known reference to tangrams appears in a Chinese book dated 1813, but the puzzles existed long before that date. The puzzle…

24 CFR 266.602 - Mortgage insurance premium: Insured advances.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Insured... Contract Rights and Obligations Mortgage Insurance Premiums § 266.602 Mortgage insurance premium: Insured.... On each anniversary of the initial closing, the HFA shall pay an interim mortgage insurance premium...

Health Insurance Marketplaces: Premium Trends in Rural Areas.

Science.gov (United States)

Barker, Abigail R; Kemper, Leah M; McBride, Timothy D; Meuller, Keith J

2016-05-01

Since 2014, when the Health Insurance Marketplaces (HIMs) authorized by the Patient Protection and Affordable Care Act (ACA) were implemented, considerable premium changes have been observed in the marketplaces across the 50 states and the District of Columbia. This policy brief assesses the changes in average HIM plan premiums from 2014 to 2016, before accounting for subsidies, with an emphasis on the widening variation across rural and urban places. Since this brief focuses on premiums without accounting for subsidies, this is not intended to be an analysis of the "affordability" of ACA premiums, as that would require assessment of premiums, cost-sharing adjustments, and other factors.

24 CFR 266.604 - Mortgage insurance premium: Other requirements.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Other... Contract Rights and Obligations Mortgage Insurance Premiums § 266.604 Mortgage insurance premium: Other..., based upon the respective share of risk, that is to be used in calculating mortgage insurance premiums...

Marketing assets: Relating brand equity and customer equity

Directory of Open Access Journals (Sweden)

Jaime Romero

2016-03-01

Full Text Available Purpose: Brand equity and customer equity are inextricably linked. Some authors propose that marketing activities build these intangible assets simultaneously. In contrast, others suggest that brand equity is an antecedent of customer equity. In this research, we aim to shed light about the relationship between brand equity and customer equity, by empirically testing these two alternative explanations. Design/methodology/approach: We propose four research models that reflect these two alternatives explanations regarding the link between brand equity and customer equity. In order to estimate these models we employ Structural Equations Modelling. We measure model variables using data collected through a survey to marketing managers of services companies that operate in Spain. We compare these four research models in terms of explanatory power and goodness of fit. Findings: Our results indicate that the models that correspond to the simultaneity approach have a higher explanatory power and goodness of fit than the models that suggest that brand equity is an antecedent of customer equity, thus supporting that these intangible assets are built by marketing activities at the same time. Research limitations/implications: Our results recommend caution when interpreting previous research about the effects of brand (customer equity, as they might indeed correspond to customer (brand management. Similarly, future research focusing on customer and brand management need to take into account both managerial areas in their studies. Practical implications: From a practitioners’ point of view, our findings suggest adopting a brand-customer portfolio approach to enhance company profitability. Similarly, we derive implications for firm valuation processes, which incorporate brand equity and customer equity in their calculations. Originality/value: We empirically study the relationship between brand equity and customer equity, while previous research has analyzed

77 FR 26698 - Allocation of Mortgage Insurance Premiums

Science.gov (United States)

2012-05-07

... Allocation of Mortgage Insurance Premiums AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final... explain how to allocate prepaid qualified mortgage insurance premiums to determine the amount of the... Act of 2010. The regulations affect taxpayers who pay prepaid qualified mortgage insurance premiums...

Marriage Premium in Turkey

OpenAIRE

Mercan, Murat A.

2011-01-01

This paper contributes to the literature in three ways. Our first contribution is calculating the marriage premium for Turkey. Our results suggest that married men earn 27 percent more than single men and married women earn 4 percent less than single women. Our second contribution is calculating the marriage premium for Turkey’s regions. For men, the wage difference is the smallest, 0.43, in Istanbul. The difference is highest in Akdeniz region. For women, the wage difference is smallest, -0....

49 CFR 260.17 - Credit risk premium analysis.

Science.gov (United States)

2010-10-01

... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium analysis. 260.17 Section 260... Financial Assistance § 260.17 Credit risk premium analysis. (a) When Federal appropriations are not available to cover the total subsidy cost, the Administrator will determine the Credit Risk Premium...

Dynamic jump intensities and risk premiums

DEFF Research Database (Denmark)

Christoffersen, Peter; Ornthanalai, Chayawat; Jacobs, Kris

2012-01-01

We build a new class of discrete-time models that are relatively easy to estimate using returns and/or options. The distribution of returns is driven by two factors: dynamic volatility and dynamic jump intensity. Each factor has its own risk premium. The models significantly outperform standard...... models without jumps when estimated on S&P500 returns. We find very strong support for time-varying jump intensities. Compared to the risk premium on dynamic volatility, the risk premium on the dynamic jump intensity has a much larger impact on option prices. We confirm these findings using joint...

Storage and the electricity forward premium

International Nuclear Information System (INIS)

Douglas, Stratford; Popova, Julia

2008-01-01

We develop and test a model describing the influence of natural gas storage inventories on the electricity forward premium. The model is constructed by linking the effect of gas storage constraints on the higher moments of the distribution of electricity prices to an established model of the effect of those moments on the forward premium. The model predicts a sharply negative effect of gas storage inventories on the electricity forward premium when demand for electricity is high and space-heating demand for gas is low. Empirical results, based on PJM data, strongly support the model. (author)

7 CFR 400.710 - Preemption and premium taxation.

Science.gov (United States)

2010-01-01

... 7 Agriculture 6 2010-01-01 2010-01-01 false Preemption and premium taxation. 400.710 Section 400... of Policies and Rates of Premium § 400.710 Preemption and premium taxation. A policy or plan of insurance that is approved by the Board for FCIC reinsurance is preempted from state and local taxation. ...

Consumer-Based Brand Equity of Products and Services: Assessing a Measurement Model with Competing Brands

Directory of Open Access Journals (Sweden)

Rafael Barreiros Porto

2018-04-01

Full Text Available  Objective: Identifying which brand in a category conveys more or less value to the consumer raises questions about the composition of brand equity measures and the brands that make up the category. Measures to identify Consumer-Based Brand Equity (CBBE may include functional assessments of consumer’s brand choice and firms’ brand performance, as long as they embrace competing brands. In view of this, this study comes up with a validation of a measurement model of Consumer-Based Brand Equity for competing brands of products and services, testing for possible moderation (product / service and experienced / non-experienced consumers. Method: Appraising 39 brands, the model was composed of 6 metrics: awareness, perceived quality, loyalty, association, exclusiveness and willingness to pay a price premium. Confirmatory factorial analysis revealed the CBBE structure and multigroup moderation tests showed the comparisons between products and services and between experienced and non-experienced consumers. Main Result: The metrics have convergent validity with very good model fit. The metrics are similar for products / services, but different for consumers with / without experience (evidence of moderation. Contributions: Based on this measure, researchers and marketers can identify whether their brand's performance has been perceived better or worse than that of their competitors. Relevance/Originality: This article is the first to offer a more complete scale to assess the consumer-based brand equity of products and services, allowing the researcher to compare the competitiveness between brands. 

Physical Premium Principle: A New Way for Insurance Pricing

Science.gov (United States)

Darooneh, Amir H.

2005-03-01

In our previous work we suggested a way for computing the non-life insurance premium. The probable surplus of the insurer company assumed to be distributed according to the canonical ensemble theory. The Esscher premium principle appeared as its special case. The difference between our method and traditional principles for premium calculation was shown by simulation. Here we construct a theoretical foundation for the main assumption in our method, in this respect we present a new (physical) definition for the economic equilibrium. This approach let us to apply the maximum entropy principle in the economic systems. We also extend our method to deal with the problem of premium calculation for correlated risk categories. Like the Buhlman economic premium principle our method considers the effect of the market on the premium but in a different way.

24 CFR 266.600 - Mortgage insurance premium: Insurance upon completion.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.600 Mortgage insurance premium: Insurance upon completion. (a) Initial premium. For projects insured upon completion, on...

Puzzles of large scale structure and gravitation

International Nuclear Information System (INIS)

Sidharth, B.G.

2006-01-01

We consider the puzzle of cosmic voids bounded by two-dimensional structures of galactic clusters as also a puzzle pointed out by Weinberg: How can the mass of a typical elementary particle depend on a cosmic parameter like the Hubble constant? An answer to the first puzzle is proposed in terms of 'Scaled' Quantum Mechanical like behaviour which appears at large scales. The second puzzle can be answered by showing that the gravitational mass of an elementary particle has a Machian character (see Ahmed N. Cantorian small worked, Mach's principle and the universal mass network. Chaos, Solitons and Fractals 2004;21(4))

Insurance premiums and insurance coverage of near-poor children.

Science.gov (United States)

Hadley, Jack; Reschovsky, James D; Cunningham, Peter; Kenney, Genevieve; Dubay, Lisa

States increasingly are using premiums for near-poor children in their public insurance programs (Medicaid/SCHIP) to limit private insurance crowd-out and constrain program costs. Using national data from four rounds of the Community Tracking Study Household Surveys spanning the seven years from 1996 to 2003, this study estimates a multinomial logistic regression model examining how public and private insurance premiums affect insurance coverage outcomes (Medicaid/SCHIP coverage, private coverage, and no coverage). Higher public premiums are significantly associated with a lower probability of public coverage and higher probabilities of private coverage and uninsurance; higher private premiums are significantly related to a lower probability of private coverage and higher probabilities of public coverage and uninsurance. The results imply that uninsurance rates will rise if both public and private premiums increase, and suggest that states that impose or increase public insurance premiums for near-poor children will succeed in discouraging crowd-out of private insurance, but at the expense of higher rates of uninsurance. Sustained increases in private insurance premiums will continue to create enrollment pressures on state insurance programs for children.

Ten badly explained topics in most corporate finance books

OpenAIRE

Fernandez, Pablo

2012-01-01

This paper addresses 10 corporate finance topics that are not well treated (or not treated at all) in many Corporate Finance Books. The topics are: 1. Where does the WACC equation come from? 2. The WACC is not a cost. 3. What is the WACC equation when the value of the debt is not equal to its nominal value? 4. The term equity premium is used to designate four different concepts. 5. Textbooks differ a lot on their recommendations regarding the equity premium. 6. Which Equity Premium is used by...

Physical Premium Principle: A New Way for Insurance Pricing

Directory of Open Access Journals (Sweden)

Amir H. Darooneh

2005-02-01

Full Text Available Abstract: In our previous work we suggested a way for computing the non-life insurance premium. The probable surplus of the insurer company assumed to be distributed according to the canonical ensemble theory. The Esscher premium principle appeared as its special case. The difference between our method and traditional principles for premium calculation was shown by simulation. Here we construct a theoretical foundation for the main assumption in our method, in this respect we present a new (physical definition for the economic equilibrium. This approach let us to apply the maximum entropy principle in the economic systems. We also extend our method to deal with the problem of premium calculation for correlated risk categories. Like the Buhlman economic premium principle our method considers the effect of the market on the premium but in a different way.

Health Equity Talk: Understandings of Health Equity among Health Leaders

Directory of Open Access Journals (Sweden)

Bernadette M. Pauly

2017-11-01

Full Text Available Introduction: Reducing health inequities is a stated goal of health systems worldwide. There is widespread commitment to health equity among public health leaders and calls for reorientation of health systems towards health equity. As part of the Equity Lens in Public Health (ELPH program of research, public health decision makers and researchers in British Columbia collaborated to study the application of a health equity lens in a time of health system renewal. We drew on intersectionality, complexity and critical social justice theories to understand how participants construct health equity and apply a health equity lens as part of public health renewal. Methods: 15 focus groups and 16 individual semi-structured qualitative interviews were conducted with 55 health system leaders. Data were analyzed using constant comparative analysis to explore how health equity was constructed in relation to understandings and actions. Results: Four main themes were identified in terms of how health care leaders construct health equity and actions to reduce health inequities: (1 population health, (2 determinants of health, and (3 accessibility and (4 challenges of health equity talk. The first three aspects of health equity talk reflect different understandings of health equity rooted in vulnerability (individual versus structural, determinants of health (material versus social determinants, and appropriate health system responses (targeted versus universal responses. Participants identified that talking about health equity in the health care system, either inside or outside of public health, is a ‘challenging conversation’ because health equity is understood in diverse ways and there is little guidance available to apply a health equity lens. Conclusions: These findings reflect the importance of creating a shared understanding of health equity within public health systems, and providing guidance and clarity as to the meaning and application of a health

Sleep for Kids: Games and Puzzles

Science.gov (United States)

... and puzzles can help you learn more about sleep! Learn about sleep with this fun crossword puzzle! Test your memory and learn how to get better sleep! Find the hidden sleep words! Avoid things that ...

78 FR 70856 - Information Reporting of Mortgage Insurance Premiums

Science.gov (United States)

2013-11-27

... Information Reporting of Mortgage Insurance Premiums AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... regulations that require information reporting by persons who receive mortgage insurance premiums, including... reporting requirements that result from the extension of the treatment of mortgage insurance premiums made...

Equity venture capital platform model based on complex network

Science.gov (United States)

Guo, Dongwei; Zhang, Lanshu; Liu, Miao

2018-05-01

This paper uses the small-world network and the random-network to simulate the relationship among the investors, construct the network model of the equity venture capital platform to explore the impact of the fraud rate and the bankruptcy rate on the robustness of the network model while observing the impact of the average path length and the average agglomeration coefficient of the investor relationship network on the income of the network model. The study found that the fraud rate and bankruptcy rate exceeded a certain threshold will lead to network collapse; The bankruptcy rate has a great influence on the income of the platform; The risk premium exists, and the average return is better under a certain range of bankruptcy risk; The structure of the investor relationship network has no effect on the income of the investment model.

Customer equity of Pakistani fast food restaurant: A study of attitudinal customer equity

Directory of Open Access Journals (Sweden)

Zubair

2017-02-01

Full Text Available Customer Equity is true representative of relationship marketing. There are two major approach-es to measure Customer Equity: Transaction/sales based approach and Attitudinal Approach. This research is an effort to check customer equity of fast food restaurants of Pakistan by using attitudinal approach. Transactional customer equity is treated as criterion for attitudinal customer equity. Three drivers of Customer Equity are Value Equity, Brand equity and Relationship equity are taken as independent variables in this research. Convenient sampling technique was used and sample size was 393 respondents. The results show that attitudinal customer equity had strong association with transactional equity. Brand equity, value equity and relationship equity show positive associations with attitudinal customer equity.

Risk premiums in the German day-ahead Electricity Market

International Nuclear Information System (INIS)

Viehmann, Johannes

2011-01-01

This paper conducts an empirical analysis of risk premiums in the German day-ahead Electricity Wholesale Market. We compare hourly price data of the European Energy Exchange (EEX) auction and of the continuous over-the-counter (OTC) market which takes place prior to the EEX auction. Data provided by the Energy Exchange Austria (EXAA) has been used as a snapshot of the OTC market two hours prior to the EEX auction. Ex post analysis found market participants are willing to pay both significant positive and negative premiums for hourly contracts. The largest positive premiums were paid for high demand evening peak hours on weekdays during winter months. By contrast, night hours on weekends featuring lowest demand levels display negative premiums. Additionally, ex ante analysis found a strong positive correlation between the expected tightness of the system and positive premiums. For this purpose, a tightness factor has been introduced that includes expectations of fundamental factors such as power plant availability, wind power production and demand. Hence, findings by can be supported that power traders in liberalised markets behave like risk-averse rational economic agents. - Research highlights: →Analysis of hourly risk premiums in the German day-ahead Electricity Wholesale Market. →Market participants are willing to pay both significant positive and negative premiums for hourly contracts. →A strong correlation exists between the expected tightness of the power system and premiums.

The dynamics of risk premiums in Nord Pool's futures market

International Nuclear Information System (INIS)

Mork, E.

2006-01-01

Premiums in futures prices are usually considered through the use of 2 models: a no-arbitrage model; and the equilibrium approach or theory of normal backwardation. The no-arbitrage approach equates futures prices with spot prices, storage costs and convenience yields, and is difficult to apply to electricity markets. This paper investigated future electricity prices in Nord Pool's futures market using an equilibrium approach, which split futures prices into an expected spot price component and a risk premium component. Three main hypotheses were used: (1) that risk premiums were present in the Nord Pool futures market during the period 1997-2004; that risk premiums in the Nord Pool futures market were smaller or absent during the period of 2000 to 2002; and, that there was a significant change in risk premiums in Nord Pool's futures market after the winter of 2002-2003 due to a change in consumer hedging behaviour. Futures prices were compared to realized spot prices in their delivery periods in order to test the hypotheses. In order to estimate the futures premiums, a 1-sample test was performed on the entire period for 1, 30, 60, and 90 days before delivery of the block or month contract. The test employed the null hypothesis that the futures premiums were 0. Premiums were positive and varied between 3.7 per cent and 9.3 per cent. The purpose of the study was to determine whether risk premiums were present. Results showed that risk premiums varied over time. Two additional hypotheses were then investigated to examine whether the presence of outside speculators reduced risk premiums, and to see if a period of high prices and volatility caused more buyers to hedge in the futures market. Results showed that in the face of volatility and higher prices, consumers do not purchase fixed-price contracts which would ultimately increase futures premiums in the market. It was concluded that premiums are an important element in the pricing of Nord Pool futures and forwards

ACA Marketplace premiums and competition among hospitals and physician practices.

Science.gov (United States)

Polyakova, Maria; Bundorf, M Kate; Kessler, Daniel P; Baker, Laurence C

2018-02-01

To examine the association between annual premiums for health plans available in Federally Facilitated Marketplaces (FFMs) and the extent of competition and integration among physicians and hospitals, as well as the number of insurers. We used observational data from the Center for Consumer Information and Insurance Oversight on the annual premiums and other characteristics of plans, matched to measures of physician, hospital, and insurer market competitiveness and other characteristics of 411 rating areas in the 37 FFMs. We estimated multivariate models of the relationship between annual premiums and Herfindahl-Hirschman indices of hospitals and physician practices, controlling for the number of insurers, the extent of physician-hospital integration, and other plan and rating area characteristics. Premiums for Marketplace plans were higher in rating areas in which physician, hospital, and insurance markets were less competitive. An increase from the 10th to the 90th percentile of physician concentration and hospital concentration was associated with increases of $393 and $189, respectively, in annual premiums for the Silver plan with the second lowest cost. A similar increase in the number of insurers was associated with a $421 decrease in premiums. Physician-hospital integration was not significantly associated with premiums. Premiums for FFM plans were higher in markets with greater concentrations of hospitals and physicians but fewer insurers. Higher premiums make health insurance less affordable for people purchasing unsubsidized coverage and raise the cost of Marketplace premium tax credits to the government.

Phthalate Puzzle

Indian Academy of Sciences (India)

Abstract. The most common plasticizer, phthalates, are facing stricterregulations due to their omnipresence and possible effects onhuman health, and environment. But high cost, lack of applicationrange, and unknown long-term effects of non-phthalatealternatives make the scenario puzzling.

31 CFR 337.8 - Payment of mortgage insurance premiums.

Science.gov (United States)

2010-07-01

... insurance premiums. When certificated debentures are tendered for purchase prior to maturity in order that the proceeds thereof be applied to pay for mortgage insurance premiums, any difference between the amount of the debentures purchased and the amount of the mortgage insurance premium will generally be...

Musings on the puzzle piece.

Science.gov (United States)

Goin-Kochel, Robin P

2016-02-01

Following is a brief musing on Roy Grinker's discussion of what the puzzle piece symbolizes for autism during his presentation at the 2015 International Meeting for Autism Research. In his words, "The puzzle piece is ubiquitous." It likely holds a different meaning for each of us, and this is how one autism researcher sees it. © The Author(s) 2015.

Imaginary Cubes and Their Puzzles

Directory of Open Access Journals (Sweden)

Hideki Tsuiki

2012-05-01

Full Text Available Imaginary cubes are three dimensional objects which have square silhouette projections in three orthogonal ways just as a cube has. In this paper, we study imaginary cubes and present assembly puzzles based on them. We show that there are 16 equivalence classes of minimal convex imaginary cubes, among whose representatives are a hexagonal bipyramid imaginary cube and a triangular antiprism imaginary cube. Our main puzzle is to put three of the former and six of the latter pieces into a cube-box with an edge length of twice the size of the original cube. Solutions of this puzzle are based on remarkable properties of these two imaginary cubes, in particular, the possibility of tiling 3D Euclidean space.

Premium Pricing of Liability Insurance Using Random Sum Model

Directory of Open Access Journals (Sweden)

Mujiati Dwi Kartikasari

2017-03-01

Full Text Available Premium pricing is one of important activities in insurance. Nonlife insurance premium is calculated from expected value of historical data claims. The historical data claims are collected so that it forms a sum of independent random number which is called random sum. In premium pricing using random sum, claim frequency distribution and claim severity distribution are combined. The combination of these distributions is called compound distribution. By using liability claim insurance data, we analyze premium pricing using random sum model based on compound distribution

A comment on 'Storage and the electricity forward premium'

International Nuclear Information System (INIS)

Bloys van Treslong, Adriaan; Huisman, Ronald

2010-01-01

This paper examines the robustness of the results found by Douglas and Popova (2008). They examine the electricity forward premium in relation to gas storage inventories and find that, although electricity is not directly storable, electricity forward premiums are lower when gas storage inventories are higher, especially on days with high temperatures. Douglas and Popova (2008) derive their results from a forward premium model that is an extension of the Bessembinder and Lemmon (2002) model. We examine whether the gas storage inventory results hold under a different specification of the forward risk premium. Our results support the results found by Douglas and Popova (2008) and show that their results are not influenced by the specification of the forward premium model. (author)

The Eco-Efficiency Premium Puzzle

NARCIS (Netherlands)

J. Derwall (Jeroen); N.K. Günster (Nadja); R. Bauer (Rob); C.G. Koedijk (Kees)

2004-01-01

textabstractThere exists a widespread consensus among mainstream academics and investors that socially responsible investing (SRI) leads to inferior, rather than superior, portfolio performance. Using Innovest’s well-established corporate ecoefficiency scores, we provide evidence to the contrary. We

A Cat Bond Premium Puzzle?

OpenAIRE

Vivek J. Bantwal; Howard C. Kunreuther

1999-01-01

Catastrophe Bonds whose payoffs are tied to the occurrence of natural disasters offer insurers the ability to hedge event risk through the capital markets that could otherwise leave them insolvent if concentrated solely on their own balance sheets. At the same time, they offer investors a unique opportunity to enhance their portfolios with an asset that provides an attractive return that is uncorrelated with typical financial securities Despite its attractiveness, spreads in this market remai...

A note on weighted premium calculation principles

NARCIS (Netherlands)

Kaluszka, M.; Laeven, R.J.A.; Okolewski, A.

2012-01-01

A prominent problem in actuarial science is to determine premium calculation principles that satisfy certain criteria. Goovaerts et al. [Goovaerts, M. J., De Vylder, F., Haezendonck, J., 1984. Insurance Premiums: Theory and Applications. North-Holland, Amsterdam, p. 84] establish an optimality-type

Explaining the so-called 'price premium' in oil markets

International Nuclear Information System (INIS)

Merino, A.; Ortiz, A.

2005-01-01

This paper explores the information content of several variables on the so-called ''oil price premium over fundamentals''. We define this premium as the difference between the market oil price and the estimated price consistent with the OECD's relative industry stock level. By using Granger causality tests and extended regressions we test the systematic ability of a broad set of variables to explain the premium. We find that speculation in the oil market - measured by non-commercial long positions - can improve the traditional model, reducing the premium significantly during some parts of the sample. (author)

Promoting the market and system integration of renewable energies through premium schemes—A case study of the German market premium

International Nuclear Information System (INIS)

Gawel, Erik; Purkus, Alexandra

2013-01-01

With the share of renewable energies within the electricity sector rising, improving their market and system integration is of increasing importance. By offering plant operators a premium on top of the electricity market price, premium schemes represent an option to increase the alignment of renewable electricity production with market signals, and have been implemented by several EU member states. This paper examines the case study of the German market premium scheme adopted in 2012. Building on an evaluation of early experiences, we discuss whether the market premium contributes to the aims of market and/or system integration (effectiveness), and what potential efficiency gains and additional costs of “administering integration” are associated with it (efficiency). While exposing renewables to price risks is not the scheme’s purpose, it has successfully increased participation in direct marketing. However, risks of overcompensating producers for marketing and balancing costs are high, and the benefits of gradually leading plant operators towards the market are questionable. Incentives for demand-oriented production are established, but they seem insufficient particularly in the case of intermittent renewable energy sources. To conclude, we provide an outlook on alternative designs of premium schemes, and discuss whether they seem better suited for addressing the challenges ahead. - Highlights: • Premium schemes are used to align renewable energy sources (RES) with market signals. • We examine the effectiveness and efficiency of the German market premium scheme. • Participation in direct marketing has increased, but so have support costs. • For intermittent RES, incentives for demand-oriented production are insufficient. • Efficiency gains from exposing RES to market risks entail several trade-offs

Hadronic decay puzzle in charmonium physics

International Nuclear Information System (INIS)

Gu Yifan

1996-01-01

Recent experimental results obtained at Beijing Electron-proton Collider sensitivity level the crisply defined nature of the hadronic decay puzzle in charmonium physics. Discovery of new anomalous decay modes breaks with the previously established pattern of the puzzle, and poses new challenges for its theoretical understanding

Equity in health care financing: The case of Malaysia.

Science.gov (United States)

Yu, Chai Ping; Whynes, David K; Sach, Tracey H

2008-06-09

Equitable financing is a key objective of health care systems. Its importance is evidenced in policy documents, policy statements, the work of health economists and policy analysts. The conventional categorisations of finance sources for health care are taxation, social health insurance, private health insurance and out-of-pocket payments. There are nonetheless increasing variations in the finance sources used to fund health care. An understanding of the equity implications would help policy makers in achieving equitable financing. The primary purpose of this paper was to comprehensively assess the equity of health care financing in Malaysia, which represents a new country context for the quantitative techniques used. The paper evaluated each of the five financing sources (direct taxes, indirect taxes, contributions to Employee Provident Fund and Social Security Organization, private insurance and out-of-pocket payments) independently, and subsequently by combined the financing sources to evaluate the whole financing system. Cross-sectional analyses were performed on the Household Expenditure Survey Malaysia 1998/99, using Stata statistical software package. In order to assess inequality, progressivity of each finance sources and the whole financing system was measured by Kakwani's progressivity index. Results showed that Malaysia's predominantly tax-financed system was slightly progressive with a Kakwani's progressivity index of 0.186. The net progressive effect was produced by four progressive finance sources (in the decreasing order of direct taxes, private insurance premiums, out-of-pocket payments, contributions to EPF and SOCSO) and a regressive finance source (indirect taxes). Malaysia's two tier health system, of a heavily subsidised public sector and a user charged private sector, has produced a progressive health financing system. The case of Malaysia exemplifies that policy makers can gain an in depth understanding of the equity impact, in order to help

Equity in health care financing: The case of Malaysia

Directory of Open Access Journals (Sweden)

Sach Tracey H

2008-06-01

Full Text Available Abstract Background Equitable financing is a key objective of health care systems. Its importance is evidenced in policy documents, policy statements, the work of health economists and policy analysts. The conventional categorisations of finance sources for health care are taxation, social health insurance, private health insurance and out-of-pocket payments. There are nonetheless increasing variations in the finance sources used to fund health care. An understanding of the equity implications would help policy makers in achieving equitable financing. Objective The primary purpose of this paper was to comprehensively assess the equity of health care financing in Malaysia, which represents a new country context for the quantitative techniques used. The paper evaluated each of the five financing sources (direct taxes, indirect taxes, contributions to Employee Provident Fund and Social Security Organization, private insurance and out-of-pocket payments independently, and subsequently by combined the financing sources to evaluate the whole financing system. Methods Cross-sectional analyses were performed on the Household Expenditure Survey Malaysia 1998/99, using Stata statistical software package. In order to assess inequality, progressivity of each finance sources and the whole financing system was measured by Kakwani's progressivity index. Results Results showed that Malaysia's predominantly tax-financed system was slightly progressive with a Kakwani's progressivity index of 0.186. The net progressive effect was produced by four progressive finance sources (in the decreasing order of direct taxes, private insurance premiums, out-of-pocket payments, contributions to EPF and SOCSO and a regressive finance source (indirect taxes. Conclusion Malaysia's two tier health system, of a heavily subsidised public sector and a user charged private sector, has produced a progressive health financing system. The case of Malaysia exemplifies that policy makers

Incentive-compatible guaranteed renewable health insurance premiums.

Science.gov (United States)

Herring, Bradley; Pauly, Mark V

2006-05-01

Theoretical models of guaranteed renewable insurance display front-loaded premium schedules. Such schedules both cover lifetime total claims of low-risk and high-risk individuals and provide an incentive for those who remain low-risk to continue to purchase the policy. Questions have been raised of whether actual individual insurance markets in the US approximate the behavior predicted by these models, both because young consumers may not be able to "afford" front-loading and because insurers may behave strategically in ways that erode the value of protection against risk reclassification. In this paper, the optimal competitive age-based premium schedule for a benchmark guaranteed renewable health insurance policy is estimated using medical expenditure data. Several factors are shown to reduce the amount of front-loading necessary. Indeed, the resulting optimal premium path increases with age. Actual premium paths exhibited by purchasers of individual insurance are close to the optimal renewable schedule we estimate. Finally, consumer utility associated with the feature is examined.

PSQP: Puzzle Solving by Quadratic Programming.

Science.gov (United States)

Andalo, Fernanda A; Taubin, Gabriel; Goldenstein, Siome

2017-02-01

In this article we present the first effective method based on global optimization for the reconstruction of image puzzles comprising rectangle pieces-Puzzle Solving by Quadratic Programming (PSQP). The proposed novel mathematical formulation reduces the problem to the maximization of a constrained quadratic function, which is solved via a gradient ascent approach. The proposed method is deterministic and can deal with arbitrary identical rectangular pieces. We provide experimental results showing its effectiveness when compared to state-of-the-art approaches. Although the method was developed to solve image puzzles, we also show how to apply it to the reconstruction of simulated strip-shredded documents, broadening its applicability.

The conditional size premium and intertemporal risk

DEFF Research Database (Denmark)

de Oliveira Souza, Thiago

2018-01-01

The size premium only appears in states with good expected stock returns as given by several state variables, such as the aggregate book-to-market. The annual premium is 15% when this variable is within the top 33% in historical terms and an insignificant 0.4% otherwise. This renders...

Insurer Competition In Federally Run Marketplaces Is Associated With Lower Premiums.

Science.gov (United States)

Jacobs, Paul D; Banthin, Jessica S; Trachtman, Samuel

2015-12-01

Federal subsidies for health insurance premiums sold through the Marketplaces are tied to the cost of the benchmark plan, the second-lowest-cost silver plan. According to economic theory, the presence of more competitors should lead to lower premiums, implying smaller federal outlays for premium subsidies. The long-term impact of the Affordable Care Act on government spending will depend on the cost of these premium subsidies over time, with insurer participation and the level of competition likely to influence those costs. We studied insurer participation and premiums during the first two years of the Marketplaces. We found that the addition of a single insurer in a county was associated with a 1.2 percent lower premium for the average silver plan and a 3.5 percent lower premium for the benchmark plan in the federally run Marketplaces. We found that the effect of insurer entry was muted after two or three additional entrants. These findings suggest that increased insurer participation in the federally run Marketplaces reduces federal payments for premium subsidies. Project HOPE—The People-to-People Health Foundation, Inc.

Private Equity Waves

NARCIS (Netherlands)

J.T.J. Smit (Han); W.A. van den Berg (Ward)

2006-01-01

textabstractThis study presents a dynamic model for the private equity market in which information revelation and uncertainty rationally explain the cyclical pattern of investment flows into private equity. The net benefit of private equity over public equity is i) uncertain and ii) agents have

The Association of State Rate Review Authority with Health Insurance Premiums.

Science.gov (United States)

Ticse, Caroline

2015-10-01

Key findings. (1) Adjusted premiums in the individual market in states with prior approval authority combined with loss ratio requirements were lower in 2010-2013 than premiums in states with no rate review authority or file-and-use regulations only. (2) Adjusted premiums declined modestly in prior approval states while premiums increased in states with no rate review authority or with file-and-use regulations only. (3) The findings suggest that states with prior approval authority and loss ratio requirements constrained increases in health insurance premiums.

Optimal Premium Pricing for a Heterogeneous Portfolio of Insurance Risks

Directory of Open Access Journals (Sweden)

Athanasios A. Pantelous

2009-01-01

Full Text Available The paper revisits the classical problem of premium rating within a heterogeneous portfolio of insurance risks using a continuous stochastic control framework. The portfolio is divided into several classes where each class interacts with the others. The risks are modelled dynamically by the means of a Brownian motion. This dynamic approach is also transferred to the design of the premium process. The premium is not constant but equals the drift of the Brownian motion plus a controlled percentage of the respective volatility. The optimal controller for the premium is obtained using advanced optimization techniques, and it is finally shown that the respective pricing strategy follows a more balanced development compared with the traditional premium approaches.

5 CFR 410.402 - Paying premium pay.

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Paying premium pay. 410.402 Section 410... for Training Expenses § 410.402 Paying premium pay. (a) Prohibitions. Except as provided by paragraph (b) of this section, an agency may not use its funds, appropriated or otherwise available, to pay...

12 CFR 217.101 - Premiums on deposits.

Science.gov (United States)

2010-01-01

... from paying interest on a demand deposit. Premiums, whether in the form of merchandise, credit, or cash... AGAINST THE PAYMENT OF INTEREST ON DEMAND DEPOSITS (REGULATION Q) Interpretations § 217.101 Premiums on... that is not, directly or indirectly, related to or dependent on the balance in a demand deposit account...

Premium adjustment: actuarial analysis on epidemiological models ...

African Journals Online (AJOL)

In this paper, we analyse insurance premium adjustment in the context of an epidemiological model where the insurer's future financial liability is greater than the premium from patients. In this situation, it becomes extremely difficult for the insurer since a negative reserve would severely increase its risk of insolvency, ...

Gender equity.

Science.gov (United States)

Shiva, M

1999-01-01

This paper focuses on gender equity. Gender equity is difficult to achieve when there is no economic, social, or political equity. The Gender Development Index evidenced this. There were a lot of instances where women are psychologically traumatized, whether it is through domestic rape, purchased sexual services in the red light area, and seduction or violation of neighbors, relatives, daughter or child. The economic changes linked with globalization and media's influence have worsened women's position. The policy for empowerment of women is an attempt toward ensuring equity. Furthermore, many women and women's organizations are trying to address these inequities; wherein they fight for strong acceptance of women's rights, social, economic, and political rights, as well as equities between gender and within gender.

The Magnets Puzzle is NP-Complete

DEFF Research Database (Denmark)

Kölker, Jonas

2012-01-01

In a Magnets puzzle, one must pack magnets in a box subjet to polarity and numeric constraints. We show that solvability of Magnets instances is NP-complete.......In a Magnets puzzle, one must pack magnets in a box subjet to polarity and numeric constraints. We show that solvability of Magnets instances is NP-complete....

7 CFR 1962.29 - Payment of fees and insurance premiums.

Science.gov (United States)

2010-01-01

... 7 Agriculture 14 2010-01-01 2009-01-01 true Payment of fees and insurance premiums. 1962.29... Security § 1962.29 Payment of fees and insurance premiums. (a) Fees. (1) Security instruments. Borrowers... the service cannot be obtained without cost. (b) Insurance premiums. County Supervisors are authorized...

24 CFR 266.608 - Mortgage insurance premium: Pro rata refund.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium: Pro... PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.608 Mortgage insurance premium: Pro rata refund. If the Contract of Insurance is terminated by payment in full or is terminated...

Blood Type Puzzle.

Science.gov (United States)

Kelly, Janet

1997-01-01

Presents a blood type puzzle that provides a visual, hands-on mechanism by which students can examine blood group reactions. Offers students an opportunity to construct their own knowledge about blood types. (JRH)

Demystifying first-cost green building premiums in healthcare.

Science.gov (United States)

Houghton, Adele; Vittori, Gail; Guenther, Robin

2009-01-01

This study assesses the extent of "first-cost green building construction premiums" in the healthcare sector based on data submitted by and interviews with 13 current LEED-certified and LEED-registered healthcare project teams, coupled with a literature survey of articles on the topics of actual and perceived first-cost premiums associated with green building strategies. This analysis covers both perceived and realized costs across a range of projects in this sector, leading to the following conclusions: Construction first-cost premiums may be lower than is generally perceived, and they appear to be independent of both building size and level of "green" achievement; projects are using financial incentives and philanthropy to drive higher levels of achievement; premiums are decreasing over time; and projects are benefiting from improvements in health and productivity which, although difficult to monetize, are universally valued.

Height premium for job performance.

Science.gov (United States)

Kim, Tae Hyun; Han, Euna

2017-08-01

This study assessed the relationship of height with wages, using the 1998 and 2012 Korean Labor and Income Panel Study data. The key independent variable was height measured in centimeters, which was included as a series of dummy indicators of height per 5cm span (wages to assess the heterogeneity in the height-wage relationship, across the conditional distribution of monthly wages. We found a non-linear relationship of height with monthly wages. For men, the magnitude of the height wage premium was overall larger at the upper quantile of the conditional distribution of log monthly wages than at the median to low quantile, particularly in professional and semi-professional occupations. The height-wage premium was also larger at the 90th quantile for self-employed women and salaried men. Our findings add a global dimension to the existing evidence on height-wage premium, demonstrating non-linearity in the association between height and wages and heterogeneous changes in the dispersion and direction of the association between height and wages, by wage level. Copyright © 2017 Elsevier B.V. All rights reserved.

24 CFR 232.825 - Pro rata refund of insurance premium.

Science.gov (United States)

2010-04-01

... ASSISTED LIVING FACILITIES Contract Rights and Obligations Premiums § 232.825 Pro rata refund of insurance premium. Upon termination of a loan insurance contract by a payment in full or by a voluntary termination... rata portion of the current annual loan insurance premium theretofore paid which is applicable to the...

12 CFR 741.4 - Insurance premium and one percent deposit.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Insurance premium and one percent deposit. 741... Insurance premium and one percent deposit. (a) Scope. This section implements the requirements of Section... payment of an insurance premium. (b) Definitions. For purposes of this section: (1) Available assets ratio...

77 FR 30377 - Health Insurance Premium Tax Credit

Science.gov (United States)

2012-05-23

... Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. SUMMARY: This document contains final regulations relating to the health insurance premium tax... categories of immigrants described in the Children's Health Insurance Program Reauthorization Act. One...

Early puzzle play: a predictor of preschoolers' spatial transformation skill.

Science.gov (United States)

Levine, Susan C; Ratliff, Kristin R; Huttenlocher, Janellen; Cannon, Joanna

2012-03-01

Individual differences in spatial skill emerge prior to kindergarten entry. However, little is known about the early experiences that may contribute to these differences. The current study examined the relation between children's early puzzle play and their spatial skill. Children and parents (n = 53) were observed at home for 90 min every 4 months (6 times) between 2 and 4 years of age (26 to 46 months). When children were 4 years 6 months old, they completed a spatial task involving mental transformations of 2-dimensional shapes. Children who were observed playing with puzzles performed better on this task than those who did not, controlling for parent education, income, and overall parent word types. Moreover, among those children who played with puzzles, frequency of puzzle play predicted performance on the spatial transformation task. Although the frequency of puzzle play did not differ for boys and girls, the quality of puzzle play (a composite of puzzle difficulty, parent engagement, and parent spatial language) was higher for boys than for girls. In addition, variation in puzzle play quality predicted performance on the spatial transformation task for girls but not for boys. Implications of these findings as well as future directions for research on the role of puzzle play in the development of spatial skill are discussed. PsycINFO Database Record (c) 2012 APA, all rights reserved.

Early Puzzle Play: A predictor of preschoolers’ spatial transformation skill

Science.gov (United States)

Levine, S.C.; Ratliff, K.R.; Huttenlocher, J.; Cannon, J.

2011-01-01

Individual differences in spatial skill emerge prior to kindergarten entry. However, little is known about the early experiences that may contribute to these differences. The current study examines the relation between children’s early puzzle play and their spatial skill. Children and parents (n = 53) were observed at home for 90 minutes every four months (six times) between 2 and 4 years of age (26 to 46 months). When children were 4 years 6 months old, they completed a spatial task involving mental transformations of 2D shapes. Children who were observed playing with puzzles performed better on this task than those who did not, controlling for parent education, income, and overall parent word types. Moreover, among those children who played with puzzles, frequency of puzzle play predicted performance on the spatial transformation task. Although the frequency of puzzle play did not differ for boys and girls, the quality of puzzle play (a composite of puzzle difficulty, parent engagement, and parent spatial language) was higher for boys than girls. In addition, variation in puzzle play quality predicted performance on the spatial transformation task for girls but not boys. Implications of these findings as well as future directions for research on the role of the role of puzzle play in the development of spatial skill are discussed. PMID:22040312

24 CFR 241.825 - Pro rata refund of insurance premium.

Science.gov (United States)

2010-04-01

... Projects Without a HUD-Insured or HUD-Held Mortgage Premiums § 241.825 Pro rata refund of insurance premium... of the current annual loan insurance premium theretofore paid which is applicable to the portion of... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Pro rata refund of insurance...

24 CFR 207.252e - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 207.252e Section 207.252e Housing and Urban Development Regulations Relating to Housing... Premiums § 207.252e Method of payment of mortgage insurance premiums. In the cases that the Commissioner... mortgagees, that mortgage insurance premiums be remitted electronically. [63 FR 1303, Jan. 8, 1998] ...

Deductive Puzzling

Science.gov (United States)

Wanko, Jeffrey J.

2010-01-01

To help fifth- through eighth-grade students develop their deductive reasoning skills, the author used a ten-week supplementary curriculum so that students could answer logic questions. The curriculum, a series of lessons built around language-independent logic puzzles, has been used in classrooms of fifth through eighth grades. In most cases,…

Premium Motorsi priimad päevad / Raigo Neudorf

Index Scriptorium Estoniae

Neudorf, Raigo

2007-01-01

Automüüja Premium Motors on edu saavutanud luksusmaasturi Hummer ning teiste USA eksklusiivsete automarkide müügiõigusega. Tabel: Rentaabel äri. Vt. samas: Palun kaks roosat Hummerit; Premium Motors hakkab sügisel Hiina maastureid müüma.

76 FR 50931 - Health Insurance Premium Tax Credit

Science.gov (United States)

2011-08-17

... Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of... relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care... be able to purchase private health insurance through State-based competitive marketplaces called...

Premium Pricing of Liability Insurance Using Random Sum Model

OpenAIRE

Kartikasari, Mujiati Dwi

2017-01-01

Premium pricing is one of important activities in insurance. Nonlife insurance premium is calculated from expected value of historical data claims. The historical data claims are collected so that it forms a sum of independent random number which is called random sum. In premium pricing using random sum, claim frequency distribution and claim severity distribution are combined. The combination of these distributions is called compound distribution. By using liability claim insurance data, we ...

An empirical study of the information premium on electricity markets

International Nuclear Information System (INIS)

Benth, Fred Espen; Biegler-König, Richard; Kiesel, Rüdiger

2013-01-01

Due to the non-storability of electricity and the resulting lack of arbitrage-based arguments to price electricity forward contracts, a significant time-varying risk premium is exhibited. Using EEX data during the introduction of emission certificates and the German “Atom Moratorium” we show that a significant part of the risk premium in electricity forwards is due to different information sets in spot and forward markets. In order to show the existence of the resulting information premium and to analyse its size we design an empirical method based on techniques relating to enlargement of filtrations and the structure of Hilbert spaces. - Highlights: ► Electricity is non-storable and the classical spot–forward-relationship is invalid. ► Future information will cause an information premium for forward contracts. ► We model this premium mathematically using enlargement of filtrations. ► We develop a statistical method testing for the information premium empirically. ► We apply the test to the 2nd phase of the EUETS and the German “Atom Moratorium”

Obstetricians' rising liability insurance premiums and inductions at late preterm gestations.

Science.gov (United States)

Murthy, Karna; Grobman, William A; Lee, Todd A; Holl, Jane L

2009-04-01

To estimate the association between professional liability insurance premiums for obstetricians and late preterm induction (LPI) rates. Data from the National Center for Health Statistics were used to identify all Illinois women pregnant with singletons at 34 weeks' gestation from 1991 to 2003. The independent association between LPI (induction between 34 and 37 weeks' gestation) rates and the previous year's obstetric malpractice insurance premiums was evaluated using linear regression. The mean annual LPI rate (5.4/1000 in 1991 to 15.2/1000 in 2003, P insurance premiums ($55,480 to $110,613, P insurance premium. Rising premiums are associated with increased frequency of LPI among women with singleton gestations.

Clearwood quality and softwood lumber prices: what's the real premium?

Science.gov (United States)

Thomas R. Waggener; Roger D. Fight

1999-01-01

Diminishing quantities of appearance grade lumber and rising price premiums for it have accompanied the transition from old-growth to young-growth timber. The price premiums for better grades are an incentive for producers to undertake investments to increase the yield of those higher valued products. Price premiums, however, are also an incentive for users to...

Can large long-term investors capture illiquidity premiums

NARCIS (Netherlands)

de Jong, F.C.J.M.; Driessen, J.J.A.G.

2015-01-01

In this paper we perform a literature study to assess whether large long-term investors can benefit from liquidity premiums in different asset classes. We both describe the theoretical predictions on liquidity premiums and portfolio choice with illiquidity, as well as empirical evidence on liquidity

78 FR 7264 - Health Insurance Premium Tax Credit

Science.gov (United States)

2013-02-01

... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9611] RIN 1545-BL49 Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. SUMMARY: This document contains final regulations relating to the health insurance premium tax credit...

Puzzle Pedagogy: A Use of Riddles in Mathematics Education

Science.gov (United States)

Farnell, Elin

2017-01-01

In this article, I present a collection of puzzles appropriate for use in a variety of undergraduate courses, along with suggestions for relevant discussion. Logic puzzles and riddles have long been sources of amusement for mathematicians and the general public alike. I describe the use of puzzles in a classroom setting, and argue for their use as…

CHIP premiums, health status, and the insurance coverage of children.

Science.gov (United States)

Marton, James; Talbert, Jeffery C

2010-01-01

This study uses the introduction of premiums into Kentucky's Children's Health Insurance Program (KCHIP) to examine whether the enrollment impact of new premiums varies by child health type. We also examine the extent to which children find alternative coverage after premium nonpayment. Public insurance claims data suggest that those with chronic health conditions are less likely to leave public coverage. We find little evidence of a differential impact of premiums on enrollment among the chronically ill. Our survey of nonpayers shows that 56% of responding families found alternative private or public health coverage for their children after losing CHIP.

Famous puzzles of great mathematicians

CERN Document Server

Petković, Miodrag S

2009-01-01

This entertaining book presents a collection of 180 famous mathematical puzzles and intriguing elementary problems that great mathematicians have posed, discussed, and/or solved. The selected problems do not require advanced mathematics, making this book accessible to a variety of readers. Mathematical recreations offer a rich playground for both amateur and professional mathematicians. Believing that creative stimuli and aesthetic considerations are closely related, great mathematicians from ancient times to the present have always taken an interest in puzzles and diversions. The goal of this

Medical malpractice reform and employer-sponsored health insurance premiums.

Science.gov (United States)

Morrisey, Michael A; Kilgore, Meredith L; Nelson, Leonard Jack

2008-12-01

Tort reform may affect health insurance premiums both by reducing medical malpractice premiums and by reducing the extent of defensive medicine. The objective of this study is to estimate the effects of noneconomic damage caps on the premiums for employer-sponsored health insurance. Employer premium data and plan/establishment characteristics were obtained from the 1999 through 2004 Kaiser/HRET Employer Health Insurance Surveys. Damage caps were obtained and dated based on state annotated codes, statutes, and judicial decisions. Fixed effects regression models were run to estimate the effects of the size of inflation-adjusted damage caps on the weighted average single premiums. State tort reform laws were identified using Westlaw, LEXIS, and statutory compilations. Legislative repeal and amendment of statutes and court decisions resulting in the overturning or repealing state statutes were also identified using LEXIS. Using a variety of empirical specifications, there was no statistically significant evidence that noneconomic damage caps exerted any meaningful influence on the cost of employer-sponsored health insurance. The findings suggest that tort reforms have not translated into insurance savings.

48 CFR 2132.770 - Insurance premium payments and special contingency reserve.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Insurance premium payments... GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Contract Funding 2132.770 Insurance premium payments and special contingency reserve. Insurance premium payments and a special contingency reserve are made...

24 CFR 213.256 - Premiums; insurance upon completion.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums; insurance upon completion... HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES COOPERATIVE HOUSING MORTGAGE INSURANCE Contract Rights and Obligations-Projects § 213.256 Premiums...

The dynamics of risk premiums in Nord Pool's futures market

Energy Technology Data Exchange (ETDEWEB)

Mork, E. [Consultant, Oslo (Norway)

2006-04-15

Premiums in futures prices are usually considered through the use of 2 models: a no-arbitrage model; and the equilibrium approach or theory of normal backwardation. The no-arbitrage approach equates futures prices with spot prices, storage costs and convenience yields, and is difficult to apply to electricity markets. This paper investigated future electricity prices in Nord Pool's futures market using an equilibrium approach, which split futures prices into an expected spot price component and a risk premium component. Three main hypotheses were used: (1) that risk premiums were present in the Nord Pool futures market during the period 1997-2004; that risk premiums in the Nord Pool futures market were smaller or absent during the period of 2000 to 2002; and, that there was a significant change in risk premiums in Nord Pool's futures market after the winter of 2002-2003 due to a change in consumer hedging behaviour. Futures prices were compared to realized spot prices in their delivery periods in order to test the hypotheses. In order to estimate the futures premiums, a 1-sample test was performed on the entire period for 1, 30, 60, and 90 days before delivery of the block or month contract. The test employed the null hypothesis that the futures premiums were 0. Premiums were positive and varied between 3.7 per cent and 9.3 per cent. The purpose of the study was to determine whether risk premiums were present. Results showed that risk premiums varied over time. Two additional hypotheses were then investigated to examine whether the presence of outside speculators reduced risk premiums, and to see if a period of high prices and volatility caused more buyers to hedge in the futures market. Results showed that in the face of volatility and higher prices, consumers do not purchase fixed-price contracts which would ultimately increase futures premiums in the market. It was concluded that premiums are an important element in the pricing of Nord Pool futures and

The Profits–Leverage Puzzle Revisited

OpenAIRE

Murray Z. Frank; Vidhan K. Goyal

2015-01-01

The inverse relation between leverage and profitability is widely regarded as a serious defect of the trade-off theory. We show that the defect is not with the theory but with the use of a leverage ratio in which profitability affects both the numerator and the denominator. Profitability directly increases the value of equity. Firms do take the predicted offsetting actions. They issue debt and repurchase equity when profitability rises, and retire debt and issue equity when profitability fall...

Risk premium and insalubrity

International Nuclear Information System (INIS)

Portela, Josmael; Figueira, Rosania Lucia

2005-01-01

The risk premium and insalubrity have been widely discussed in the legal universe/labor. The social and economic impacts interfere on the right of the professional exposed to ionizing radiation to have or not additional rights. Due to the large accidents, with world repercussion, which occurred in recent times, involving workers undergoing these radiation, these professionals are receiving special attention by the competent bodies on the right or not to risk premium and insalubrity. The professional who operates equipment that emit ionising radiation, or those working directly with radioisotopes are undoubtedly under imminent risk, even if they complied with all safety requirements, thus deserving a more careful analysis by our lawyers with respect to receive additional percentages. Recent decisions of higher Courts begin to consolidate a more just and logical reasoning on the subject

24 CFR 266.610 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 266.610 Section 266.610 Housing and Urban Development Regulations Relating to Housing... MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.610 Method of payment of mortgage insurance premiums. In the cases that the Commissioner deems appropriate, the...

Difficult Sudoku Puzzles Created by Replica Exchange Monte Carlo Method

OpenAIRE

Watanabe, Hiroshi

2013-01-01

An algorithm to create difficult Sudoku puzzles is proposed. An Ising spin-glass like Hamiltonian describing difficulty of puzzles is defined, and difficult puzzles are created by minimizing the energy of the Hamiltonian. We adopt the replica exchange Monte Carlo method with simultaneous temperature adjustments to search lower energy states efficiently, and we succeed in creating a puzzle which is the world hardest ever created in our definition, to our best knowledge. (Added on Mar. 11, the ...

24 CFR 203.260 - Amount of mortgage insurance premium (periodic MIP).

Science.gov (United States)

2010-04-01

... Mortgage Insurance Premiums-Periodic Payment § 203.260 Amount of mortgage insurance premium (periodic MIP... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Amount of mortgage insurance premium (periodic MIP). 203.260 Section 203.260 Housing and Urban Development Regulations Relating to...

Risk Premium and Central Bank Intervention

OpenAIRE

Pinar Ozlu

2006-01-01

This study examines the relation between the risk premium and central bank intervention. Forward rates are calculated for the Turkish Lira-USD exchange market and then the effect of central bank intervention on the risk premium is estimated. Using high quality daily intervention data from the Central Bank of Turkey as well as implied forward rates, an MA (21)-GARCH (1,1) model is estimated. Both purchases and sales of US dollars by the Central Bank of Turkey appear to have no effect on the si...

24 CFR 251.6 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 251.6 Section 251.6 Housing and Urban Development Regulations Relating to Housing and... HOUSING PROJECTS § 251.6 Method of payment of mortgage insurance premiums. In the cases that the... affected lenders, that mortgage insurance premiums be remitted electronically. [63 FR 1303, Jan. 8, 1998] ...

24 CFR 236.252 - First, second, and third mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 236.252 Section 236.252 Housing and Urban Development Regulations Relating to Housing... insurance premiums. All of the provisions of § 207.252 of this chapter governing the first, second, and third mortgage insurance premiums shall apply to mortgages insured under this subpart, except: (a) Where...

PENGARUH KEBIJAKAN HARGA BBM, JUMLAH SEPEDA MOTOR, PENDAPATAN PERKAPITA TERHADAP KONSUMSI PREMIUM

Directory of Open Access Journals (Sweden)

Tri Atmojo

2017-06-01

Full Text Available Konsumsi BBM di Indonesia semakin meningkat karena meningkatnya pendapatan masyarakat, jumlah kendaraan bermotor di Indonesia. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh kebijakan harga BBM, kendaraan bermotor (motor, pendapatan perkapita terhadap konsumsi BBM (Premium. Objek penelitian ini adalah konsumsi BBM di Republik Indonesia kurun waktu 1985-2014. Penelitian ini menggunakan desain penelitian dengan pendekatan kuantitatif. Analisis data menggunakan analisis Regresi Linier Berganda dengan metode Ordinary Least Square (OLS. Berdasarkan hasil penelitian dapat disimpulkan bahwa kebijakan harga berpengaruh signifikan terhadap konsumsi premium, pendapatan per kapita  berpengaruh positif terhadap konsumsi premium, jumlah sepeda motor berpengaruh positif terhadap konsumsi premium, serta harga BBM, pendapatan perkapita, dan jumlah sepeda motor secara serentak berpengaruh positif terhadap konsumsi premium. Fuel consumption in Indonesia is increasing due to rising incomes, the number of motor vehicles in Indonesia. The purpose of this study was to determine the effect of fuel price policy, motor vehicles (motorcycles, per capita income on the consumption of fuel (Premium. The object of this study is the fuel consumption in the Republic of Indonesia period 1985-2014. The design of this research study with a quantitative approach. Analyzed using Multiple Linear Regression Ordinary Least Square method (OLS. Based on the results of this study concluded that the pricing policies have a significant effect on the consumption of premium, per capita income has positive influence on consumption of premium, the number of motorcycles positive effect on premium consumption, as well as fuel prices, per capita income, and the number of motorcycles simultaneously positive effect on consumption of premium.

Log-supermodularity of weight functions and the loading monotonicity of weighted insurance premiums

OpenAIRE

Hristo S. Sendov; Ying Wang; Ricardas Zitikis

2010-01-01

The paper is motivated by a problem concerning the monotonicity of insurance premiums with respect to their loading parameter: the larger the parameter, the larger the insurance premium is expected to be. This property, usually called loading monotonicity, is satisfied by premiums that appear in the literature. The increased interest in constructing new insurance premiums has raised a question as to what weight functions would produce loading-monotonic premiums. In this paper we demonstrate a...

PENENTUAN CADANGAN PREMI DENGAN METODE PREMIUM SUFFICIENCY PADA ASURANSI JIWA SEUMUR HIDUP JOINT LIFE

Directory of Open Access Journals (Sweden)

NI PUTU MIRAH PERMATASARI

2016-08-01

Full Text Available The aim of this research was to get the formula of premium reserves through the premium sufficiency method. Premium reserve is the amount of fund that is collected by the insurance company in preparation for the claim’s payment. Premium sufficiency method is gross premium calculation. To construct that formula, this research used Tabel Mortalitas Indonesia (TMI 2011, interest rate 2.5% and cost of alpha %. Based on simulation result in men premium reserve value of age 1 of 56 years propotional with insured periods, but after56 years enhancement of premium reserve value.

Health insurance premium tax credit. Final regulations.

Science.gov (United States)

2013-02-01

This document contains final regulations relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.These final regulations provide guidance to individuals related to employees who may enroll in eligible employer-sponsored coverage and who wish to enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the premium tax credit.

CROSSWORD PUZZLE INCREASE ATTENTION OF CHILDREN WITH ADHD

Directory of Open Access Journals (Sweden)

Ah. Yusuf

2017-07-01

Full Text Available Introduction: Attention deficit is one of three main problems of children with Attention Deficit Hyperactivity Disorder (ADHD. Children experience difficulty of paying attention and concentrating to one or more things or objects. As a results these children cannot perform the task well. Crossword puzzle is one of games that may increase attention and concentration. The aim of this study was to analyze the effect of crossword puzzle to increase attention of children with ADHD. Method: Pre-experimental design was employed in this study. The population was ADHD students in Cakra Autisme Therapy. Seven students were recruited by means of purposive sampling. The independent variable was crossword puzzle and the dependent variable was the increase of attention. Data were collected using observation sheet and analyzed using Wilcoxon Signed Rank Test with level of significance of α≤ 0.05. Result: Result showed that crossword puzzle could increase attention. Respondent’s attention improved from less to good attention, particularly in playing activities (p=0.014. Analysis: This finding suggests that there was differences of attention between pre and post-test. It can be concluded that crossword puzzle can increase attention of the students with ADHD. Discussion: It is recommended for teachers and parents of ADHD children to give them crossword puzzle game everyday at school or at home. Further studies should involve larger sample size and employs another game not only to increase attention, but also reduce hyperactivity and impulsivity of ADHD child.

Evaluation of the three-nucleon analyzing power puzzle

International Nuclear Information System (INIS)

Tornow, W.; Witala, H.

1998-01-01

The current status of the three-nucleon analyzing power puzzle is reviewed. Applying tight constraints on the allowed deviations between calculated predictions and accepted values for relevant nucleon-nucleon observables reveals that energy independent correction factors applied to the 3 P j nucleon-nucleon interactions can not solve the puzzle. Furthermore, using the same constraints, charge-independence breaking in the 3 P j nucleon-nucleon interactions can be ruled out as a possible tool to improve the agreement between three-nucleon calculations and data. The study of the energy dependence of the three-nucleon analyzing power puzzle gives clear evidence that the 3 P j nucleon-nucleon interaction obtained from phase-shift analyses and used in potential models are correct above about 25 MeV, i.e., the 3 P j nucleon-nucleon interactions have to be modified only at lower energies in order to solve the three-nucleon analyzing power puzzle, unless new three-nucleon forces can be found that account for the three-nucleon analyzing power puzzle without destroying the beautiful agreement between rigorous three-nucleon calculations and a large body of accurate three-nucleon data. (orig.)

Evaluation of the three-nucleon analyzing power puzzle

Energy Technology Data Exchange (ETDEWEB)

Tornow, W. [Duke Univ., Durham, NC (United States). Dept. of Physics]|[Triangle Univ. Nuclear Lab., Durham, NC (United States); Witala, H. [Uniwersytet Jagiellonski, Cracow (Poland). Inst. Fizyki

1998-07-20

The current status of the three-nucleon analyzing power puzzle is reviewed. Applying tight constraints on the allowed deviations between calculated predictions and accepted values for relevant nucleon-nucleon observables reveals that energy independent correction factors applied to the {sup 3}P{sub j} nucleon-nucleon interactions can not solve the puzzle. Furthermore, using the same constraints, charge-independence breaking in the {sup 3}P{sub j} nucleon-nucleon interactions can be ruled out as a possible tool to improve the agreement between three-nucleon calculations and data. The study of the energy dependence of the three-nucleon analyzing power puzzle gives clear evidence that the {sup 3}P{sub j} nucleon-nucleon interaction obtained from phase-shift analyses and used in potential models are correct above about 25 MeV, i.e., the {sup 3}P{sub j} nucleon-nucleon interactions have to be modified only at lower energies in order to solve the three-nucleon analyzing power puzzle, unless new three-nucleon forces can be found that account for the three-nucleon analyzing power puzzle without destroying the beautiful agreement between rigorous three-nucleon calculations and a large body of accurate three-nucleon data. (orig.) 18 refs.

A Resolution of the Purchasing Power Parity Puzzle

DEFF Research Database (Denmark)

Frydman, Roman; Goldberg, Michael D.; Johansen, Søren

Asset prices undergo long swings that revolve around benchmark levels. In currency markets, fluctuations involve real exchange rates that are highly persistent and that move in near-parallel fashion with nominal rates. The inability to explain these two regularities with one model has been called...... the "Purchasing Power Parity puzzle". In this paper, we trace the puzzle to exchange rate modelers' use of the "Rational Expectations Hypothesis". We show that once imperfect knowledge is recognized, a monetary model is able to account for the puzzle, as well as other salient features of the data, including...

Plan–Provider Integration, Premiums, and Quality in the Medicare Advantage Market

Science.gov (United States)

Frakt, Austin B; Pizer, Steven D; Feldman, Roger

2013-01-01

Objective. To investigate how integration between Medicare Advantage plans and health care providers is related to plan premiums and quality ratings. Data Source. We used public data from the Centers for Medicare and Medicaid Services (CMS) and the Area Resource File and private data from one large insurer. Premiums and quality ratings are from 2009 CMS administrative files and some control variables are historical. Study Design. We estimated ordinary least-squares models for premiums and plan quality ratings, with state fixed effects and firm random effects. The key independent variable was an indicator of plan–provider integration. Data Collection. With the exception of Medigap premium data, all data were publicly available. We ascertained plan–provider integration through examination of plans’ websites and governance documents. Principal Findings. We found that integrated plan–providers charge higher premiums, controlling for quality. Such plans also have higher quality ratings. We found no evidence that integration is associated with more generous benefits. Conclusions. Current policy encourages plan–provider integration, although potential effects on health insurance products and markets are uncertain. Policy makers and regulators may want to closely monitor changes in premiums and quality after integration and consider whether quality improvement (if any) justifies premium increases (if they occur). PMID:23800017

Plan-provider integration, premiums, and quality in the Medicare Advantage market.

Science.gov (United States)

Frakt, Austin B; Pizer, Steven D; Feldman, Roger

2013-12-01

To investigate how integration between Medicare Advantage plans and health care providers is related to plan premiums and quality ratings. We used public data from the Centers for Medicare and Medicaid Services (CMS) and the Area Resource File and private data from one large insurer. Premiums and quality ratings are from 2009 CMS administrative files and some control variables are historical. We estimated ordinary least-squares models for premiums and plan quality ratings, with state fixed effects and firm random effects. The key independent variable was an indicator of plan-provider integration. With the exception of Medigap premium data, all data were publicly available. We ascertained plan-provider integration through examination of plans' websites and governance documents. We found that integrated plan-providers charge higher premiums, controlling for quality. Such plans also have higher quality ratings. We found no evidence that integration is associated with more generous benefits. Current policy encourages plan-provider integration, although potential effects on health insurance products and markets are uncertain. Policy makers and regulators may want to closely monitor changes in premiums and quality after integration and consider whether quality improvement (if any) justifies premium increases (if they occur). © Health Research and Educational Trust.

PENENTUAN CADANGAN PREMI DENGAN METODE PREMIUM SUFFICIENCY PADA ASURANSI JIWA SEUMUR HIDUP JOINT LIFE

OpenAIRE

NI PUTU MIRAH PERMATASARI; I NYOMAN WIDANA; KARTIKA SARI

2016-01-01

The aim of this research was to get the formula of premium reserves through the premium sufficiency method. Premium reserve is the amount of fund that is collected by the insurance company in preparation for the claim’s payment. Premium sufficiency method is gross premium calculation. To construct that formula, this research used Tabel Mortalitas Indonesia (TMI) 2011, interest rate 2.5% and cost of alpha %. Based on simulation result in men premium reserve value of age 1 of 56 years propotio...

Algorithmic Puzzles: History, Taxonomies, and Applications in Human Problem Solving

Science.gov (United States)

Levitin, Anany

2017-01-01

The paper concerns an important but underappreciated genre of algorithmic puzzles, explaining what these puzzles are, reviewing milestones in their long history, and giving two different ways to classify them. Also covered are major applications of algorithmic puzzles in cognitive science research, with an emphasis on insight problem solving, and…

The impact of CHIP premium increases on insurance outcomes among CHIP eligible children.

Science.gov (United States)

Nikolova, Silviya; Stearns, Sally

2014-03-03

Within the United States, public insurance premiums are used both to discourage private health policy holders from dropping coverage and to reduce state budget costs. Prior research suggests that the odds of having private coverage and being uninsured increase with increases in public insurance premiums. The aim of this paper is to test effects of Children's Health Insurance Program (CHIP) premium increases on public insurance, private insurance, and uninsurance rates. The fact that families just below and above a state-specific income cut-off are likely very similar in terms of observable and unobservable characteristics except the premium contribution provides a natural experiment for estimating the effect of premium increases. Using 2003 Medical Expenditure Panel Survey (MEPS) merged with CHIP premiums, we compare health insurance outcomes for CHIP eligible children as of January 2003 in states with a two-tier premium structure using a cross-sectional regression discontinuity methodology. We use difference-in-differences analysis to compare longitudinal insurance outcomes by December 2003. Higher CHIP premiums are associated with higher likelihood of private insurance. Disenrollment from CHIP in response to premium increases over time does not increase the uninsurance rate. When faced with higher CHIP premiums, private health insurance may be a preferable alternative for CHIP eligible families with higher incomes. Therefore, competition in the insurance exchanges being formed under the Affordable Care Act could enhance choice.

24 CFR 236.253 - Premiums-operating loss loans.

Science.gov (United States)

2010-04-01

... Obligations for Mortgage Insurance § 236.253 Premiums—operating loss loans. All of the provisions of § 207.252a of this chapter relating to mortgage insurance premiums on operating loss loans shall apply to... Act the mortgage insurance premiums due in accordance with § 207.252a shall be calculated on the basis...

Differing Impacts Of Market Concentration On Affordable Care Act Marketplace Premiums.

Science.gov (United States)

Scheffler, Richard M; Arnold, Daniel R; Fulton, Brent D; Glied, Sherry A

2016-05-01

Recent increases in market concentration among health plans, hospitals, and medical groups raise questions about what impact such mergers are having on costs to consumers. We examined the impact of market concentration on the growth of health insurance premiums between 2014 and 2015 in two Affordable Care Act state-based Marketplaces: Covered California and NY State of Health. We measured health plan, hospital, and medical group market concentration using the well-known Herfindahl-Hirschman Index (HHI) and used a multivariate regression model to relate these measures to premium growth. Both states exhibited a positive association between hospital concentration and premium growth and a positive (but not statistically significant) association between medical group concentration and premium growth. Our results for health plan concentration differed between the two states: It was positively associated with premium growth in New York but negatively associated with premium growth in California. The health plan concentration finding in Covered California may be the result of its selectively contracting with health plans. Project HOPE—The People-to-People Health Foundation, Inc.

Idiosyncratic Volatility Puzzle

DEFF Research Database (Denmark)

Aslanidis, Nektarios; Christiansen, Charlotte; Lambertides, Neophytos

from a large pool of macroeconomic and Önancial variables. Cleaning for macro-Önance e§ects reverses the puzzling negative relation between returns and idiosyncratic volatility documented previously. Portfolio analysis shows that the e§ects from macro-Önance factors are economically strong...

Employer choices of family premium sharing.

Science.gov (United States)

Vistnes, Jessica Primoff; Morrisey, Michael A; Jensen, Gail A

2006-03-01

In 1997, nearly two-thirds of married couples with children under age 18 were dual-earner couples. Such families may have a variety of insurance options available to them. If so, declining a high employee premium contribution may be a mechanism for one spouse to take money wages in lieu of coverage while the other spouse takes coverage rather than high wages. Employers may use these preferences and the size of premium contributions to encourage workers to obtain family coverage through their spouse. The purpose of this paper is to explore the effects of labor force composition, particularly the proportion of dual-earner couples in the labor market, on the marginal employee premium contribution (marginal EPC) for family coverage. We analyze data from the 1997-2001 Medical Expenditure Panel Survey--Insurance Component (MEPS-IC) List Sample of private establishments. We find strong evidence that the marginal EPC for family coverage is higher when there is a larger concentration of women in the workforce, but only in markets with a higher proportion of dual-earner households.

What drives insurer participation and premiums in the Federally-Facilitated Marketplace?

Science.gov (United States)

Abraham, Jean Marie; Drake, Coleman; McCullough, Jeffrey S; Simon, Kosali

2017-12-01

We investigate determinants of market entry and premiums within the context of the Affordable Care Act's Marketplaces for individual insurance. Using Bresnahan and Reiss (1991) as the conceptual framework, we study how competition and firm heterogeneity relate to premiums in 36 states using Federally Facilitated or Supported Marketplaces in 2016. Our primary data source is the Qualified Health Plan Landscape File, augmented with market characteristics from the American Community Survey and Area Health Resource File as well as insurer-level information from federal Medical Loss Ratio annual reports. We first estimate a model of insurer entry and then investigate the relationship between a market's predicted number of entrants and insurer-level premiums. Our entry model results suggest that competition is increasing with the number of insurers, most notably as the market size increases from 3 to 4 entrants. Results from the premium regression suggest that each additional entrant is associated with approximately 4% lower premiums, controlling for other factors. An alternative explanation for the relationship between entrants and premiums is that more efficient insurers (who can price lower) are the ones that enter markets with many entrants, and this is reflected in lower premiums. An exploratory analysis of insurers' non-claims costs (a proxy for insurer efficiency) reveals that average costs among entrants are rising slightly with the number of insurers in the market. This pattern does not support the hypothesis that premiums decrease with more entrants because those entrants are more efficient, suggesting instead that the results are being driven mostly by price competition.

The Effect of Massachusetts' Health Reform on Employer-Sponsored Insurance Premiums.

Science.gov (United States)

Cogan, John F; Hubbard, R Glenn; Kessler, Daniel

2010-01-01

In this paper, we use publicly available data from the Medical Expenditure Panel Survey - Insurance Component (MEPS-IC) to investigate the effect of Massachusetts' health reform plan on employer-sponsored insurance premiums. We tabulate premium growth for private-sector employers in Massachusetts and the United States as a whole for 2004 - 2008. We estimate the effect of the plan as the difference in premium growth between Massachusetts and the United States between 2006 and 2008-that is, before versus after the plan-over and above the difference in premium growth for 2004 to 2006. We find that health reform in Massachusetts increased single-coverage employer-sponsored insurance premiums by about 6 percent, or $262. Although our research design has important limitations, it does suggest that policy makers should be concerned about the consequences of health reform for the cost of private insurance.

Optimal Premium Pricing for a Heterogeneous Portfolio of Insurance Risks

OpenAIRE

Pantelous, Athanasios A.; Frangos, Nicholas E.; Zimbidis, Alexandros A.

2009-01-01

The paper revisits the classical problem of premium rating within a heterogeneous portfolio of insurance risks using a continuous stochastic control framework. The portfolio is divided into several classes where each class interacts with the others. The risks are modelled dynamically by the means of a Brownian motion. This dynamic approach is also transferred to the design of the premium process. The premium is not constant but equals the drift of the Brownian motion plus a controlled percent...

Teaching the Blue-Eyed Islanders Puzzle in a Liberal Arts Mathematics Course

Science.gov (United States)

Shea, Stephen

2012-01-01

The blue-eyed islanders puzzle is an old and challenging logic puzzle. This is a narrative of an experience introducing a variation of this puzzle on the first day of classes in a liberal arts mathematics course for non-majors. I describe an exercise that was used to facilitate the class's understanding of the puzzle.

24 CFR 266.606 - Mortgage insurance premium: Duration and method of paying.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Mortgage insurance premium... AFFORDABLE MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Mortgage Insurance Premiums § 266.606 Mortgage insurance premium: Duration and method of paying. (a) Duration of payments. Mortgage insurance...

Sampling Random Bioinformatics Puzzles using Adaptive Probability Distributions

DEFF Research Database (Denmark)

Have, Christian Theil; Appel, Emil Vincent; Bork-Jensen, Jette

2016-01-01

We present a probabilistic logic program to generate an educational puzzle that introduces the basic principles of next generation sequencing, gene finding and the translation of genes to proteins following the central dogma in biology. In the puzzle, a secret "protein word" must be found by asse...

Price premium of organic salmon in Danish retail sale

DEFF Research Database (Denmark)

Ankamah Yeboah, Isaac; Nielsen, Max; Nielsen, Rasmus

2016-01-01

for organic salmon in Danish retail sale using consumer panel scanner data from households by applying a random effect hedonic price model that permits unobserved household heterogeneity. A price premium of 20% was identified for organic salmon. The magnitude of this premium is comparable to organic labeled...

77 FR 41048 - Health Insurance Premium Tax Credit; Correction

Science.gov (United States)

2012-07-12

... the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9590] RIN 1545-BJ82 Health Insurance Premium Tax Credit; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION...

Premium growth and its effect on employer-sponsored insurance.

Science.gov (United States)

Vistnes, Jessica; Selden, Thomas

2011-03-01

We use variation in premium inflation and general inflation across geographic areas to identify the effects of downward nominal wage rigidity on employers' health insurance decisions. Using employer level data from the 2000 to 2005 Medical Expenditure Panel Survey-Insurance Component, we examine the effect of premium growth on the likelihood that an employer offers insurance, eligibility rates among employees, continuous measures of employee premium contributions for both single and family coverage, and deductibles. We find that small, low-wage employers are less likely to offer health insurance in response to increased premium inflation, and if they do offer coverage they increase employee contributions and deductible levels. In contrast, larger, low-wage employers maintain their offers of coverage, but reduce eligibility for such coverage. They also increase employee contributions for single and family coverage, but not deductibles. Among high-wage employers, all but the largest increase deductibles in response to cost pressures.

Interdependence of life insurance service quality and premium

Directory of Open Access Journals (Sweden)

Dragan Benazić

2006-12-01

Full Text Available Insurance companies in Croatia feel the need to find new sources of competitive advantage on the Croatian life insurance market amid increasing competition and a poorly profiled offer of life insurance services. Lately, both marketing literature and practice seem to point to the shaping of a relationship between service quality and price as a possible solution to improving the position of insurance companies on the Croatian market. In providing life insurance services, the insurance companies should focus on the quality elements that offer certain benefits a client is willing to pay for. Changes in individual quality features have been evaluated differently by clients. Such differences in their evaluation of changes in the individual elements of service quality also reflect the willingness of clients to pay a suitable increase on their insurance premium. Improvements in the service quality features that are subjectively evaluated as important should lead to the client’s acceptance of a higher life insurance premium. The paper considers the interdependence between the quality of life insurance services and the premium from the aspect of the client’s willingness to pay a higher life insurance premium for a higher service quality.

24 CFR 203.22 - Payment of insurance premiums or charges; prepayment privilege.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Payment of insurance premiums or... Underwriting Procedures Eligible Mortgages § 203.22 Payment of insurance premiums or charges; prepayment privilege. (a) Payment of periodic insurance premiums or charges. Except with respect to mortgages for which...

26 CFR 1.848-2 - Determination of net premiums.

Science.gov (United States)

2010-04-01

... reinsurance agreements with parties not subject to United States taxation) are treated separately and are... consideration includes— (i) Advance premiums; (ii) Amounts in a premium deposit fund or similar account, to the... parties not subject to United States taxation. (2) Net consideration determined by a ceding company—(i) In...

31 CFR 337.13 - Payment of mortgage insurance premiums.

Science.gov (United States)

2010-07-01

... insurance premiums. When book-entry debentures are being purchased prior to maturity to pay for mortgage insurance premiums, the difference between the amount of the debentures purchased and the mortgage insurance... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Payment of mortgage insurance...

TESTING FOR RISK PREMIUMS IN THE WHEAT-FLOUR SUBSECTOR

OpenAIRE

Cotterill, Ronald W.; Salih, Hachim M.

1992-01-01

This paper specifies a model of wholesale flour price determination that incorporates risk measures for input prices (wheat) and a joint output price (millfeed). Tests using daily price data for a Buffalo flour miller indicate that risk premiums do exist. Moreover, these premiums persist in a model that incorporates hedging.

Incomplete Puzzle

Science.gov (United States)

2006-01-01

15 April 2006 This Mars Global Surveyor (MGS) Mars Orbiter Camera (MOC) image shows a mid-summer view of a portion of the south polar residual cap of Mars. The large, relatively flat-lying, puzzle-like pieces in this scene are mesas composed largely of solid carbon dioxide. Location near: 85.5oS, 76.8oW Image width: 3 km (1.9 mi) Illumination from: upper left Season: Southern Summer

Decreasing relative risk premium

DEFF Research Database (Denmark)

Hansen, Frank

2007-01-01

such that the corresponding relative risk premium is a decreasing function of present wealth, and we determine the set of associated utility functions. We find a new characterization of risk vulnerability and determine a large set of utility functions, closed under summation and composition, which are both risk vulnerable...

Three Modes of Hydrogeophysical Investigation: Puzzles, Mysteries, and Conundrums

Science.gov (United States)

Ferre, P. A.

2011-12-01

In an article in the New Yorker in 2007, Malcolm Gladwell discussed the distinction that national security expert Gregory Treverton has made between puzzles and mysteries. Specifically, puzzles are problems that we understand and that will eventually be solved when we amass enough information. (Think crossword puzzles.) Mysteries are problems for which we have the necessary information, but it is often overwhelmed by irrelevant or misleading input. To solve a mystery, we require improved analysis. (Think find-a-word.) Gladwell goes on to explain that, in the national security realm, the Cold War was a puzzle while the current national security condition is a mystery. I will discuss the past, current, and future trajectories of hydrogeophysics in terms of puzzles and mysteries. I will also add a third class of problem: conundrums - those for which we lack sufficient information about their structure to know how to solve them. A conundrum is a mystery with an unexpected twist. I hope to make the case that the future growth of hydrogeophysics lies in our ability to address this more challenging and more interesting class of problem.

Equity Versus Non-Equity International Strategic Alliances

DEFF Research Database (Denmark)

Globerman, Steven; Nielsen, Bo Bernhard

A substantial literature has evolved focusing on the ownership structure of international strategic alliances (ISAs). Most of the relevant studies are theoretical in nature and concentrate on the conceptual factors that influence the choice between equity and non-equity structures. A smaller numb...... involving Danish firms. Our study documents how the determinants of governance mode choice vary in importance depending upon the "quality" of the governance infrastructure of the host country....

A Puzzle Used to Teach the Cardiac Cycle

Science.gov (United States)

Marcondes, Fernanda K.; Moura, Maria J. C. S.; Sanches, Andrea; Costa, Rafaela; Oliveira de Lima, Patricia; Groppo, Francisco Carlos; Amaral, Maria E. C.; Zeni, Paula; Gaviao, Kelly Cristina; Montrezor, Luís H.

2015-01-01

The aim of the present article is to describe a puzzle developed for use in teaching cardiac physiology classes. The puzzle presents figures of phases of the cardiac cycle and a table with five columns: phases of cardiac cycle, atrial state, ventricular state, state of atrioventricular valves, and pulmonary and aortic valves. Chips are provided…

The B→πK puzzle and supersymmetry

International Nuclear Information System (INIS)

Imbeault, Maxime; Baek, Seungwon; London, David

2008-01-01

At present, there are discrepancies between the measurements of several observables in B→πK decays and the predictions of the Standard Model (the 'B→πK puzzle'). Although the effect is not yet statistically significant-it is at the level of ≥3σ-it does hint at the presence of new physics. In this Letter, we explore whether supersymmetry (SUSY) can explain the B→πK puzzle. In particular, we consider the SUSY model of Grossman, Neubert and Kagan (GNK). We find that it is extremely unlikely that GNK explains the B→πK data. We also find a similar conclusion in many other models of SUSY. And there are serious criticisms of the two SUSY models that do reproduce the B→πK data. If the B→πK puzzle remains, it could pose a problem for SUSY models

Examining equity: a multidimensional framework for assessing equity in payments for ecosystem services

OpenAIRE

McDermott, Melanie; Mahanty, Sango; Schreckenberg, Kathrin

2012-01-01

Concern over social equity dominates current debates about payments for ecosystem services and reduced deforestation and forest degradation (REDD+). Yet, despite the apprehension that these initiatives may undermine equity, the term is generally left undefined. This paper presents a systematic framework for the analysis of equity that can be used to examine how local equity is affected as the global value of ecosystem services changes. Our framework identifies three dimensions that form the c...

The Entrepreneurial Earnings Puzzle

DEFF Research Database (Denmark)

Chen, Jing; Åstebro, Thomas

2014-01-01

A review of recent evidence on relative earnings from entrepreneurship versus wage work presents a puzzle: why do individuals become entrepreneurs when entrepreneurs on average apparently earn less than employees? After considering several potential explanations, we empirically analyze one: income...

MODEL PERAMALAN KONSUMSI BAHAN BAKAR JENIS PREMIUM DI INDONESIA DENGAN REGRESI LINIER BERGANDA

Directory of Open Access Journals (Sweden)

Farizal

2014-12-01

Full Text Available Energy consumption forecasting, especially premium, is an integral part of energy management. Premium is a type of energy that receives government subsidy. Unfortunately, premium forecastings being performed have considerable high error resulting difficulties on reaching planned subsidy target and exploding the amount. In this study forecasting was conducted using multilinear regression (MLR method with ten candidate predictor variables. The result shows that only four variables which are inflation, selling price disparity between pertamanx and premium, economic growth rate, and the number of car, dictate premium consumption. Analsys on the MLR model indicates that the model has a considerable low error with the mean absolute percentage error (MAPE of 5.18%. The model has been used to predict 2013 primium consumption with 1.05% of error. The model predicted that 2013 premium consumption was 29.56 million kiloliter, while the reality was 29.26 million kiloliter.

5 CFR 890.502 - Withholdings, contributions, LWOP, premiums, and direct premium payment.

Science.gov (United States)

2010-01-01

... amount equal to the premiums for a pay period during which the employee was in a leave without pay (LWOP... for every pay period during which the enrollment continues, except for the 31-day temporary extension... 365 days. (1) An employee who is granted leave without pay (LWOP) under subpart L of part 630 of this...

Decoding Codewords: Statistical Analysis of a Newspaper Puzzle

Science.gov (United States)

Meacock, Susan; Meacock, Geoff

2012-01-01

In recent years English newspapers have started featuring a number of puzzles other than the ubiquitous crossword. Many of the puzzles are of Japanese origin such as Sudoku, Kakuro or Hidato. However, one recent one is very English and is called variously Cross-code, Alphapuzzle or some other name. In this article, it will be known as Codeword.…

Equity yields

NARCIS (Netherlands)

Vrugt, E.; van Binsbergen, J.H.; Koijen, R.S.J.; Hueskes, W.

2013-01-01

We study a new data set of dividend futures with maturities up to ten years across three world regions: the US, Europe, and Japan. We use these asset prices to construct equity yields, analogous to bond yields. We decompose the equity yields to obtain a term structure of expected dividend growth

75 FR 9247 - Single Family Mortgage Insurance Premium, Single Family

Science.gov (United States)

2010-03-01

... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5376-N-13] Single Family Mortgage Insurance Premium, Single Family AGENCY: Office of the Chief Information Officer, HUD. ACTION: Notice... is soliciting public comments on the subject proposal. Lenders use the Single Family Premium...

29 CFR 778.204 - “Clock pattern” premium pay.

Science.gov (United States)

2010-07-01

... 29 Labor 3 2010-07-01 2010-07-01 false âClock patternâ premium pay. 778.204 Section 778.204 Labor... Excluded From the âRegular Rateâ Extra Compensation Paid for Overtime § 778.204 “Clock pattern” premium pay... pursuance of an applicable employment contract or collective bargaining agreement,” and the rates of pay and...

Fixed-premium deposit insurance and international credit crunches

OpenAIRE

Mark M. Spiegel

1996-01-01

This article introduces a monopolistically competitive model of foreign lending in which both explicit and implicit fixed-premium deposit insurance increase the degree to which bank participation in relending to problem debtors falls below its globally optimal level. This provides a channel for fixed-premium deposit insurance to inhibit credit extension in bad states, resulting in an increase in the expected default percentage and an increase in the expected burden on the deposit insurance in...

Mating motives are neither necessary nor sufficient to create the beauty premium.

Science.gov (United States)

Hafenbrädl, Sebastian; Dana, Jason

2017-01-01

Mating motives lead decision makers to favor attractive people, but this favoritism is not sufficient to create a beauty premium in competitive settings. Further, economic approaches to discrimination, when correctly characterized, could neatly accommodate the experimental and field evidence of a beauty premium. Connecting labor economics and evolutionary psychology is laudable, but mating motives do not explain the beauty premium.

Making Peer-Assisted Content Distribution Robust to Collusion Using Bandwidth Puzzles

Science.gov (United States)

Reiter, Michael K.; Sekar, Vyas; Spensky, Chad; Zhang, Zhenghao

Many peer-assisted content-distribution systems reward a peer based on the amount of data that this peer serves to others. However, validating that a peer did so is, to our knowledge, an open problem; e.g., a group of colluding attackers can earn rewards by claiming to have served content to one another, when they have not. We propose a puzzle mechanism to make contribution-aware peer-assisted content distribution robust to such collusion. Our construction ties solving the puzzle to possession of specific content and, by issuing puzzle challenges simultaneously to all parties claiming to have that content, our mechanism prevents one content-holder from solving many others' puzzles. We prove (in the random oracle model) the security of our scheme, describe our integration of bandwidth puzzles into a media streaming system, and demonstrate the resulting attack resilience via simulations.

Customer Equity von KMUs

NARCIS (Netherlands)

Biemel, Friedhelm W.; Henseler, Jörg; Meyer, Jorn-Axel

2003-01-01

Customer relationships are most important assets of many SMEs. Customer Equity is the sum of the values of all customer relationships. Customer Equity will not be found in any balance sheet, nevertheless it has strategic importance. Even if companies do not want to publish their Customer Equity for

26 CFR 1.163-11T - Allocation of certain prepaid qualified mortgage insurance premiums (temporary).

Science.gov (United States)

2010-04-01

... insurance premiums (temporary). 1.163-11T Section 1.163-11T Internal Revenue INTERNAL REVENUE SERVICE... insurance premiums (temporary). (a) Allocation—(1) In general. As provided in section 163(h)(3)(E), premiums... section applies whether the qualified mortgage insurance premiums are paid in cash or are financed...

Setting priorities for knowledge translation of Cochrane reviews for health equity: Evidence for Equity.

Science.gov (United States)

Tugwell, Peter; Petkovic, Jennifer; Welch, Vivian; Vincent, Jennifer; Bhutta, Zulfiqar A; Churchill, Rachel; deSavigny, Don; Mbuagbaw, Lawrence; Pantoja, Tomas

2017-12-02

A focus on equity in health can be seen in many global development goals and reports, research and international declarations. With the development of a relevant framework and methods, the Campbell and Cochrane Equity Methods Group has encouraged the application of an 'equity lens' to systematic reviews, and many organizations publish reviews intended to address health equity. The purpose of the Evidence for Equity (E4E) project was to conduct a priority-setting exercise and apply an equity lens by developing a knowledge translation product comprising summaries of systematic reviews from the Cochrane Library. E4E translates evidence from systematic reviews into 'friendly front end' summaries for policy makers. The following topic areas with high burdens of disease globally, were selected for the pilot: diabetes/obesity, HIV/AIDS, malaria, nutrition, and mental health/depression. For each topic area, a "stakeholder panel" was assembled that included policymakers and researchers. A systematic search of Cochrane reviews was conducted for each area to identify equity-relevant interventions with a meaningful impact. Panel chairs developed a rating sheet which was used by all panels to rank the importance of these interventions by: 1) Ease of Implementation; 2) Health System Requirements; 3)Universality/Generalizability/Share of Burden; and 4) Impact on Inequities/Effect on equity. The ratings of panel members were averaged for each intervention and criterion, and interventions were ordered according to the average overall ratings. Stakeholder panels identified the top 10 interventions from their respective topic areas. The evidence on these interventions is being summarized with an equity focus and the results posted online, at http://methods.cochrane.org/equity/e4e-series . This method provides an explicit approach to setting priorities by systematic review groups and funders for providing decision makers with evidence for the most important equity

The impact of HMO competition on private health insurance premiums, 1985-1992.

Science.gov (United States)

Wickizer, T M; Feldstein, P J

1995-01-01

A critical unresolved health policy question is whether competition stimulated by managed care organizations can slow the rate of growth in health care expenditures. We analyzed the competitive effects of health maintenance organizations (HMOs) on the growth in fee-for-service indemnity insurance premiums over the period 1985-1992 using premium data on 95 groups that had policies with a single, large, private insurance carrier. We used multiple regressions to estimate the effect of HMO market penetration on insurance premium growth rates. HMO penetration had a statistically significant (p market whose HMO penetration rate increased by 25% (e.g., from 10% to 12.5%), the real rate of growth in premiums would be approximately 5.9% instead of 7.0%. Our findings indicate that competitive strategies, relying on managed care, have significant potential to reduce health insurance premium growth rates, thereby resulting in substantial cost savings over time.

The impact of instant reward programs and bonus premiums on consumer purchase behavior

NARCIS (Netherlands)

Minnema, Alec; Bijmolt, Tammo H. A.; Non, Marielle C.

This study examines the impact of an instant reward program (IRP) with bonus premiums on consumer purchase behavior. An IRP is a rapidly growing form of short-term program that rewards consumers instantly with small premiums per fixed spending, where these premiums are part of a larger set of

5 CFR 892.301 - How do I pay my premium?

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false How do I pay my premium? 892.301 Section 892.301 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Contributions and...

Current puzzles and future possibilities

International Nuclear Information System (INIS)

Nagamiya, S.

1982-02-01

Four current puzzles and several future experimental possibilities in high-energy nuclear collision research are discussed. These puzzles are (1) entropy, (2) hydrodynamic flow, (3) anomalon, and (4) particle emission at backward angles in proton-nucleus collisions. The last one seems not to be directly related to the subject of the present school. But it is, because particle emission into the region far beyond the nucleon-nucleon kinematical limit is an interesting subject common for both proton-nucleus and nucleus-nucleus collisions, and the basic mechanism involved is strongly related in these two cases. Future experimental possibilities are described which include: (1) possibilities of studying multibaryonic excited states, (2) applications of neutron-rich isotopes, and (3) other needed experimental tasks. 72 references

The Phantom Gender Difference in the College Wage Premium

Science.gov (United States)

Hubbard, William H. J.

2011-01-01

A growing literature seeks to explain why so many more women than men now attend college. A commonly cited stylized fact is that the college wage premium is, and has been, higher for women than for men. After identifying and correcting a bias in estimates of college wage premiums, I find that there has been essentially no gender difference in the…

The marriage premium and compensating wage differentials.

Science.gov (United States)

Reed, W R; Harford, K

1989-12-01

This paper proposes and tests an alternative explanation of the marriage premium that relies upon differences in workers' tastes and compensating wage differentials. A key assumption is that marital status proxies for the consumption of family goods, such as children, and that these are costly. Workers whose greater demands for family goods are taste- generated and shown to choose jobs that offer greater wage, and less non-pecuniary compensation. This creates an observed wage premium that has nothing to do with differences in workers' productivities. Supporting empirical evidence for this hypothesis is presented, including a reevaluation of previous studies.

Crossword Puzzles as Learning Tools in Introductory Soil Science

Science.gov (United States)

Barbarick, K. A.

2010-01-01

Students in introductory courses generally respond favorably to novel approaches to learning. To this end, I developed and used three crossword puzzles in spring and fall 2009 semesters in Introductory Soil Science Laboratory at Colorado State University. The first hypothesis was that crossword puzzles would improve introductory soil science…

Enhancing conservation, ecosystem services, and local livelihoods through a wildlife premium mechanism.

Science.gov (United States)

Dinerstein, Eric; Varma, Keshav; Wikramanayake, Eric; Powell, George; Lumpkin, Susan; Naidoo, Robin; Korchinsky, Mike; Del Valle, Christian; Lohani, Shubash; Seidensticker, John; Joldersma, Dirk; Lovejoy, Thomas; Kushlin, Andrey

2013-02-01

We propose the wildlife premium mechanism as an innovation to conserve endangered large vertebrates. The performance-based payment scheme would allow stakeholders in lower-income countries to generate revenue by recovering and maintaining threatened fauna that can also serve as umbrella species (i.e., species whose protection benefits other species with which they co-occur). There are 3 possible options for applying the premium: option 1, embed premiums in a carbon payment; option 2, link premiums to a related carbon payment, but as independent and legally separate transactions; option 3, link premiums to noncarbon payments for conserving ecosystem services (PES). Each option presents advantages, such as incentive payments to improve livelihoods of rural poor who reside in or near areas harboring umbrella species, and challenges, such as the establishment of a subnational carbon credit scheme. In Kenya, Peru, and Nepal pilot premium projects are now underway or being finalized that largely follow option 1. The Kasigau (Kenya) project is the first voluntary carbon credit project to win approval from the 2 leading groups sanctioning such protocols and has already sold carbon credits totaling over $1.2 million since June 2011. A portion of the earnings is divided among community landowners and projects that support community members and has added over 350 jobs to the local economy. All 3 projects involve extensive community management because they occur on lands where locals hold the title or have a long-term lease from the government. The monitoring, reporting, and verification required to make premium payments credible to investors include transparent methods for collecting data on key indices by trained community members and verification of their reporting by a biologist. A wildlife premium readiness fund would enable expansion of pilot programs needed to test options beyond those presented here. © 2012 Society for Conservation Biology.

Stop-loss premiums under dependence

NARCIS (Netherlands)

Albers, Willem/Wim

1999-01-01

Stop-loss premiums are typically calculated under the assumption that the insured lives in the underlying portfolio are independent. Here we study the effects of small departures from this assumption. Using Edgeworth expansions, it is made transparent which configurations of dependence parameters

Teaching Proofs and Algorithms in Discrete Mathematics with Online Visual Logic Puzzles

Science.gov (United States)

Cigas, John; Hsin, Wen-Jung

2005-01-01

Visual logic puzzles provide a fertile environment for teaching multiple topics in discrete mathematics. Many puzzles can be solved by the repeated application of a small, finite set of strategies. Explicitly reasoning from a strategy to a new puzzle state illustrates theorems, proofs, and logic principles. These provide valuable, concrete…

Premium Forecasting of an Insurance Company: Automobile Insurance

OpenAIRE

Fouladvand, M. Ebrahim; Darooneh, Amir H.

2002-01-01

We present an analytical study of an insurance company. We model the company's performance on a statistical basis and evaluate the predicted annual income of the company in terms of insurance parameters namely the premium, total number of the insured, average loss claims etc. We restrict ourselves to a single insurance class the so-called automobile insurance. We show the existence a crossover premium p_c below which the company is loss-making. Above p_c, we also give detailed statistical ana...

Country Value Premiums and Financial Crises

Directory of Open Access Journals (Sweden)

Adam Zaremba

2014-01-01

Full Text Available The paper concentrates on the value premium across countries and contributes to the investment and asset pricing literature in three ways. First, I provide fresh evidence that the high-value countries perform significantly better than the low-value countries. Additionally, this phenomenon is indifferent to the choice of the computational currency, representative index or value indicator. Second, I demonstrate that the value effect can be successfully amplified by combining with country-level size and momentum effects. Third, I show that returns to the high-value countries deteriorate in financial crisis conditions, because the country-level value premium is negatively correlated with the credit spreads, TED spread and expected volatility. I examine data from 66 markets between years 2000 and 2013.

76 FR 40741 - Federal Housing Administration (FHA) Mortgage Insurance Premiums for Multifamily Housing Programs...

Science.gov (United States)

2011-07-11

... Administration (FHA) Mortgage Insurance Premiums for Multifamily Housing Programs, Health Care Facilities and... mortgage insurance premiums (MIPs) for FHA Multifamily Housing, Health Care Facilities, and Hospital... mortgage insurance regulation at 24 CFR 207.254 provides as follows: Notice of future premium changes will...

The Value Premium on the Danish Stock Market

DEFF Research Database (Denmark)

Risager, Ole

2005-01-01

research on this issue. The purpose of this paper is to report evidence for the Danish stock market and to test whether the value premium is a genuine long-term feature of the market or just a phenomenon that pops up now and then. To research this issue we have collected accounting and stock market data......A number of influential studies have documented a strong value premium for US stocks over the period 1963 to 1990 (Fama and French (1992), Lakonishok et al. (1994)). Stocks with low price-earnings multiples, price-book values and other measures of value are reported to have given a higher mean...... return than the high multiple growth firms. Work by Basu (1997) and others have shown that the value dominance is also a feature of the earlier market history of the United States. The value premium is reported also to exist in a number of other countries over the period 1975 to 1995 (Fama and French...

Puzzles in B physics

Indian Academy of Sciences (India)

Home; Journals; Pramana – Journal of Physics; Volume 67; Issue 5. Puzzles in physics. Hsiang-Nan Li ... Author Affiliations. Hsiang-Nan Li1 2. Institute of Physics, Academia Sinica, Taipei, Taiwan 115, Republic of China; Department of Physics, National Cheng-Kung University, Tainan, Taiwan 701, Republic of China ...

La Francophonie. Puzzle Corner.

Science.gov (United States)

Andrews, Ian A.

2000-01-01

Discusses the organization La Francophonie, which is an international community of people who speak French and convene to address issues. Presents a crossword puzzle that introduces readers to some of the nations involved in La Francophonie. Provides the across and down clues, a word list, and answer key. (CMK)

24 CFR 220.806 - Pro rata refund of insurance premium.

Science.gov (United States)

2010-04-01

... refund of insurance premium. Upon termination of loan insurance contract by a payment in full or by a... equal to the pro rata portion of the current annual loan insurance premium theretofore paid which is... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Pro rata refund of insurance...

Puzzling through General Chemistry: A Light-Hearted Approach to Engaging Students with Chemistry Content

Science.gov (United States)

Boyd, Susan L.

2007-01-01

Several puzzles are designed to be used by chemistry students as learning tools and teach them basic chemical concepts. The topics of the puzzles are based on the chapters from Chemistry, The Central Science used in general chemistry course and the puzzles are in various forms like crosswords, word searches, number searches, puzzles based on…

The Clock Is Ticking: Library Orientation as Puzzle Room

Science.gov (United States)

Reade, Tripp

2017-01-01

Tripp Reade is the school librarian at Cardinal Gibbons High School in Raleigh, North Carolina. This article describes how he redesigned his school's library orientation program after learning about escape rooms and a variant known as puzzle rooms. Puzzle rooms present players with a set of challenges to solve; they require "teamwork,…

75 FR 16645 - Increase in the Primary Nuclear Liability Insurance Premium

Science.gov (United States)

2010-04-02

... Primary Nuclear Liability Insurance Premium AGENCY: Nuclear Regulatory Commission. ACTION: Final rule... impractical. The NRC is amending its regulations to increase the primary premium for liability insurance... protection requirements and indemnity agreements to increase the primary nuclear liability insurance layer...

An agent-based approach to financial stylized facts

Science.gov (United States)

Shimokawa, Tetsuya; Suzuki, Kyoko; Misawa, Tadanobu

2007-06-01

An important challenge of the financial theory in recent years is to construct more sophisticated models which have consistencies with as many financial stylized facts that cannot be explained by traditional models. Recently, psychological studies on decision making under uncertainty which originate in Kahneman and Tversky's research attract a lot of interest as key factors which figure out the financial stylized facts. These psychological results have been applied to the theory of investor's decision making and financial equilibrium modeling. This paper, following these behavioral financial studies, would like to propose an agent-based equilibrium model with prospect theoretical features of investors. Our goal is to point out a possibility that loss-averse feature of investors explains vast number of financial stylized facts and plays a crucial role in price formations of financial markets. Price process which is endogenously generated through our model has consistencies with, not only the equity premium puzzle and the volatility puzzle, but great kurtosis, asymmetry of return distribution, auto-correlation of return volatility, cross-correlation between return volatility and trading volume. Moreover, by using agent-based simulations, the paper also provides a rigorous explanation from the viewpoint of a lack of market liquidity to the size effect, which means that small-sized stocks enjoy excess returns compared to large-sized stocks.

Taking private labels upmarket : Empirical generalizations on category drivers of premium private label introductions

NARCIS (Netherlands)

Ter Braak, A.M.; Geyskens, I.; Dekimpe, M.G.

Premium private labels (PLs) are considered one of the hottest trends in grocery retailing. Still, retailers do not feel the need to introduce premium PLs in every category. Generalizing across approximately 150 categories for six retailers from two countries that already carry premium PLs for

26 CFR 1.6050H-3T - Information reporting of mortgage insurance premiums (temporary).

Science.gov (United States)

2010-04-01

... Information reporting of mortgage insurance premiums (temporary). (a) Information reporting requirements. Any... section applies to the receipt of all payments of mortgage insurance premiums, by cash or financing... premiums is determined on a mortgage-by-mortgage basis. A recipient need not aggregate mortgage insurance...

38 CFR 8.4 - Deduction of insurance premiums from compensation, retirement pay, or pension.

Science.gov (United States)

2010-07-01

...' Relief DEPARTMENT OF VETERANS AFFAIRS NATIONAL SERVICE LIFE INSURANCE Premiums § 8.4 Deduction of insurance premiums from compensation, retirement pay, or pension. The insured under a National Service life insurance policy which is not lapsed may authorize the monthly deduction of premiums from disability...

Estimated value of insurance premium due to Citarum River flood by using Bayesian method

Science.gov (United States)

Sukono; Aisah, I.; Tampubolon, Y. R. H.; Napitupulu, H.; Supian, S.; Subiyanto; Sidi, P.

2018-03-01

Citarum river flood in South Bandung, West Java Indonesia, often happens every year. It causes property damage, producing economic loss. The risk of loss can be mitigated by following the flood insurance program. In this paper, we discussed about the estimated value of insurance premiums due to Citarum river flood by Bayesian method. It is assumed that the risk data for flood losses follows the Pareto distribution with the right fat-tail. The estimation of distribution model parameters is done by using Bayesian method. First, parameter estimation is done with assumption that prior comes from Gamma distribution family, while observation data follow Pareto distribution. Second, flood loss data is simulated based on the probability of damage in each flood affected area. The result of the analysis shows that the estimated premium value of insurance based on pure premium principle is as follows: for the loss value of IDR 629.65 million of premium IDR 338.63 million; for a loss of IDR 584.30 million of its premium IDR 314.24 million; and the loss value of IDR 574.53 million of its premium IDR 308.95 million. The premium value estimator can be used as neither a reference in the decision of reasonable premium determination, so as not to incriminate the insured, nor it result in loss of the insurer.

Estimating dual deposit insurance premium rates and forecasting non-performing loans: Two new models

OpenAIRE

Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad

2015-01-01

Risky banks that endanger the stability of the financial system should pay higher deposit insurance premiums than healthy banks and other financial institutions that have shown good financial performance. It is necessary, therefore, to have at least a dual fair premium rate system. In this paper, we develop a model for calculating dual fair premium rates. Our definition of a fair premium rate in this paper is a rate that could cover the operational expenditures of the deposit insuring organiz...

Puzzle-Based Learning in Engineering Mathematics: Students' Attitudes

Science.gov (United States)

Klymchuk, Sergiy

2017-01-01

The article reports on the results of two case studies on the impact of the regular use of puzzles as a pedagogical strategy in the teaching and learning of engineering mathematics. The intention of using puzzles is to engage students' emotions, creativity and curiosity and also to enhance their generic thinking skills and lateral thinking…

The U.S. health insurance marketplace: are premiums truly affordable?

Science.gov (United States)

Graetz, Ilana; Kaplan, Cameron M; Kaplan, Erin K; Bailey, James E; Waters, Teresa M

2014-10-21

The Patient Protection and Affordable Care Act requires that individuals have health insurance or pay a penalty. Individuals are exempt from paying this penalty if the after-subsidy cost of the least-expensive plan available to them is greater than 8% of their income. For this study, premium data for all health plans offered on the state and federal health insurance marketplaces were collected; the after-subsidy cost of premiums for the least-expensive bronze plan for every county in the United States was calculated; and variations in premium affordability by age, income, and geographic area were assessed. Results indicated that-although marketplace subsidies ensure affordable health insurance for most persons in the United States-many individuals with incomes just above the subsidy threshold will lack affordable coverage and will be exempt from the mandate. Furthermore, young individuals with low incomes often pay as much as or more than older individuals for bronze plans. If substantial numbers of younger, healthier adults choose to remain uninsured because of cost, health insurance premiums across all ages may increase over time.

On IBM's Millennial Puzzle

Indian Academy of Sciences (India)

Home; Journals; Resonance – Journal of Science Education; Volume 5; Issue 10. On IBM's Millennial Puzzle. A Sarangarajan. Classroom Volume 5 Issue 10 October 2000 pp 81-89. Fulltext. Click here to view fulltext PDF. Permanent link: https://www.ias.ac.in/article/fulltext/reso/005/10/0081-0089. Author Affiliations.

Robust Sex Differences in Jigsaw Puzzle Solving-Are Boys Really Better in Most Visuospatial Tasks?

Science.gov (United States)

Kocijan, Vid; Horvat, Marina; Majdic, Gregor

2017-01-01

Sex differences are consistently reported in different visuospatial tasks with men usually performing better in mental rotation tests while women are better on tests for memory of object locations. In the present study, we investigated sex differences in solving jigsaw puzzles in children. In total 22 boys and 24 girls were tested using custom build tablet application representing a jigsaw puzzle consisting of 25 pieces and featuring three different pictures. Girls outperformed boys in solving jigsaw puzzles regardless of the picture. Girls were faster than boys in solving the puzzle, made less incorrect moves with the pieces of the puzzle, and spent less time moving the pieces around the tablet. It appears that the strategy of solving the jigsaw puzzle was the main factor affecting differences in success, as girls tend to solve the puzzle more systematically while boys performed more trial and error attempts, thus having more incorrect moves with the puzzle pieces. Results of this study suggest a very robust sex difference in solving the jigsaw puzzle with girls outperforming boys by a large margin.

Robust Sex Differences in Jigsaw Puzzle Solving—Are Boys Really Better in Most Visuospatial Tasks?

Science.gov (United States)

Kocijan, Vid; Horvat, Marina; Majdic, Gregor

2017-01-01

Sex differences are consistently reported in different visuospatial tasks with men usually performing better in mental rotation tests while women are better on tests for memory of object locations. In the present study, we investigated sex differences in solving jigsaw puzzles in children. In total 22 boys and 24 girls were tested using custom build tablet application representing a jigsaw puzzle consisting of 25 pieces and featuring three different pictures. Girls outperformed boys in solving jigsaw puzzles regardless of the picture. Girls were faster than boys in solving the puzzle, made less incorrect moves with the pieces of the puzzle, and spent less time moving the pieces around the tablet. It appears that the strategy of solving the jigsaw puzzle was the main factor affecting differences in success, as girls tend to solve the puzzle more systematically while boys performed more trial and error attempts, thus having more incorrect moves with the puzzle pieces. Results of this study suggest a very robust sex difference in solving the jigsaw puzzle with girls outperforming boys by a large margin. PMID:29109682

What do we learn from the ρ-π puzzle

International Nuclear Information System (INIS)

Li Xueqian

2010-01-01

The experimental observation indicates that the branching ratio of ψ' →ρπ is very small while the ρ-π channel is a main one in J/ψ decays. To understand the puzzle, various interpretations have been proposed. Meanwhile according to the hadronic helicity selection rule, this decay mode should be suppressed. Numerical calculations are needed to determine how it is suppressed.We calculate the branching ratios of J/ψ→ρπ and ππ in the framework of QCD. The results show that the branching ratios are proportional to [(m u +m d )/(M J/ψ )] 2 for the ρπ mode and [(m u -m d )/(m J/ψ )] 2 for the ππ mode which is isospin violated. The theoretical prediction of the ratio of J/ψ → ρπ is smaller than data, but not too small to invoke a completely new mechanism. Thus the puzzle is still standing even though we learn much knowledge towards the puzzle and this will help to finally interpret the puzzle and then gain a deeper insight to the heavy quarkonia. (author)

Lepton mixing and the ''solar neutrino puzzle''

International Nuclear Information System (INIS)

Bilenky, S.M.; Pontecorvo, B.

1977-01-01

The results of the well known solar neutrino experiment of Davis et al. are discussed, in which the Cl-Ar method is used. The result of the experiment, a too small neutrino signal (the so-called ''solar neutrino puzzle'), has been tentatively accounted for in a number of quite exotic explanations. It appears that the explanation in terms of lepton mixing and neutrino sterility is quite attractive from the point of view of present day elementary particle physics and is much more natural than the other explanations of the ''puzzle''

Fair premium rate of the deposit insurance system based on banks' creditworthiness

OpenAIRE

Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad

2017-01-01

Purpose: Deposit insurance is a key element in modern banking, as it guarantees the financial safety of deposits at depository financial institutions. It is necessary to have at least a dual fair premium rate system based on the creditworthiness of financial institutions, as considering a singular premium system for all banks will have a moral hazard. In this paper, we develop a theoretical as well as an empirical model for calculating dual fair premium rates. Design/methodology/approach: Our...

International trade network: fractal properties and globalization puzzle.

Science.gov (United States)

Karpiarz, Mariusz; Fronczak, Piotr; Fronczak, Agata

2014-12-12

Globalization is one of the central concepts of our age. The common perception of the process is that, due to declining communication and transport costs, distance becomes less and less important. However, the distance coefficient in the gravity model of trade, which grows in time, indicates that the role of distance increases rather than decreases. This, in essence, captures the notion of the globalization puzzle. Here, we show that the fractality of the international trade system (ITS) provides a simple solution for the puzzle. We argue that the distance coefficient corresponds to the fractal dimension of ITS. We provide two independent methods, the box counting method and spatial choice model, which confirm this statement. Our results allow us to conclude that the previous approaches to solving the puzzle misinterpreted the meaning of the distance coefficient in the gravity model of trade.

Distress risk and leverage puzzles: Evidence from Taiwan

Directory of Open Access Journals (Sweden)

Kung-Cheng Ho

2016-05-01

Full Text Available Financial distress has been invoked in the asset pricing literature to explain the anomalous patterns in the cross-section of stock returns. The risk of financial distress can be measured using indexes. George and Hwang (2010 suggest that leverage can explain the distress risk puzzle and that firms with high costs choose low leverage to reduce distress intensities and earn high returns. This study investigates whether this relationship exists in the Taiwan market. When examined separately, distress intensity is found to be negatively related to stock returns, but leverage is found to not be significantly related to stock returns. The results are the same when distress intensity and leverage are examined simultaneously. After assessing the robustness by using O-scores, distress risk puzzle is found to exist in the Taiwan market, but the leverage puzzle is not

Stateless Puzzles for Real Time Online Fraud Preemption

OpenAIRE

Rahman, Mizanur; Recabarren, Ruben; Carbunar, Bogdan; Lee, Dongwon

2017-01-01

The profitability of fraud in online systems such as app markets and social networks marks the failure of existing defense mechanisms. In this paper, we propose FraudSys, a real-time fraud preemption approach that imposes Bitcoin-inspired computational puzzles on the devices that post online system activities, such as reviews and likes. We introduce and leverage several novel concepts that include (i) stateless, verifiable computational puzzles, that impose minimal performance overhead, but e...

Protocol for the development of a CONSORT-equity guideline to improve reporting of health equity in randomized trials.

Science.gov (United States)

Welch, Vivian; Jull, J; Petkovic, J; Armstrong, R; Boyer, Y; Cuervo, L G; Edwards, Sjl; Lydiatt, A; Gough, D; Grimshaw, J; Kristjansson, E; Mbuagbaw, L; McGowan, J; Moher, D; Pantoja, T; Petticrew, M; Pottie, K; Rader, T; Shea, B; Taljaard, M; Waters, E; Weijer, C; Wells, G A; White, H; Whitehead, M; Tugwell, P

2015-10-21

Health equity concerns the absence of avoidable and unfair differences in health. Randomized controlled trials (RCTs) can provide evidence about the impact of an intervention on health equity for specific disadvantaged populations or in general populations; this is important for equity-focused decision-making. Previous work has identified a lack of adequate reporting guidelines for assessing health equity in RCTs. The objective of this study is to develop guidelines to improve the reporting of health equity considerations in RCTs, as an extension of the Consolidated Standards of Reporting Trials (CONSORT). A six-phase study using integrated knowledge translation governed by a study executive and advisory board will assemble empirical evidence to inform the CONSORT-equity extension. To create the guideline, the following steps are proposed: (1) develop a conceptual framework for identifying "equity-relevant trials," (2) assess empirical evidence regarding reporting of equity-relevant trials, (3) consult with global methods and content experts on how to improve reporting of health equity in RCTs, (4) collect broad feedback and prioritize items needed to improve reporting of health equity in RCTs, (5) establish consensus on the CONSORT-equity extension: the guideline for equity-relevant trials, and (6) broadly disseminate and implement the CONSORT-equity extension. This work will be relevant to a broad range of RCTs addressing questions of effectiveness for strategies to improve practice and policy in the areas of social determinants of health, clinical care, health systems, public health, and international development, where health and/or access to health care is a primary outcome. The outcomes include a reporting guideline (CONSORT-equity extension) for equity-relevant RCTs and a knowledge translation strategy to broadly encourage its uptake and use by journal editors, authors, and funding agencies.

Residential consumers in the Cape Peninsula's willingness to pay for premium priced green electricity

International Nuclear Information System (INIS)

Oliver, Henry; Volschenk, Jako; Smit, Eon

2011-01-01

A number of studies have explored the willingness (i.e. stated willingness as opposed to actual willingness) of consumers to pay a premium for green electricity in developed countries. However, little is known about how this translates into an emerging economy context. This study investigates the level of willingness of residential households in South Africa's Cape Peninsula to pay a premium for electricity from renewable energy. It methodologically drew on recent contributions in the literature on norm-motivated behaviour used to identify testable factors that could influence residential consumers' willingness to pay (WTP). Interestingly, the study found a significant positive link between household income and WTP for green electricity, contrary to the findings of some previous studies. Not only are higher income households more likely to pay a premium, but typically they are also willing to pay a bigger premium. It was also further established that the view that green electricity is reliable, involvement in the recycling of waste and the belief that everyone should contribute to green electricity generation drive the WTP. - Research Highlights: →The study explored the drivers of willingness to pay (WTP) a premium for green electricity. →All the hypothesised drivers of WTP a premium were found to be significant. →Contrary to some former studies, income was found to be a good predictor of WTP and the pledged premium. →The quantum of the premium positively correlates with income levels.

Reviewing the Concept of Brand Equity and Evaluating Consumer-Based Brand Equity (CBBE) Models

OpenAIRE

Sanaz Farjam; Xu Hongyi

2015-01-01

The purpose of this paper is to explore the concept of brand equity and discuss its different perspectives, we try to review existing literature of brand equity and evaluate various Customer-based brand equity models to provide a collection from well-known databases for further research in this area.Classification-JEL: M00

Studying the proton 'radius' puzzle with μp elastic scattering

International Nuclear Information System (INIS)

Gilman, R.

2013-01-01

The disagreement between the proton radius determined from muonic hydrogen and from electronic measurements is called the proton radius puzzle. The resolution of the puzzle remains unclear and appears to require new experimental results. An experiment to measure muon-proton elastic scattering is presented here

Is there evidence that recent consolidation in the health insurance industry has adversely affected premiums?

Science.gov (United States)

Kopit, William G

2004-01-01

James Robinson suggests that recent consolidation in the insurance market has been a cause of higher health insurance prices (premiums). Although the recent consolidation among health insurers and rising premiums are indisputable, it is unlikely that consolidation has had any adverse effect on premiums nationwide, and Robinson provides no data that suggest otherwise. Specifically, he does not present data showing an increase in concentration in any relevant market during the past few years, let alone any resulting increase in premiums. Health insurance consolidation in certain local markets could adversely affect premiums, but it seems clear that it is not a major national antitrust issue.

Bagging constrained equity premium predictors

DEFF Research Database (Denmark)

Hillebrand, Eric; Lee, Tae-Hwy; Medeiros, Marcelo

2014-01-01

The literature on excess return prediction has considered a wide array of estimation schemes, among them unrestricted and restricted regression coefficients. We consider bootstrap aggregation (bagging) to smooth parameter restrictions. Two types of restrictions are considered: positivity of the r...

Do "premium" joint implants add value?: analysis of high cost joint implants in a community registry.

Science.gov (United States)

Gioe, Terence J; Sharma, Amit; Tatman, Penny; Mehle, Susan

2011-01-01

Numerous joint implant options of varying cost are available to the surgeon, but it is unclear whether more costly implants add value in terms of function or longevity. We evaluated registry survival of higher-cost "premium" knee and hip components compared to lower-priced standard components. Premium TKA components were defined as mobile-bearing designs, high-flexion designs, oxidized-zirconium designs, those including moderately crosslinked polyethylene inserts, or some combination. Premium THAs included ceramic-on-ceramic, metal-on-metal, and ceramic-on-highly crosslinked polyethylene designs. We compared 3462 standard TKAs to 2806 premium TKAs and 868 standard THAs to 1311 premium THAs using standard statistical methods. The cost of the premium implants was on average approximately $1000 higher than the standard implants. There was no difference in the cumulative revision rate at 7-8 years between premium and standard TKAs or THAs. In this time frame, premium implants did not demonstrate better survival than standard implants. Revision indications for TKA did not differ, and infection and instability remained contributors. Longer followup is necessary to demonstrate whether premium implants add value in younger patient groups. Level III, therapeutic study. See Guidelines for Authors for a complete description of levels of evidence.

Ability and Willingness to Pay Premium in the Framework of National Health Insurance System

Directory of Open Access Journals (Sweden)

Aulia Abdillah Ramadhan

2015-12-01

Full Text Available Background: The National Health Insurance is one of the government’s efforts to improve community access to health services. The government has fixed the premiums to be paid by community, except for underprivileged community. The aim of the study was to identify Ability to Pay (ATP and Willingness to Pay (WTP of the national health insurance premium. Methods: A descriptive study which involved 210 housewives who were chosen by rapid survey method was conducted from September to November 2013 in Cipacing village, Jatinangor, Sumedang, West Java. Data collection was using questionnaire to obtain level of ability and willingness to pay the health insurance premium. The results were compared to the required premium by the government (Rp 22,000,-. Results: Most of the respondents were only housewives, but there were still respondents who were private workers. Most of them were 20–39 years old. About 57.6% of the respondents were able to pay for the required premium, but Only 17.4% of the them were willing to pay according to the required premium. Conclusions: The ATP of the respondents are higher compared to the WTP, meaning that most of the respondents are able to pay the requires premium but are not willing to pay it.

Estimating Premium Sensitivity for Children's Public Health Insurance Coverage: Selection but No Death Spiral

Science.gov (United States)

Marton, James; Ketsche, Patricia G; Snyder, Angela; Adams, E Kathleen; Zhou, Mei

2015-01-01

Objective To estimate the effect of premium increases on the probability that near-poor and moderate-income children disenroll from public coverage. Data Sources Enrollment, eligibility, and claims data for Georgia's PeachCare for Kids™ (CHIP) program for multiple years. Study Design We exploited policy-induced variation in premiums generated by cross-sectional differences and changes over time in enrollee age, family size, and income to estimate the duration of enrollment as a function of the effective (per child) premium. We classify children as being of low, medium, or high illness severity. Principal Findings A dollar increase in the per-child premium is associated with a slight increase in a typical child's monthly probability of exiting coverage from 7.70 to 7.83 percent. Children with low illness severity have a significantly higher monthly baseline probability of exiting than children with medium or high illness severity, but the enrollment response to premium increases is similar across all three groups. Conclusions Success in achieving coverage gains through public programs is tempered by persistent problems in maintaining enrollment, which is modestly affected by premium increases. Retention is subject to adverse selection problems, but premium increases do not appear to significantly magnify the selection problem in this case. PMID:25130764

The Effect of Monetary Policy on Exchange Rates : How to Solve the Puzzles

NARCIS (Netherlands)

Kumah, F.Y.

1996-01-01

Recent empirical research on the effects of monetary policy shocks on exchange rate fluctuations have encountered the exchange rate puzzle and th e forward discount bias puzzle.The exchange rate puzzle is the tendency of the domestic currency (of non-US G-7 countries) to depreciate against the US

24 CFR 252.6 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 252.6 Section 252.6 Housing and Urban Development Regulations Relating to Housing and..., AND BOARD AND CARE HOMES § 252.6 Method of payment of mortgage insurance premiums. The provisions of..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT...

MCBS Highlights: Ownership and Average Premiums for Medicare Supplementary Insurance Policies

Science.gov (United States)

Chulis, George S.; Eppig, Franklin J.; Poisal, John A.

1995-01-01

This article describes private supplementary health insurance holdings and average premiums paid by Medicare enrollees. Data were collected as part of the 1992 Medicare Current Beneficiary Survey (MCBS). Data show the number of persons with insurance and average premiums paid by type of insurance held—individually purchased policies, employer-sponsored policies, or both. Distributions are shown for a variety of demographic, socioeconomic, and health status variables. Primary findings include: Seventy-eight percent of Medicare beneficiaries have private supplementary insurance; 25 percent of those with private insurance hold more than one policy. The average premium paid for private insurance in 1992 was $914. PMID:10153473

Stakeholders in Equity-Based Crowdfunding: Respective Risks Over the Equity Crowdfunding Lifecycle

Directory of Open Access Journals (Sweden)

Semen Son Turan

2015-08-01

Full Text Available Objective. The purpose of this paper is to present a thorough research on the risk categories and specific risk factors that each immediate stakeholder faces over the equity crowdfunding lifecycle.Methodology. This study employs an exploratory approach, supported by current data to understand the global equity crowdfunding setting and the stakes for major players.Findings. Findings show that, although equity crowdfunding, can be a unique opportunity especially for underdeveloped countries and SMEs who have difficulty obtaining funding elsewhere, is also a potential peril for those who ignore or underestimate the overall and stand-alone risks that come along with each stage of the process. The findings have implications for all ventures seeking alternative financing venues, investors and equity crowdsourcing platforms. Furthermore, they pinpoint potential areas of further investigation for researchers and policy makers.Originality/Value. This study differentiates itself from the limited number of papers on equity crowdfunding, as a newly developing field of academic research, in that it underscores financial, regulatory, operational, reputational and strategic risks from several perspectives and offers recommendations on how these risks can be addressed.

24 CFR 255.6 - Method of payment of mortgage insurance premiums.

Science.gov (United States)

2010-04-01

... insurance premiums. 255.6 Section 255.6 Housing and Urban Development Regulations Relating to Housing and... PROJECTS § 255.6 Method of payment of mortgage insurance premiums. The provisions of 24 CFR 251.6 shall..., DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT...

Effects of public premiums on children's health insurance coverage: evidence from 1999 to 2003.

Science.gov (United States)

Kenney, Genevieve; Hadley, Jack; Blavin, Fredric

This study uses 2000 to 2004 Current Population Survey data to examine the effects of public premiums on the insurance coverage of children whose family incomes are between 100% and 300% of the federal poverty level. The analysis employs multinomial logistic models that control for factors other than premium costs. While the magnitude of the estimated effects varies across models, the results consistently indicate that raising public premiums reduces enrollment in public programs, with some children who forgo public coverage having private coverage instead and others being uninsured. The results indicate that public premiums have larger effects when applied to lower-income families.

Essays on executive equity-based compensation and equity ownership

OpenAIRE

Elsilä, A. (Anna)

2015-01-01

Abstract A major proposition of the agency theory is that the conflict of interests between an agent and a principal is reduced when the agent’s wealth and compensation are tied to the performance of the firm. Apart from the direct predicted relation to corporate performance, compensating managers with equity instruments has implications for corporate risk-taking and payout policy choices. Additionally, equity-based compensation practices are to a large extent shaped by institutional facto...

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

Principal component analysis of equity options on Dow-Jones firms reveals a strong factor structure. The first principal component explains 77% of the variation in the equity volatility level, 77% of the variation in the equity option skew, and 60% of the implied volatility term structure across...... equities. Furthermore, the first principal component has a 92% correlation with S&P500 index option volatility, a 64% correlation with the index option skew, and a 80% correlation with the index option term structure. We develop an equity option valuation model that captures this factor structure...

Optimal dynamic premium control in non-life insurance. Maximizing dividend pay-outs

DEFF Research Database (Denmark)

Højgaard, Bjarne

2002-01-01

In this paper we consider the problem of finding optimal dynamic premium policies in non-life insurance. The reserve of a company is modeled using the classical Cramér-Lundberg model with premium rates calculated via the expected value principle. The company controls dynamically the relative safety...... loading with the possibility of gaining or loosing customers. It distributes dividends according to a 'barrier strategy' and the objective of the company is to find an optimal premium policy and dividend barrier maximizing the expected total, discounted pay-out of dividends. In the case of exponential...

The π+-emission puzzle in 4ΛHe decay

International Nuclear Information System (INIS)

Gibson, B.F.; Timmermans, R.G.E.

1998-01-01

We re-examine the puzzling π + emission from the weak decay of 4 Λ He and propose an explanation in terms of a three-body decay of the virtual Σ + . Such a resolution of the π + decay puzzle is consistent with the calculated Σ + probability in light Λ hypernuclei as well as the experimentally observed π + energy spectrum and s-wave angular distribution. (orig.)

Geographic variation in premiums in health insurance marketplaces.

Science.gov (United States)

Barker, Abigail R; McBride, Timothy D; Kemper, Leah M; Mueller, Keith

2014-08-01

This policy brief analyzes the 2014 premiums associated with qualified health plans (QHPs) made available through new health insurance marketplaces (HIMs), an implementation of the Patient Protection and Affordable Care Act (ACA) of 2010. We report differences in premiums by insurance rating areas while controlling for other important factors such as the actuarial value of the plan (metal level), cost-of-living differences, and state-level decisions over type of rating area. While market equilibrium, based on experience and understanding of the characteristics of the new market, should not be expected this soon, preliminary results give policymakers key issues to monitor.

METODE BERMAIN PUZZLE BERPENGARUH PADA PERKEMBANGAN MOTORIK HALUS ANAK USIA PRASEKOLAH

Directory of Open Access Journals (Sweden)

Lilis Maghfuroh

2018-03-01

Full Text Available Pre-school is a period to increase fine motor development of children. This research aims to determine the increasing of fine motor development using the puzzle for preschoolers. his research is using one-group pre-post test design without control and procedures for statistical analysis through Wilcoxon Sign Rank Test with a confidence level of 95% and α: 5%. The subjects of this study were 40 children. The results of the analysis showed that there was effect of the intervention method by playing puzzle through the development of fine motor skills at pre-school children in mind that the value of Z sign p = 0.001 where significant value of p <0.05. Puzzle play method can improve child language development. The results of this research can be used as the basic for doing the puzzles therapy in children because it can improve fine motor skills development of children. Masa prasekolah merupakan masa peningkatan perkembangan motorik halus. Motorik halus adalah gerakan yang dilakukan oleh sekelompok otot-otot kecil seperti jari-jemari. Pada survey awal hampir sebagian anak mengalami perkembangan motorik suspek. Penelitian ini untuk mengetahui pengaruh metode puzzle terhadap perkembangan motorik halus anak pra sekolah. Penelitian ini menggunakan one-group pra-post test design tanpa control dan analisis statistik menggunakan Uji Wilcoxon Sign Rank Test dengan tingkat  kepercayaan 95% dan α : 5%. Populasi penelitian 50 anak dan sample 40 anak dengan tehnik Simple Random Sampling. Setelah data terkumpul dengan menggunakan DDST selanjutnya dianalisa. Hasil penelitian ini menunjukkan ada pengaruh metode bermain puzzle terhadap perkembangan motorik halus diketahui p sign = 0,001 dimana nilai signifikan p < 0,05. Hasil penelitian ini dapat dijadikan dasar untuk melakukan terapi puzzle pada anak untuk meningkatkan perkembangan motorik halus anak.

Association of Crossword Puzzle Participation with Memory Decline in Persons Who Develop Dementia

Science.gov (United States)

Pillai, Jagan A.; Hall, Charles B.; Dickson, Dennis W.; Buschke, Herman; Lipton, Richard B.; Verghese, Joe

2013-01-01

Participation in cognitively stimulating leisure activities such as crossword puzzles may delay onset of the memory decline in the preclinical stages of dementia, possibly via its effect on improving cognitive reserve. We followed 488 initially cognitively intact community residing individuals with clinical and cognitive assessments every 12–18 months in the Bronx Aging Study. We assessed the influence of crossword puzzle participation on the onset of accelerated memory decline as measured by the Buschke Selective Reminding Test in 101 individuals who developed incident dementia using a change point model. Crossword puzzle participation at baseline delayed onset of accelerated memory decline by 2.54 years. Inclusion of education or participation in other cognitively stimulating activities did not significantly add to the fit of the model beyond the effect of puzzles. Our findings show that late life crossword puzzle participation, independent of education, was associated with delayed onset of memory decline in persons who developed dementia. Given the wide availability and accessibility of crossword puzzles, their role in preventing cognitive decline should be validated in future clinical trials. PMID:22040899

Estimating the market premium in short term interest rates

OpenAIRE

Hansen, Hans Fredrik

2006-01-01

Looking at the term structure in the interest rate market one can’t help notice the evident market premium above the central banks target rate. What factors might decide this premium? By using different variations of simple regression models we see that the model is constantly lagging the real time series. Acknowledging the fact that market clearings often are subject to several equations; we’re better able to develop a sensible model using a simultaneous equilibrium model. The multiple equat...

Experience Studies on Determining Life Premium Insurance Ratings: Practical Approaches

Directory of Open Access Journals (Sweden)

Mirela CRISTEA

2008-01-01

Full Text Available The focus of this article is to present the modelling tehcniques used on international practice in the evaluation of right life premiums based. The knowledge and models obtained have a common element of mortality risk indicators but these are varied in different parts of the world. The common elements of these studies and models are generally based on a series of indicators which mainly point out their probability of survival and they are named the mortality indicators. These indicators represent the basis for the calculation of the premiums quotes and for the elaboration by the insurers of premium tables. The benefit for the policyholder is to obtain insurance at a fair and competitive price and for the insurer, to maintain the experience of its portfolio in line with mortality assumptions.

Nature's Greatest Puzzles

International Nuclear Information System (INIS)

Quigg, Chris

2005-01-01

It is a pleasure to be part of the SLAC Summer Institute again, not simply because it is one of the great traditions in our field, but because this is a moment of great promise for particle physics. I look forward to exploring many opportunities with you over the course of our two weeks together. My first task in talking about Nature's Greatest Puzzles, the title of this year's Summer Institute, is to deconstruct the premise a little bit

Growth and variability in health plan premiums in the individual insurance market before the Affordable Care Act.

Science.gov (United States)

Gruber, Jonathan

2014-06-01

Before we can evaluate the impact of the Affordable Care Act on health insurance premiums in the individual market, it is critical to understand the pricing trends of these premiums before the implementation of the law. Using rates of increase in the individual insurance market collected from state regulators, this issue brief documents trends in premium growth in the pre-ACA period. From 2008 to 2010, premiums grew by 10 percent or more per year. This growth was also highly variable across states, and even more variable across insurance plans within states. The study suggests that evaluating trends in premiums requires looking across a broad array of states and plans, and that policymakers must examine how present and future changes in premium rates compare with the more than 10 percent per year premium increases in the years preceding health reform.

5 CFR 892.102 - What is premium conversion and how does it work?

Science.gov (United States)

2010-01-01

...) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS... FEHB insurance premium. If you are a participant in the premium conversion plan, Section 125 of the...

29 CFR 778.205 - Premiums for weekend and holiday work-example.

Science.gov (United States)

2010-07-01

... 29 Labor 3 2010-07-01 2010-07-01 false Premiums for weekend and holiday work-example. 778.205....205 Premiums for weekend and holiday work—example. The application of section 7(e)(6) may be illustrated by the following example: Suppose an agreement of employment calls for the payment of $7.50 an...

Construction-Paper Puzzle Masterpieces

Science.gov (United States)

Vance, Shelly

2010-01-01

Creating an appreciation of art history in her junior-high students has always been one of the author's greatest challenges as an art teacher. In this article, the author describes how her eighth-grade students re-created a famous work of art--piece by piece, like a puzzle or a stained-glass window--out of construction paper. (Contains 1 resource.)

The case for risk-based premiums in public health insurance.

Science.gov (United States)

Zweifel, Peter; Breuer, Michael

2006-04-01

Uniform, risk-independent insurance premiums are accepted as part of 'managed competition' in health care. However, they are not compatible with optimality of health insurance contracts in the presence of both ex ante and ex post moral hazard. They have adverse effects on insurer behaviour even if risk adjustment is taken into account. Risk-based premiums combined with means-tested, tax-financed transfers are advocated as an alternative.

The Ay puzzle and the nuclear force

International Nuclear Information System (INIS)

Hueber, D.

1999-01-01

The nucleon-deuteron analyzing power A y in elastic nucleon-deuteron scattering poses a longstanding puzzle. At energies E lab below approximately 30 MeV, A y cannot be described by any realistic NN force. The inclusion of existing three-nucleon forces does not improve the situation. Because of recent questions about the 3 P J NN phases, we examine whether reasonable changes in the NN force can resolve the puzzle. In order to do this, we investigate the effect on the 3 P J waves produced by changes in different parts of the potential (viz., the central force, tensor force, etc.), as well as on the 2-body observables and on A y . We find that it is not possible with reasonable changes in the NN potential to increase the 3-body A y , and at the same time to keep the 2-body observables unchanged. We therefore conclude that the A y puzzle is likely to be solved by new three-nucleon forces, such as those of spin-orbit type, which have not yet been taken into account. Refs. 7, tab. 1 (author)

The Ay puzzle and the nuclear force

International Nuclear Information System (INIS)

Hueber, D.; Friar, J.L.

1998-01-01

The nucleon-deuteron analyzing power A y in elastic nucleon-deuteron scattering poses a longstanding puzzle. At energies E lab below approximately 30 MeV A y cannot be described by any realistic nucleon-nucleon (NN) force. The inclusion of existing three-nucleon forces does not improve the situation. Because of recent questions about the 3 P J NN phases, we examine whether reasonable changes in the NN force can resolve the puzzle. In order to do this we investigate the effect on the 3 P J waves produced by changes in different parts of the potential (viz., the central force, tensor force, etc.), as well as on the two-body observables and on A y . We find that it is not possible with reasonable changes in the NN potential to increase the three-body A y and at the same time to keep the two-body observables unchanged. We therefore conclude that the A y puzzle is likely to be solved by new three-nucleon forces, such as those of the spin-orbit type, which have not yet been taken into account. copyright 1998 The American Physical Society

Stock price dynamics and option valuations under volatility feedback effect

Science.gov (United States)

Kanniainen, Juho; Piché, Robert

2013-02-01

According to the volatility feedback effect, an unexpected increase in squared volatility leads to an immediate decline in the price-dividend ratio. In this paper, we consider the properties of stock price dynamics and option valuations under the volatility feedback effect by modeling the joint dynamics of stock price, dividends, and volatility in continuous time. Most importantly, our model predicts the negative effect of an increase in squared return volatility on the value of deep-in-the-money call options and, furthermore, attempts to explain the volatility puzzle. We theoretically demonstrate a mechanism by which the market price of diffusion return risk, or an equity risk-premium, affects option prices and empirically illustrate how to identify that mechanism using forward-looking information on option contracts. Our theoretical and empirical results support the relevance of the volatility feedback effect. Overall, the results indicate that the prevailing practice of ignoring the time-varying dividend yield in option pricing can lead to oversimplification of the stock market dynamics.

An Alternative Evaluation: Online Puzzle as a Course-End Activity

Science.gov (United States)

Genç, Zülfü; Aydemir, Emrah

2015-01-01

Purpose: The purpose of this study is to determine whether the use of online puzzles in the instructional process has an effect on student achievement and learning retention. This study examined students ' perception and experiences on use of puzzle as an alternative evaluation tool. To achieve this aim, the following hypotheses were tested: using…

Association between rising professional liability insurance premiums and primary cesarean delivery rates.

Science.gov (United States)

Murthy, Karna; Grobman, William A; Lee, Todd A; Holl, Jane L

2007-12-01

To estimate the association between changes in Illinois professional liability premiums for obstetrician-gynecologists and singleton primary cesarean delivery rates. Data from the National Center for Health Statistics were used to identify all singleton births between 37 weeks and 44 weeks of gestation occurring in Illinois from 1998 through 2003. Primary cesarean delivery rates for women delivered between 37 weeks and 44 weeks of gestation per 1,000 gravid women eligible to have a primary cesarean delivery were calculated for each Illinois county. The annual medical professional liability premium for each county in Illinois was represented by the reported professional liability insurance rate charges (adjusted to 2004 dollars) from the ISMIE Mutual Insurance Company. Separate analyses were conducted for nulliparous and multiparous women. The independent association between county-level primary cesarean delivery rates and the previous year's insurance premiums was evaluated using linear regression models. During the study period, 817,521 women were eligible for inclusion in the analysis. The county-level mean primary cesarean delivery rate increased from 126 to 163 per 1,000 (Pinsurance premiums also rose significantly (from $60,766 in 1997 to $83,167 in 2002, Pinsurance premium increase, the primary cesarean delivery rate increased by 15.7 per 1,000 for nulliparous women. This association also was evident for multiparous women, who had an increase in cesarean deliveries of 4.7 per 1,000 for every $10,000 increase. Higher rates of primary cesarean delivery are associated with increased medical professional liability premiums for obstetrician-gynecologists in Illinois. II.

Equity trade-offs in conservation decision making.

Science.gov (United States)

Law, Elizabeth A; Bennett, Nathan J; Ives, Christopher D; Friedman, Rachel; Davis, Katrina J; Archibald, Carla; Wilson, Kerrie A

2018-04-01

Conservation decisions increasingly involve multiple environmental and social objectives, which result in complex decision contexts with high potential for trade-offs. Improving social equity is one such objective that is often considered an enabler of successful outcomes and a virtuous ideal in itself. Despite its idealized importance in conservation policy, social equity is often highly simplified or ill-defined and is applied uncritically. What constitutes equitable outcomes and processes is highly normative and subject to ethical deliberation. Different ethical frameworks may lead to different conceptions of equity through alternative perspectives of what is good or right. This can lead to different and potentially conflicting equity objectives in practice. We promote a more transparent, nuanced, and pluralistic conceptualization of equity in conservation decision making that particularly recognizes where multidimensional equity objectives may conflict. To help identify and mitigate ethical conflicts and avoid cases of good intentions producing bad outcomes, we encourage a more analytical incorporation of equity into conservation decision making particularly during mechanistic integration of equity objectives. We recommend that in conservation planning motivations and objectives for equity be made explicit within the problem context, methods used to incorporate equity objectives be applied with respect to stated objectives, and, should objectives dictate, evaluation of equity outcomes and adaptation of strategies be employed during policy implementation. © 2017 Society for Conservation Biology.

12 CFR 329.103 - Premiums.

Science.gov (United States)

2010-01-01

... interest as defined in § 329.1(c). (a) Premiums, whether in the form of merchandise, credit, or cash, given... the balance in a demand deposit account and the duration of the account balance shall not be considered the payment of interest on a demand deposit account and shall not be subject to the limitations in...

5 CFR 892.202 - Are retirees eligible for the premium conversion plan?

Science.gov (United States)

2010-01-01

... conversion plan? 892.202 Section 892.202 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.202 Are retirees eligible for the premium conversion plan? No...

5 CFR 892.201 - Who is covered by the premium conversion plan?

Science.gov (United States)

2010-01-01

... plan? 892.201 Section 892.201 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.201 Who is covered by the premium conversion plan? (a) All...

26 CFR 1.822-11 - Net premiums.

Science.gov (United States)

2010-04-01

... TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or Premium Deposits) § 1...

26 CFR 1.823-1 - Net premiums.

Science.gov (United States)

2010-04-01

... TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or Premium Deposits) § 1...

26 CFR 1.823-4 - Net premiums.

Science.gov (United States)

2010-04-01

... TAXES Mutual Insurance Companies (other Than Life and Certain Marine Insurance Companies and Other Than Fire Or Flood Insurance Companies Which Operate on Basis of Perpetual Policies Or Premium Deposits) § 1...

Business Cycle and Risk Premium in the Colombian Stock Market

Directory of Open Access Journals (Sweden)

Andrés Mauricio Gómez Sánchez

2013-11-01

Full Text Available Through the Hodrick-Prescott methodology this paper presents a review about the relationship between the ex post risk premium of the stock market and business cycles observed in Colombia. Through quarterly information from the fourth quarter of 2001 to the third quarter of 2012, statistical evidence shows that the increase and decrease of ex post risk premium follow a countercyclical behavior in tune with existing research conducted about the United States and emerging economies, although with non-contemporary relationships with private consumption. In addition, it is found that in the last decade the Colombian risk premium follows a process of Auto Regressive Moving Average Models (ARMA, showing that there is no variation in at least two consecutive quarters and whose behavior is generated in part by external events at the domestic economic activity level experienced in near past periods.

Teaching Inductive Reasoning with Puzzles

Science.gov (United States)

Wanko, Jeffrey J.

2017-01-01

Working with language-independent logic structures can help students develop both inductive and deductive reasoning skills. The Japanese publisher Nikoli (with resources available both in print and online) produces a treasure trove of language-independent logic puzzles. The Nikoli print resources are mostly in Japanese, creating the extra…

NICHD Research Networks Help Piece Together the Puzzle of Polycystic Ovary Syndrome

Science.gov (United States)

... Print NICHD research networks help piece together the puzzle of polycystic ovary syndrome Many people think that ... more like putting together a thousand-piece jigsaw puzzle. Except that you can’t check the cover ...

On Non-Parallelizable Deterministic Client Puzzle Scheme with Batch Verification Modes

NARCIS (Netherlands)

Tang, Qiang; Jeckmans, Arjan

A (computational) client puzzle scheme enables a client to prove to a server that a certain amount of computing resources (CPU cycles and/or Memory look-ups) has been dedicated to solve a puzzle. Researchers have identified a number of potential applications, such as constructing timed cryptography,

5 CFR 550.1409 - Inapplicability of premium pay and aggregate pay caps.

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Inapplicability of premium pay and aggregate pay caps. 550.1409 Section 550.1409 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL... Inapplicability of premium pay and aggregate pay caps. Accrued compensatory time off under this subpart is not...

Valuing Equal Protection in Aviation Security Screening.

Science.gov (United States)

Nguyen, Kenneth D; Rosoff, Heather; John, Richard S

2017-12-01

The growing number of anti-terrorism policies has elevated public concerns about discrimination. Within the context of airport security screening, the current study examines how American travelers value the principle of equal protection by quantifying the "equity premium" that they are willing to sacrifice to avoid screening procedures that result in differential treatments. In addition, we applied the notion of procedural justice to explore the effect of alternative selective screening procedures on the value of equal protection. Two-hundred and twenty-two respondents were randomly assigned to one of three selective screening procedures: (1) randomly, (2) using behavioral indicators, or (3) based on demographic characteristics. They were asked to choose between airlines using either an equal or a discriminatory screening procedure. While the former requires all passengers to be screened in the same manner, the latter mandates all passengers undergo a quick primary screening and, in addition, some passengers are selected for a secondary screening based on a predetermined selection criterion. Equity premiums were quantified in terms of monetary cost, wait time, convenience, and safety compromise. Results show that equity premiums varied greatly across respondents, with many indicating little willingness to sacrifice to avoid inequitable screening, and a smaller minority willing to sacrifice anything to avoid the discriminatory screening. The selective screening manipulation was effective in that equity premiums were greater under selection by demographic characteristics compared to the other two procedures. © 2017 Society for Risk Analysis.

Approximations for stop-loss reinsurance premiums

NARCIS (Netherlands)

Reijnen, Rajko; Albers, Willem/Wim; Kallenberg, W.C.M.

2005-01-01

Various approximations of stop-loss reinsurance premiums are described in literature. For a wide variety of claim size distributions and retention levels, such approximations are compared in this paper to each other, as well as to a quantitative criterion. For the aggregate claims two models are

Sources of Return in the Index Futures Markets

Directory of Open Access Journals (Sweden)

Adam Zaremba

2011-06-01

Full Text Available The paper concerns an issue of existence of a risk premium in equity and index futures markets. The paper consists of four parts. The first part describes the basic hypotheses of forward curves in the futures market. In the second section, I formulate 5 hypotheses concerning a risk premium in the equity futures market, its forecastability, and its dependence on a market segment and development stage. The third part includes an empirical study, which confirms the existence of timedependent and partially predictable risk premium. The research was based on the Polish futures market in the years 2000-2010. The last section of the paper discusses potential implications for the financial market practice and indicates areas for further research.

12 CFR 221.122 - Applicability of margin requirements to credit in connection with Insurance Premium Funding...

Science.gov (United States)

2010-01-01

... in connection with Insurance Premium Funding Programs. 221.122 Section 221.122 Banks and Banking...) Interpretations § 221.122 Applicability of margin requirements to credit in connection with Insurance Premium... with insurance premium funding programs. The inquiries are included in a set of guidelines in the...

77 FR 21580 - Changes in Certain Multifamily Housing and Health Care Facility Mortgage Insurance Premiums for...

Science.gov (United States)

2012-04-10

... Multifamily Housing and Health Care Facility Mortgage Insurance Premiums for Fiscal Year (FY) 2013 AGENCY...: In accordance with HUD regulations, this notice announces changes of the mortgage insurance premiums... mortgage. The mortgage insurance premiums to be in effect for FHA firm commitments issued or reissued in FY...

Lepton mixing and the 'solar neutrino puzzle'

International Nuclear Information System (INIS)

Bilenky, S.M.; Pontecorvo, B.

1977-01-01

The results of the well-known solar neutrino experiments in which the Cl-Ar method was employed are discussed; the results of this experiment gave a too-small neutrino signal and were referred to as the 'solar neutrino puzzle'. A number of explanations have been offered to account for the results, but it is stated that the explanation in terms of lepton mixing and neutrino sterility is attractive in terms of present day elementary particle physics and much more natural than the other explanations offered. Headings are as follows: neutrino oscillations and lepton charge, oscillations and solar neutrino experiments, lepton mixing according to old and present ideas, neutrino oscillations and the 'solar neutrino puzzle'. (U.K.)

29 CFR 825.212 - Employee failure to pay health plan premium payments.

Science.gov (United States)

2010-07-01

... Family and Medical Leave Act § 825.212 Employee failure to pay health plan premium payments. (a)(1) In... obligations to maintain health insurance coverage cease under FMLA if an employee's premium payment is more... an employee's insurance in accordance with this section and fails to restore the employee's health...

Calculation of benefit reserves based on true m-thly benefit premiums

Science.gov (United States)

Riaman; Susanti, Dwi; Supriatna, Agus; Nurani Ruchjana, Budi

2017-10-01

Life insurance is a form of insurance that provides risk mitigation in life or death of a human. One of its advantages is measured life insurance. Insurance companies ought to give a sum of money as reserves to the customers. The benefit reserves are an alternative calculation which involves net and cost premiums. An insured may pay a series of benefit premiums to an insurer equivalent, at the date of policy issue, to the sum of to be paid on the death of the insured, or on survival of the insured to the maturity date. A balancing item is required and this item is a liability for one of the parties and the other is an asset. The balancing item, in loan, is the outstanding principle, an asset for the lender and the liability for the borrower. In this paper we examined the benefit reserves formulas corresponding to the formulas for true m-thly benefit premiums by the prospective method. This method specifies that, the reserves at the end of the first year are zero. Several principles can be used for the determined of benefit premiums, an equivalence relation is established in our discussion.

PENERAPAN MODEL BRAND EQUITY TEN PADA UPBJJ-UT BOGOR

Directory of Open Access Journals (Sweden)

Deni Surapto

2015-04-01

Full Text Available The objectives of the study are to (1 analyze the dimensions of awareness, associations, perceived quality/leadership, loyalty, and market behavior based upon the assessment of Open University students and the public, (2 evaluate the Open University brand equity model based on brand equity ten. The time period of research was during April-July 2012 and the location was in Open University Bogor campus. The population of this study consisted of high school students, employees and students of Open University Bogor, amounting to 693,950 people. Samples of 400 people were obtained. The data is collected using survey method, whereby interviews of the sample group is conducted using a closed form questionnaire based upon the Likert scale method. Based on the results from the analysis of the measures of awareness and brand recall, the Open University got the ranking of 11th and 7th among the other universities from 2% of the respondents respectively. It was ranked 1st on the measure of recognition and unaware by 5.5% of respondents. Based on the results from the analysis of the measure of association using Cochran test, it was found that the attributes of time and cost are associated with the brand of Open University. Results from the analysis of the measure of perceived quality regarding quality of services provided by Open University to its students show that registration services rated good while study material, online tutorials and exams were assessed as fair. Result from the analysis of the price premium loyalty measures indicate that students objected to an increase in tuition over Rp.25.000,-. Satisfaction measure indicates that the level of satisfaction of the Open University students is up to the extent of liking the brand, that is like and enjoy the study at Open University. This is indicated by the highest score received for the level of liking the brand which is 70%. Result from the analysis of the measure market behavior regarding market

The impact of memory load and perceptual cues on puzzle learning by 24-month olds.

Science.gov (United States)

Barr, Rachel; Moser, Alecia; Rusnak, Sylvia; Zimmermann, Laura; Dickerson, Kelly; Lee, Herietta; Gerhardstein, Peter

2016-11-01

Early childhood is characterized by memory capacity limitations and rapid perceptual and motor development [Rovee-Collier (1996). Infant Behavior & Development, 19, 385-400]. The present study examined 2-year olds' reproduction of a sliding action to complete an abstract fish puzzle under different levels of memory load and perceptual feature support. Experimental groups were compared to baseline controls to assess spontaneous rates of production of the target actions; baseline production was low across all experiments. Memory load was manipulated in Exp. 1 by adding pieces to the puzzle, increasing sequence length from 2 to 3 items, and to 3 items plus a distractor. Although memory load did not influence how toddlers learned to manipulate the puzzle pieces, it did influence toddlers' achievement of the goal-constructing the fish. Overall, girls were better at constructing the puzzle than boys. In Exp. 2, the perceptual features of the puzzle were altered by changing shape boundaries to create a two-piece horizontally cut puzzle (displaying bilateral symmetry), and by adding a semantically supportive context to the vertically cut puzzle (iconic). Toddlers were able to achieve the goal of building the fish equally well across the 2-item puzzle types (bilateral symmetry, vertical, iconic), but how they learned to manipulate the puzzle pieces varied as a function of the perceptual features. Here, as in Exp. 1, girls showed a different pattern of performance from the boys. This study demonstrates that changes in memory capacity and perceptual processing influence both goal-directed imitation learning and motoric performance. © 2016 Wiley Periodicals, Inc.

Using the Black Scholes method for estimating high cost illness insurance premiums in Colombia

Directory of Open Access Journals (Sweden)

Liliana Chicaíza

2009-04-01

Full Text Available This article applied the Black-Scholes option valuation formula to calculating high-cost illness reinsurance premiums in the Colombian health system. The coverage pattern used in reinsuring high-cost illnesses was replicated by means of a European call option contract. The option’s relevant variables and parameters were adapted to an insurance market context. The premium estimated by the BlackScholes method fell within the range of premiums estimated by the actuarial method.

5 CFR 892.206 - Can I cancel my waiver and participate in premium conversion?

Science.gov (United States)

2010-01-01

... (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS Eligibility and Participation § 892.206 Can I cancel my waiver and participate in premium...

25 CFR 103.19 - When must the lender pay BIA the loan guaranty or insurance premium?

Science.gov (United States)

2010-04-01

... insurance premium? 103.19 Section 103.19 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR FINANCIAL ACTIVITIES LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY How a Lender Obtains a Loan Guaranty or Insurance Coverage § 103.19 When must the lender pay BIA the loan guaranty or insurance premium? The premium...

How well does consumer-based brand equity align with sales-based brand equity and marketing mix response?

NARCIS (Netherlands)

Datta, Hannes; Ailawadi, Kusum L.; van Heerde, H.J.

Brand equity is the differential preference and response to marketing effort that a product obtains because of its brand identification. Brand equity can be measured based on either consumer perceptions or on sales. Consumer-based brand equity (CBBE) measures what consumers think and feel about the

A diagnosis of eosinophilic esophagitis is associated with increased life insurance premiums.

Science.gov (United States)

Leiman, D A; Kochar, B; Posner, S; Fan, C; Patel, A; Shaheen, O; Keller, C Y; Koutlas, N T; Eluri, S; Dellon, E S

2018-05-24

Eosinophilic esophagitis (EoE) is a chronic disease that can be diagnosed at any age, but is not associated with malignancy and does not shorten lifespan. It remains unknown whether an EoE diagnosis affects insurability or insurance premium costs. We therefore aimed to determine whether a diagnosis of EoE affects the costs of life insurance. Our investigation was a secret shopper audit study whereby we contacted national insurance companies in the United States to evaluate the effect of a diagnosis of EoE on life insurance premiums. We constructed standardized case scenarios for males and females, including a 25-year-old and a 48-year-old without other comorbid conditions, who either had or did not have a diagnosis of EoE. Companies were asked for their best estimate for a $100,000 whole life insurance policy. Comparisons between median premiums were made using the Mann-Whitney U test. There were 20 national life insurance companies contacted and a total of 73 quotes were obtained. The median premium rate was similar for EoE and non-EoE cases at the younger age ($828 [IQR $576-1,020] vs. $756 [IQR $504-$804]; P = 0.10). However, the premium for the older case without EoE was 19% less expensive compared to a case with EoE ($1990 [IQR $1,248-2,350] vs. $2,375 [IQR $2,100-2568; P = 0.02]. This finding was not explained by sex or state of residence. Based on these findings, we conclude that life insurance premiums are significantly more expensive in the older patient case with EoE when compared to the same case without EoE. Patients with EoE and their providers should be aware of the additional cost associated with this diagnosis.

Estimating organic, local, and other price premiums in the Hawaii fluid milk market.

Science.gov (United States)

Loke, Matthew K; Xu, Xun; Leung, PingSun

2015-04-01

With retail scanner data, we applied hedonic price modeling to explore price premiums for organic, local, and other product attributes of fluid milk in Hawaii. Within the context of revealed preference, this analysis of organic and local attributes, under a single unified framework, is significant, as research in this area is deficient in the existing literature. This paper finds both organic and local attributes delivered price premiums over imported, conventional, whole fluid milk. However, the estimated price premium for organic milk (24.6%) is significantly lower than findings in the existing literature. Likewise, the price premium for the local attribute is estimated at 17.4%, again substantially lower compared with an earlier, stated preference study in Hawaii. Beyond that, we estimated a robust price premium of 19.7% for nutritional benefits claimed. The magnitude of this estimated coefficient reinforces the notion that nutrition information on food is deemed beneficial and valuable. Finally, package size measures the influence of product weight. With each larger package size, the estimate led to a corresponding larger price discount. This result is consistent with the practice of weight discounting that retailers usually offer with fresh packaged food. Additionally, we estimated a fairly high Armington elasticity of substitution, which suggests a relatively high degree of substitution between local and imported fluid milk when their relative price changes. Overall, this study establishes price premiums for organic, local, and nutrition benefits claimed for fluid milk in Hawaii. Copyright © 2015 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

Private Equity and Industry Performance

DEFF Research Database (Denmark)

Bernstein, Shai; Lerner, Josh; Sørensen, Morten

2017-01-01

The growth of the private equity industry has spurred concerns about its impact on the economy. This analysis looks across nations and industries to assess the impact of private equity on industry performance. We find that industries where private equity funds invest grow more quickly in terms...... of total production and employment and appear less exposed to aggregate shocks. Our robustness tests provide some evidence that is consistent with our effects being driven by our preferred channel....

Premium inflation in the Irish private health insurance market: drivers and consequences.

Science.gov (United States)

Turner, B

2013-12-01

Nearly half of the Irish population is covered by private health insurance. In recent years, premium inflation has been significantly ahead of overall inflation and has been accelerating. This has contributing to a drop in the numbers insured since the peak in 2008. The fall in the numbers with private health insurance also has implications for the public health system. Factors behind this premium inflation include rising charges for beds in public hospitals, increasing volume of treatments and increasing quality of service and cover. While some progress has been made by insurers on reducing fees paid to consultants and private hospitals, unless the quantity or quality of care are addressed then premium inflation is unlikely to abate.

Demand of Insurance under the Cost-of-Capital Premium Calculation Principle

Directory of Open Access Journals (Sweden)

Michael Merz

2014-06-01

Full Text Available We study the optimal insurance design problem. This is a risk sharing problem between an insured and an insurer. The main novelty in this paper is that we study this optimization problem under a risk-adjusted premium calculation principle for the insurance cover. This risk-adjusted premium calculation principle uses the cost-of-capital approach as it is suggested (and used by the regulator and the insurance industry.

24 CFR 213.259a - Premiums-mortgages insured pursuant to section 238(c) of the Act.

Science.gov (United States)

2010-04-01

.... All of the provisions of §§ 213.253 through 213.259 governing mortgage insurance premiums shall apply... mortgage insurance premiums due on such mortgages in accordance with §§ 213.253 through 213.259 shall be... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums-mortgages insured pursuant...

In Second Year Of Marketplaces, New Entrants, ACA 'Co-Ops,' And Medicaid Plans Restrain Average Premium Growth Rates.

Science.gov (United States)

Gabel, Jon R; Whitmore, Heidi; Green, Matthew; Stromberg, Sam T; Weinstein, Daniel S; Oran, Rebecca

2015-12-01

Premiums for health insurance plans offered through the federally facilitated and state-based Marketplaces remained steady or increased only modestly from 2014 to 2015. We used data from the Marketplaces, state insurance departments, and insurer websites to examine patterns of premium pricing and the factors behind these patterns. Our data came from 2,964 unique plans offered in 2014 and 4,153 unique plans offered in 2015 in forty-nine states and the District of Columbia. Using descriptive and multivariate analysis, we found that the addition of a carrier in a rating area lowered average premiums for the two lowest-cost silver plans and the lowest-cost bronze plan by 2.2 percent. When all plans in a rating area were included, an additional carrier was associated with an average decline in premiums of 1.4 percent. Plans in the Consumer Operated and Oriented Plan Program and Medicaid managed care plans had lower premiums and average premium increases than national commercial and Blue Cross and Blue Shield plans. On average, premiums fell by an appreciably larger amount for catastrophic and bronze plans than for gold plans, and premiums for platinum plans increased. This trend of low premium increases overall is unlikely to continue, however, as insurers are faced with mounting medical claims. Project HOPE—The People-to-People Health Foundation, Inc.

New data and an old puzzle

DEFF Research Database (Denmark)

Lee, S Hong; Byrne, Enda M; Hultman, Christina M

2015-01-01

BACKGROUND: A long-standing epidemiological puzzle is the reduced rate of rheumatoid arthritis (RA) in those with schizophrenia (SZ) and vice versa. Traditional epidemiological approaches to determine if this negative association is underpinned by genetic factors would test for reduced rates of one...

Private Equity for Retail Investors : How to efficiently involve Finnish retail investors in private equity

OpenAIRE

Moita, Angelo

2017-01-01

Private equity has been the best performing asset class for institutional investors. Meanwhile, retail investors have been left out from the asset class for several reasons, such as legislation and wealth profiling. This study aims at assessing the types of private equity vehicles that could be the most appropriate for Finnish retail investors. The study solely focuses on the investment opportunities, hence it does not cover investment behaviour. Private equity should not be a primary as...

24 CFR 207.252c - Premiums-mortgages insured pursuant to section 238(c) of the Act.

Science.gov (United States)

2010-04-01

.... All of the provisions of §§ 207.252 and 207.252a governing mortgage insurance premiums shall apply to... insurance premiums due on such mortgages in accordance with §§ 207.252 and 207.252a shall be calculated on... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Premiums-mortgages insured pursuant...

Europe vs. the U.S. A New Look at the Syndicated Loan Pricing Puzzle

OpenAIRE

Burietz, Aurore; Oosterlinck, Kim; Szafarz, Ariane

2017-01-01

According to the syndicated loan pricing puzzle (Carey and Nini, Journal of Finance, 2007) interest rates charged to corporate borrowers are lower in Europe than in the U.S. Our investigation suggests that controlling for region-specific credit ratings makes the Europe-U.S. gap insignificant, and solves the puzzle. We speculate that the puzzle originates from the lack of uniformity of accounting standards.

Did the Affordable Care Act's Dependent Coverage Mandate Increase Premiums?

OpenAIRE

Briggs Depew; James Bailey

2014-01-01

We investigate the impact of the Affordable Care Act's dependent coverage mandate on insurance premiums. The expansion of dependent coverage under the ACA allows young adults to remain on their parent's private health insurance plans until the age of 26. We find that the mandate has led to a 2.5-2.8 percent increase in premiums for health insurance plans that cover children, relative to single-coverage plans. We find no evidence that the mandate caused an increase in the amount of the employe...

Framework for Evaluation of Equity Initiatives

Science.gov (United States)

Bexley, Emmaline; Harris, Kerri-Lee; James, Richard

2010-01-01

The Framework for Evaluation of Equity Initiatives has been prepared to support the Go8 Equity Strategy. Its purpose is to assist Group of Eight (Go8) universities to evaluate the effectiveness of their equity initiatives and interventions in the context of federal policies and the distinctive missions and responsibilities of the individual Go8…

Are Integrated Plan Providers Associated With Lower Premiums on the Health Insurance Marketplaces?

Science.gov (United States)

La Forgia, Ambar; Maeda, Jared Lane K; Banthin, Jessica S

2018-04-01

As the health insurance industry becomes more consolidated, hospitals and health systems have started to enter the insurance business. Insurers are also rapidly acquiring providers. Although these "vertically" integrated plan providers are small players in the insurance market, they are becoming more numerous. The health insurance marketplaces (HIMs) offer a unique setting to study integrated plan providers relative to other insurer types because the HIMs were designed to promote competition. In this descriptive study, the authors compared the premiums of the lowest priced silver plans of integrated plan providers with other insurer types on the 2015 and 2016 HIMs. Integrated plan providers were associated with modestly lower premiums relative to most other insurer types. This study provides early insights into premium competition on the HIMs. Examining integrated plan providers as a separate insurer type has important policy implications because they are a growing segment of the marketplaces and their pricing behavior may influence future premium trends.

Sustainability : Intergeneration Equity and Environment

Energy Technology Data Exchange (ETDEWEB)

Kim, Y.D. [Korea Energy Economics Institute, Euiwang (Korea)

2001-06-01

Regarding intergenerational equity as prerequisite for sustainability, we derive an optimal investment rule for intergenerational equity from an optimization model allowing for capital accumulation and pollution. This rule provides a condition for intergenerational equity such that an economy maintains constant net value of investment the difference between the physical capital investment value and the environmental resource depletion(pollution) value. This rule is more generalized condition for intergenerational equity than the 'keep capital intact' rule suggested by Hartwick(1977) and Solow(1999), in a sense that this rule includes their condition as a special. Also, we expect this rule to offer an empirical measure of sustainability. In addition, we discuss a variety of recent environmental issues in practice, especially associated with the implications from the rule. (author). 13 refs.

Gender, equity, and job satisfaction.

Science.gov (United States)

1992-02-01

Although equity theory has served as a theoretical framework applying to most individuals in most situations, empirical research suggests that gender may affect the utility of equity theory in explaining organizational behaviors. Studies have indicat...

Puzzle Imaging: Using Large-Scale Dimensionality Reduction Algorithms for Localization.

Science.gov (United States)

Glaser, Joshua I; Zamft, Bradley M; Church, George M; Kording, Konrad P

2015-01-01

Current high-resolution imaging techniques require an intact sample that preserves spatial relationships. We here present a novel approach, "puzzle imaging," that allows imaging a spatially scrambled sample. This technique takes many spatially disordered samples, and then pieces them back together using local properties embedded within the sample. We show that puzzle imaging can efficiently produce high-resolution images using dimensionality reduction algorithms. We demonstrate the theoretical capabilities of puzzle imaging in three biological scenarios, showing that (1) relatively precise 3-dimensional brain imaging is possible; (2) the physical structure of a neural network can often be recovered based only on the neural connectivity matrix; and (3) a chemical map could be reproduced using bacteria with chemosensitive DNA and conjugative transfer. The ability to reconstruct scrambled images promises to enable imaging based on DNA sequencing of homogenized tissue samples.

Puzzles in studies of quantum chaos

International Nuclear Information System (INIS)

Xu Gongou

1994-01-01

Puzzles in studies of quantum chaos are discussed. From the view of global properties of quantum states, it is clarified that quantum chaos originates from the break-down of invariant properties of quantum canonical transformations. There exist precise correspondences between quantum and classical chaos

The Closed-End Funds Puzzle: A Survey Review

Directory of Open Access Journals (Sweden)

Marta Charrón

2009-09-01

Full Text Available The main objective of this paper is to explore the most salient research aimed at explaining the closed-end fund puzzle from both the traditional and behavioral finance perspectives. It provides a better understanding of closed-end fund behavior and motivates further research of closed-end funds, market efficiency, asset pricing and the traditional and behavioral finance paradigms. So far, none of the possible explanations from either traditional finance or behavioral finance have been able to fully account for the occurrence of the puzzle. It continues to be an important issue in the long standing debate between traditional finance and behavioral finance.

THE BORROWER CHARACTERISTICS IN HOT EQUITY MARKETS

Directory of Open Access Journals (Sweden)

HALIL DINCER KAYA

2017-06-01

Full Text Available In this study, I examine the characteristics of U.S. corporate borrowers (public debt, private placement, and syndicated loan firms in HOT versus COLD equity markets. My main objective is to see the characteristics of firms that choose debt financing even when the equity market is HOT. HOT equity markets are defined as the top twenty percent of the months in terms of the de-trended number of equity offerings. I find that the HOT equity market borrowers generally have higher market-to-book ratios compared to the COLD market borrowers. Also, in HOT equity markets, the public debt firms (i.e. the corporate bond issuers tend to have fewer tangible assets, the private placement firms tend to be smaller and highly levered, and the syndicated loan firms tend to be smaller, more profitable, and less levered compared to the COLD market firms. When I look at the number of transactions in each market, I find that when the equity market is active (i.e. HOT, the syndicated loan market is even more active. During these periods, the public debt market is also active (although not as much as the equity or the syndicated loan markets. When I look at the sizes of the transactions in each market, I find that the private placements tend to be significantly larger in HOT markets compared to COLD markets. I conclude that while the equity, the public debt, and the syndicated loan markets move together in terms of market activity, the equity market and the private placement markets move together in terms of the size of the transaction.

Puzzle based teaching versus traditional instruction in electrocardiogram interpretation for medical students--a pilot study.

Science.gov (United States)

Rubinstein, Jack; Dhoble, Abhijeet; Ferenchick, Gary

2009-01-13

Most medical professionals are expected to possess basic electrocardiogram (EKG) interpretation skills. But, published data suggests that residents' and physicians' EKG interpretation skills are suboptimal. Learning styles differ among medical students; individualization of teaching methods has been shown to be viable and may result in improved learning. Puzzles have been shown to facilitate learning in a relaxed environment. The objective of this study was to assess efficacy of teaching puzzle in EKG interpretation skills among medical students. This is a reader blinded crossover trial. Third year medical students from College of Human Medicine, Michigan State University participated in this study. Two groups (n = 9) received two traditional EKG interpretation skills lectures followed by a standardized exam and two extra sessions with the teaching puzzle and a different exam. Two other groups (n = 6) received identical courses and exams with the puzzle session first followed by the traditional teaching. EKG interpretation scores on final test were used as main outcome measure. The average score after only traditional teaching was 4.07 +/- 2.08 while after only the puzzle session was 4.04 +/- 2.36 (p = 0.97). The average improvement after the traditional session was followed up with a puzzle session was 2.53 +/- 1.94 while the average improvement after the puzzle session was followed with the traditional session was 2.08 +/- 1.73 (p = 0.67). The final EKG exam score for this cohort (n = 15) was 84.1 compared to 86.6 (p = 0.22) for a comparable sample of medical students (n = 15) at a different campus. Teaching EKG interpretation with puzzles is comparable to traditional teaching and may be particularly useful for certain subgroups of students. Puzzle session are more interactive and relaxing, and warrant further investigations on larger scale.

Venture Capital and Other Private Equity: A Survey

OpenAIRE

Andrew Metrick; Ayako Yasuda

2010-01-01

We review the theory and evidence on venture capital (VC) and other private equity: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between (i) private equity managers and their portfolio companies and (ii) private equity managers and their investors (limited partners), and how/whether these contractual designs affect outcomes. Findings highlig...

JIGSAW PUZZLE IMPROVE FINE MOTOR ABILITIES OF UPPER EXTREMITIES IN POST-STROKE ISCHEMIC CLIENTS

Directory of Open Access Journals (Sweden)

Kusnanto Kusnanto

2017-06-01

Full Text Available Introduction: Ischemic stroke is a disease caused by focal cerebral ischemia, where is a decline in blood flow that needed for neuronal metabolism, leading to neurologic deficit include motor deficit such as fine motor skills impairment. Therapy of fine motor skills disorders is to improve motor function, prevent contractures and complications. These study aimed to identify the effect of playing Jigsaw Puzzle on muscle strength, extensive motion, and upper extremity fine motor skills in patients with ischemic stroke at Dr. Moewardi Hospital, Surakarta. Methods: Experimental Quasi pre-posttest one group control. The number of samples were 34 respondents selected using purposive sampling technique. The samples were divided into intervention and control groups. The intervention group was 17 respondents who were given standard treatment hospital and played Jigsaw Puzzle 2 times a day for six days. Control group is one respondent given by hospital standard therapy without given additional Jigsaw Puzzle game. Evaluation of these research is done on the first and seventh day for those groups. Result: The results showed that muscle strength, the range of joint motion and fine motor skills of upper extremities increased (p = 0.001 significantly after being given the Jigsaw Puzzle games. These means playing Jigsaw Puzzle increase muscle strength, the range of joint motion and upper extremity fine motor skill of ischemic stroke patients. Discussion and conclusion: Jigsaw puzzle game administration as additional rehabilitation therapy in upper extremity fine motor to minimize the occurrence of contractures and motor disorders in patients with ischemic stroke. Jigsaw puzzle game therapy capable of creating repetitive motion as a key of neurological rehabilitation in Ischemic Stroke. This study recommends using jigsaw puzzle game as one of intervention in the nursing care of Ischemic Stroke patients.

Brief report: Quantifying the impact of autism coverage on private insurance premiums.

Science.gov (United States)

Bouder, James N; Spielman, Stuart; Mandell, David S

2009-06-01

Many states are considering legislation requiring private insurance companies to pay for autism-related services. Arguments against mandates include that they will result in higher premiums. Using Pennsylvania legislation as an example, which proposed covering services up to $36,000 per year for individuals less than 21 years of age, this paper estimates potential premium increases. The estimate relies on autism treated prevalence, the number of individuals insured by affected plans, mean annual autism expenditures, administrative costs, medical loss ratio, and total insurer revenue. Current treated prevalence and expenditures suggests that premium increases would approximate 1%, with a lower bound of 0.19% and an upper bound of 2.31%. Policy makers can use these results to assess the cost-effectiveness of similar legislation.

Confronting the Equity "Learning Problem" through Practitioner Inquiry

Science.gov (United States)

Ching, Cheryl D.

2018-01-01

This study examined how participation in an inquiry-based workshop on assessing course syllabi for equity-mindedness and cultural inclusivity fostered community college math faculty learning about racial/ethnic equity and equity-mindedness. Findings show that the workshop prompted reflection on what equity means and how participants' teaching…

Puzzles in modern biology. I. Male sterility, failure reveals design [version 1; referees: 2 approved

Directory of Open Access Journals (Sweden)

Steven A. Frank

2016-09-01

Full Text Available Many human males produce dysfunctional sperm. Various plants frequently abort pollen. Hybrid matings often produce sterile males. Widespread male sterility is puzzling. Natural selection prunes reproductive failure. Puzzling failure implies something that we do not understand about how organisms are designed. Solving the puzzle reveals the hidden processes of design.

A puzzling aspect of the effect of advance notice on unemployment

DEFF Research Database (Denmark)

Addision, John; Blackburn, McKinley L.

1995-01-01

Displaced male workers with generous periods of advance notice tend to move directly into reemployment faster than their non-notified counterparts but once unemployed tend to escape from unemployment much more slowly. We examine three potential explanations for this puzzle associated with unemplo......Displaced male workers with generous periods of advance notice tend to move directly into reemployment faster than their non-notified counterparts but once unemployed tend to escape from unemployment much more slowly. We examine three potential explanations for this puzzle associated...... with unemployment insurance, the endogeneity of notice, and differential search intensity. Of these alternatives, the evidence suggests that it is the additional but less productive search time during the notice interval that creates the appearance of a puzzle....

The infinity puzzle

CERN Document Server

Close, Frank

2011-01-01

We are living in a Golden Age of Physics. Forty or so years ago, three brilliant, yet little-known scientists - an American, a Dutchman, and an Englishman - made breakthroughs which later inspired the construction of the Large Hadron Collider at CERN in Geneva: a 27 kilometer-long machine which has already costs ten billion dollars, taken twenty years to build, and now promises to reveal how the universe itself came to be. The Infinity Puzzle is the inside story of those forty years of research, breakthrough, and endeavour. Peter Higgs, Gerard 't Hooft and James Bjorken, were the three scienti

The application of variable sampling method in the audit testing of insurance companies' premium income

Directory of Open Access Journals (Sweden)

Jovković Biljana

2012-12-01

Full Text Available The aim of this paper is to present the procedure of audit sampling using the variable sampling methods for conducting the tests of income from insurance premiums in insurance company 'Takovo'. Since the incomes from the insurance premiums from vehicle insurance and third-party vehicle insurance have the dominant share of the insurance company's income, the application of this method will be shown in the audit examination of these incomes - incomes from VI and TPVI premiums. For investigating the applicability of these methods in testing the income of other insurance companies, we shall implement the method of variable sampling in the audit testing of the premium income from the three leading insurance companies in Serbia, 'Dunav', 'DDOR' and 'Delta Generali' Insurance.

Bullet-Block Science Video Puzzle

Science.gov (United States)

Shakur, Asif

2015-01-01

A science video blog, which has gone viral, shows a wooden block shot by a vertically aimed rifle. The video shows that the block hit dead center goes exactly as high as the one shot off-center. (Fig. 1). The puzzle is that the block shot off-center carries rotational kinetic energy in addition to the gravitational potential energy. This leads a…

Failure to pay for social health insurance premiums: Acts of protest or desperation?

Science.gov (United States)

von Wyl, Viktor; Beck, Konstantin

2015-01-01

In Switzerland, basic health insurance is mandatory for all inhabitants, but a rising number of insured have arrears in premium payments, potentially leading to coverage suspension. We aimed at characterizing insured with debt enforcement proceedings with respect to socio-demographic and health utilization aspects. Cross-sectional analysis of 508.000 insured with basic health insurance contracts in 2013, of whom 14,000 (2.8%) with debt enforcement proceedings, from 11 Swiss cantons. Groups were characterized using logistic regression and latent class analysis. Insured with debt enforcement proceedings were more likely to be young, male and without dependents (partner, kids). Having no supplementary insurance and receiving partial premium subsidies was associated with an increased debt enforcement proceedings risk. Within the debt enforcement proceedings group, three subgroups were identified: 60% were young and seemingly healthy, with a below-average fraction of premium subsidy recipients (18%) and low out-of-pocket payments in prior year (median Swiss Francs 0). Two groups consisted of relatively ill elderly persons (22%, 99% of whom with chronic illnesses) or families (18%), many of whom (29% and 51%) were recipients of premium subsidies. Median out-of-pocket payments in the prior year were high (Swiss Francs 625 and 688, respectively). Sixty percent of premium arrears derive from young insured without apparent financial problems; 40% are owed by elderly and families, which are potentially hurt by coverage loss.

History of Pay Equity Studies.

Science.gov (United States)

Barbezat, Debra A.

2002-01-01

Traces the evolution of salary-equity studies over time, and how the findings have changed with regard to pay differences by gender and race/ethnicity. Reviews the literature on salary equity for both faculty and nonfaculty academic employees. (EV)

The Puzzle of the Scandinavian Welfare State and Social Trust

DEFF Research Database (Denmark)

Svendsen, Gunnar Lind Haase; Svendsen, Gert Tinggaard

2015-01-01

The Scandinavian welfare model is a puzzle to economists: It works economically, even though free-riding should prevail with its explosive cocktail of high taxation and high social benefits. One overlooked solution to the puzzle could be the unique stock of social trust present in Scandinavia. Here......, the four Scandinavian countries (Norway, Denmark, Sweden, and Finland) form the top three with scores above 60 percent social trust on a ranking that covers 94 countries from all over the world....

Crossword Puzzle Makes It Fun: Introduce Green Manufacturing in Wood Technology Courses

Science.gov (United States)

Iley, John L.; Hague, Doug

2012-01-01

Sustainable, or "green," manufacturing and its practices are becoming more and more a part of today's industry, including wood product manufacturing. This article provides introductory information on green manufacturing in wood technology and a crossword puzzle based on green manufacturing terms. The authors use the puzzle at the college level to…

What Puzzles Teachers in Rio de janeiro, and What Keeps Them Going?

Science.gov (United States)

Lyra, Isolina; Fish, Solange; Braga, Walewska Gomes

2003-01-01

Focuses on the key mechanism of "puzzling" in Exploratory Practice (EP), a form of practitioner research, and the critical issue of sustainability in the context of volunteer teacher development work in Rio de Janeiro, Brazil. Investigated puzzles (concerns) of language teachers and grouped them into six categories; motivation, anxiety,…

Penyelesaian Masalah 8-Puzzle dengan Algoritma Steepest-Ascent Hill Climbing

Directory of Open Access Journals (Sweden)

David Abraham

2016-03-01

Full Text Available 8 puzzle merupakan salah satu implementasi dari Artificial Intelegence. Dalam proses penyelesaiannya banyak terdapat algoritma-algoritma pencarian yang dapat diterapkan. Solusi 8 puzzle akan lebih cepat diperoleh jika digunakan prinsip array dengan variasi algoritma Steepest-Ascent Hill Climbing (Hill Climbing dengan memilih kemiringan yang paling tajam / curam dengan parameter heuristik posisi yang benar dan heuristik jarak serta dikombinasikan dengan LogList sebagai penyimpanan state state yang pernah dilalui untuk menanggulangi permasalah pada algoritma hill climbing itu sendiri dan terhindar dari looping state yang pernah dilalui. Metode-metode yang termasuk ke dalam teknik pencarian yang berdasarkan pada fungsi heuristik salah satu diantaranya adalah Hill Climbing, Best First Search, A* (A Bintang. Loglist merupakan tempat penyimpanan setiap kunjungan dari state-state puzzle yang telah dilakukan untuk menghindari looping atau pengulangan terhadap state yang pernah dilalui. Untuk menanggulangi permasalahan pada SteepestAscent Hill Climbing.

A Resolution of the Purchasing Power Parity Puzzle: Imperfect Knowledge and Long Swings

DEFF Research Database (Denmark)

Frydman, Roman; Goldberg, Michael D.; Johansen, Søren

2009-01-01

Asset prices undergo long swings that revolve around benchmark levels. In currency markets, fluctuations involve real exchange rates that are highly persistent and that move in near-parallel fashion with nominal rates. The inability to explain these two regularities with one model has been called...... the "purchasing power parity puzzle." In this paper, we trace the puzzle to exchange rate modelers' use of the "Rational Expectations Hypothesis." We show that once imperfect knowledge is recognized, a monetary model is able to account for the puzzle, as well as other salient features of the data, including...

Equity Portfolio Management Using Option Price Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by usi...

The Effects of Premium Changes on ALL Kids

Data.gov (United States)

U.S. Department of Health & Human Services — The Effects of Premium Changes on ALL Kids, Alabamas CHIP Program Unlike many other CHIP programs, ALL Kids is a standalone program that provides year long...

Designing Psychological Treatments for Scalability: The PREMIUM Approach.

Directory of Open Access Journals (Sweden)

Sukumar Vellakkal

Full Text Available Lack of access to empirically-supported psychological treatments (EPT that are contextually appropriate and feasible to deliver by non-specialist health workers (referred to as 'counsellors' are major barrier for the treatment of mental health problems in resource poor countries. To address this barrier, the 'Program for Effective Mental Health Interventions in Under-resourced Health Systems' (PREMIUM designed a method for the development of EPT for severe depression and harmful drinking. This was implemented over three years in India. This study assessed the relative usefulness and costs of the five 'steps' (Systematic reviews, In-depth interviews, Key informant surveys, Workshops with international experts, and Workshops with local experts in the first phase of identifying the strategies and theoretical model of the treatment and two 'steps' (Case series with specialists, and Case series and pilot trial with counsellors in the second phase of enhancing the acceptability and feasibility of its delivery by counsellors in PREMIUM with the aim of arriving at a parsimonious set of steps for future investigators to use for developing scalable EPT.The study used two sources of data: the usefulness ratings by the investigators and the resource utilization. The usefulness of each of the seven steps was assessed through the ratings by the investigators involved in the development of each of the two EPT, viz. Healthy Activity Program for severe depression and Counselling for Alcohol Problems for harmful drinking. Quantitative responses were elicited to rate the utility (usefulness/influence, followed by open-ended questions for explaining the rankings. The resources used by PREMIUM were computed in terms of time (months and monetary costs.The theoretical core of the new treatments were consistent with those of EPT derived from global evidence, viz. Behavioural Activation and Motivational Enhancement for severe depression and harmful drinking respectively

Health Insurance Marketplaces: Early Findings on Changes in Plan Availability and Premiums in Rural Places, 2014-2015.

Science.gov (United States)

Barker, Abigail; McBride, Timothy D; Kemper, Leah M; Mueller, Keith

2015-05-01

The Patient Protection and Affordable Care Act established Health Insurance Marketplaces (HIMs) in all 50 states and the District of Columbia. This policy brief assesses the changes in HIMs from 2014 to 2015 in terms of choices offered and premiums charged, with emphasis on how these measures vary across rural and urban places. Key Findings. (1) In 74 percent of HIM rating areas, the number of firms operating increased by at least one, while the number of firms decreased in only about 6 percent of rating areas. Further, 64 percent of rating areas with fewer than 50 persons per square mile gained at least one firm. (2) There was no consistent pattern of premium increases with respect to rating area population density (used as a proxy here for the degree of "ruralness" of the rating areas). Nationally, rural areas are not experiencing higher premium increases than their urban counterparts. In fact, the lowest increases in second-lowest cost silver plan premiums occurred in the medium-density population rating areas of 51 to 300 persons per square mile. (3) Average adjusted premiums increased from 2014 to 2015 by 6.7 percent in Federally-Facilitated Marketplaces (FFMs) compared to just 1.4 percent in State-Based Marketplaces (SBMs). Regardless of SBM or FFM status, premium increases across the United States were negatively correlated with the number of firms entering the market. (4) Analysis of the most rural states, in terms of percentage of the population classified as nonmetropolitan, shows that, in general, premiums fell significantly in rural places where they had been rather high, and they increased in rural places where they had been rather low. The five rural states with the lowest premium increases had an average of 0.17 firms entering the market, while the five with the highest premium increases had an average of 0.50 firms exiting the market.

Peelle's pertinent puzzle: Way of solution

International Nuclear Information System (INIS)

Pronyaev, V.G.

2003-01-01

The effect of evident bias of evaluated data below the majority of experimental data observed in general least-squares model fitting of these data is called as Peelle's Pertinent Puzzle (PPP). Since the transformation of the central values is trivial, the solution by transformation of covariance matrices is deducted

Consumer Willingness to Pay a Premium for Halal Goat Meat: A Case from Atlanta, Georgia

OpenAIRE

Ibrahim, Mohammed

2011-01-01

The growth in goat meat demand is attributed to the influx of immigrants from goat-meat-eating countries into the U.S. This Paper examines the willingness to pay a premium for halal goat meat. The factors that significantly impact the willingness to pay a premium for halal goat meat in Atlanta include income, current consumption, household size, and marital status. Results suggest that the mean willingness to pay a premium for the halal attribute is 50 cents per pound of goat meat.

26 CFR 1.249-1 - Limitation on deduction of bond premium on repurchase.

Science.gov (United States)

2010-04-01

... A issues a callable 20-year convertible bond at face for $1,000 bearing interest at 10 percent per... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Limitation on deduction of bond premium on... deduction of bond premium on repurchase. (a) Limitation—(1) General rule. No deduction is allowed to the...

Modeling foreign exchange risk premium in Armenia

Czech Academy of Sciences Publication Activity Database

Poghosyan, Tigran; Kočenda, Evžen; Zemčík, P.

2008-01-01

Roč. 44, č. 1 (2008), s. 41-61 ISSN 1540-496X R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : foreign exchange risk premium * Armenia * affine term structure models Subject RIV: AH - Economics Impact factor: 0.611, year: 2008

Relative Affordability of Health Insurance Premiums under CHIP Expansion Programs and the ACA.

Science.gov (United States)

Gresenz, Carole Roan; Laugesen, Miriam J; Yesus, Ambeshie; Escarce, José J

2011-10-01

Affordability is integral to the success of health care reforms aimed at ensuring universal access to health insurance coverage, and affordability determinations have major policy and practical consequences. This article describes factors that influenced the determination of affordability benchmarks and premium-contribution requirements for Children's Health Insurance Program (CHIP) expansions in three states that sought to universalize access to coverage for youth. It also compares subsidy levels developed in these states to the premium subsidy schedule under the Affordable Care Act (ACA) for health insurance plans purchased through an exchange. We find sizeable variability in premium-contribution requirements for children's coverage as a percentage of family income across the three states and in the progressivity and regressivity of the premium-contribution schedules developed. These findings underscore the ambiguity and subjectivity of affordability standards. Further, our analyses suggest that while the ACA increases the affordability of family coverage for families with incomes below 400 percent of the federal poverty level, the evolution of CHIP over the next five to ten years will continue to have significant implications for low-income families.

Certification and equity: Applying an “equity framework” to compare certification schemes across product sectors and scales

International Nuclear Information System (INIS)

McDermott, Constance L.

2013-01-01

Highlights: ► Assessing equity requires a comprehensive conceptual framework. ► The framing of equity varies across sectors and schemes. ► Schemes vary in prioritizing the environment, communities or equity in the supply chain. ► Addressing contextual equity is essential lest certification reinforce inequities of global trade. -- Abstract: This paper applies a comprehensive equity framework to compare the priorities and trade-offs of different environmental and social certification schemes. The schemes selected for comparison are the Forest Stewardship Council (FSC), the Programme for the Endorsement of Forest Certification Schemes (PEFC), the Fairtrade Labelling Organization (FLO), and the Climate, Community and Biodiversity Alliance (CCBA). The framework considers how the parameters of equity are set in certification scheme governance, including who are the primary decision-makers and intended beneficiaries, and how this is reflected in the content of scheme standards and certification outcomes. Each of these parameters is assessed across the dimensions of procedural, contextual and distributive equity. Results reveal significant variation in the prioritization of the environment, non-commercial stakeholders or equity across the supply chain. In forestry, the FSC has placed primary emphasis on the procedural rights of non-commercial interests in standard-setting processes, the contextual rights of indigenous peoples, and the conservation of natural ecosystems, while the PEFC places more emphasis on procedural equity for producers and the legitimacy of sovereign governments as rule-makers. Both FLO and CCBA prioritize distributive equity regarding the sharing of material benefits with small-scale and/or community producers or workers, while FLO also emphasizes the contextual issue of “empowerment” and capacity-building. In all schemes, contextual factors related to capacity and access have disproportionately advantaged Northern and large

An Empirical Evaluation of Puzzle-Based Learning as an Interest Approach for Teaching Introductory Computer Science

Science.gov (United States)

Merrick, K. E.

2010-01-01

This correspondence describes an adaptation of puzzle-based learning to teaching an introductory computer programming course. Students from two offerings of the course--with and without the puzzle-based learning--were surveyed over a two-year period. Empirical results show that the synthesis of puzzle-based learning concepts with existing course…

The influence of customer based brand ekvity on customer responses – the newly opened West Hill Mall in Ghana

Directory of Open Access Journals (Sweden)

Amegbe Hayford

2016-03-01

Full Text Available The interest of this study is to understand customer based brand equity and its effect on consumers’ willingness to pay price premiums, consumers’ attitude towards brand preference and purchase intention at the newly open West Hills Mall in Ghana. The data for the study was collected from 400 customers who went to shop at the West Hills Mall. Using a confirmatory factor analysis and path analyses it was found out that brand preference and purchase intension is significantly related to band equity. However, consumers’ willingness to pay price premiums is not significantly related to brand equity. Possible future research could look at involving customers from more than one shopping Mall in the country because of the cultural differences in customer preference. Also, performance measurement and financial performance could by studied to help marketing managers and marketing planners to know the importance of brand equity in running shopping Malls.

Supersymmetry, the flavour puzzle and rare B decays

International Nuclear Information System (INIS)

Straub, David Michael

2010-01-01

The gauge hierarchy problem and the flavour puzzle belong to the most pressing open questions in the Standard Model of particle physics. Supersymmetry is arguably the most popular framework of physics beyond the Standard Model and provides an elegant solution to the gauge hierarchy problem; however, it aggravates the flavour puzzle. In the first part of this thesis, I discuss several approaches to address the flavour puzzle in the minimal supersymmetric extension of the Standard Model and experimental tests thereof: supersymmetric grand unified theories with a unification of Yukawa couplings at high energies, theories with minimal flavour violation and additional sources of CP violation and theories with gauge mediation of supersymmetry breaking and a large ratio of Higgs vacuum expectation values. In the second part of the thesis, I discuss the phenomenology of two rare B meson decay modes which are promising probes of physics beyond the Standard Model: The exclusive B → K * l + l - decay, whose angular decay distribution will be studied at LHC and gives access to a large number of observables and the b→sνanti ν decays, which are in the focus of planned high-luminosity Super B factories. I discuss the predictions for these observables in the Standard Model and their sensitivity to New Physics. (orig.)

An overview of heavy quark energy loss puzzle at RHIC

International Nuclear Information System (INIS)

Djordjevic, Magdalena

2006-01-01

We give a theoretical overview of the heavy quark tomography puzzle posed by recent non-photonic single electron data from central Au+Au collisions at √s = 200A GeV. We show that radiative energy loss mechanisms alone are not able to explain large single electron suppression data, as long as realistic parameter values are assumed. We argue that a combined collisional and radiative pQCD approach can solve a substantial part of the non-photonic single electron puzzle

Dissolving the Puzzle of Resultant Moral Luck.

Science.gov (United States)

Levy, Neil

The puzzle of resultant moral luck arises when we are disposed to think that an agent who caused a harm deserves to be blamed more than an otherwise identical agent who did not. One popular (but controversial) perspective on resultant moral luck explains our dispositions to produce different judgments with regard to the agents who feature in these cases as a product not of what they genuinely deserve but of our epistemic situation. On this account, there is no genuine resultant moral luck; there is only luck in what evidence becomes available to observers. In this paper, I develop an evolutionary account of our inclination to take the results of actions as evidence for the mental states of agents, thereby explaining why the resulting intuitions are recalcitrant to correction. The account explains why the puzzle of resultant moral luck arises: because our disposition to take the harms agents cause as evidence of their mental states can produce intuitions which conflict with those that arise when we examine agents' mental states without reference to the results of their actions. The account also helps to solve the puzzle of resultant moral luck, by providing a strong reason to ignore the intuitions caused by our disposition to regard actual harms as evidence of mental states. Since these intuitions arise using an unreliable proxy for agents' mental states, they ought to be trumped by more reliable evidence.

Is Nordic Private Equity Different?

DEFF Research Database (Denmark)

Spliid, Robert

2013-01-01

Most research on private equity is based on American theory, tested on American empirical data. Nevertheless, the private equity concept has gained a solid foothold in the Nordic region, especially in Sweden. This article analyzes whether American-biased assumptions prevail in the Nordic countries...

Workplace Variation in Fatherhood Wage Premiums: Do Formalization and Performance Pay Matter?

OpenAIRE

Fuller, Sylvia; Cooke, Lynn

2018-01-01

Parenthood contributes substantially to broader gender wage inequality. The intensification of gendered divisions of paid and unpaid work after the birth of a child create unequal constraints and expectations such that, all else equal, mothers earn less than childless women, but fathers earn a wage premium. The fatherhood wage premium, however, varies substantially among men. Analyses of linked workplace-employee data from Canada reveal how organizational context conditions educational, occup...

Multicriteria Estimated Cost of Equity Capital Estimación multicriterio del costo de capital patrimonial

Directory of Open Access Journals (Sweden)

Juan Carlos Gutiérrez Betancur

2009-12-01

Full Text Available The estimation of the cost of equity capital is a key input to the capital budgeting  process when the firm uses internal financing. Financial analyst and managers usually utilize the CAPM to estimate the cost of equity which requires both measurement of  the market risk premium and estimation of beta. For publicly traded firms, calculating the cost of equity is entirely based on information from the financial markets. Non traded firms and small businesses do not have sufficient market based information. This article proposes a multicriteria model to determine the cost of equity for non traded firms. The Analytic Hierarchy Process developed by Thomas Saaty is the proposed methodology for deriving relative priorities of tangible and intangible corporate risk factors. The model requires business managers to identify the relevant information sources for the required input data. The inconsistencies checking mechanism within the AHP model allows management to identify inconsistencies, to revise prior judgments and to synthesize coherently.ResumenLa estimación del costo del capital propio es un elemento clave en el proceso de presupuestación de capital. Analistas y gerentes financieros utilizan el CAPM para estimar el costo del patrimonio, el cual requiere tanto la medición de la prima de riesgo del mercado como la estimación de beta. En el caso de compañías públicamente cotizadas y bursátiles, el cálculo del costo del patrimonio se basa totalmente en la información disponible en los mercados financieros. Las firmas no transadas en bolsa no cuentan con suficiente información de mercado que permita construir un comparable exactamente válido. Este artículo propone un modelo multicriterio para determinar el costo del capital propio de compañías no transadas en bolsa. El Proceso Analítico de Jerarquías desarrollado por Thomas Saaty soporta la metodología propuesta para derivar prioridades relativas de factores de riesgo corporativos

Jigsaw Puzzles As Cognitive Enrichment (PACE) - the effect of solving jigsaw puzzles on global visuospatial cognition in adults 50 years of age and older: study protocol for a randomized controlled trial.

Science.gov (United States)

Fissler, Patrick; Küster, Olivia C; Loy, Laura S; Laptinskaya, Daria; Rosenfelder, Martin J; von Arnim, Christine A F; Kolassa, Iris-Tatjana

2017-09-06

Neurocognitive disorders are an important societal challenge and the need for early prevention is increasingly recognized. Meta-analyses show beneficial effects of cognitive activities on cognition. However, high financial costs, low intrinsic motivation, logistic challenges of group-based activities, or the need to operate digital devices prevent their widespread application in clinical practice. Solving jigsaw puzzles is a cognitive activity without these hindering characteristics, but cognitive effects have not been investigated yet. With this study, we aim to evaluate the effect of solving jigsaw puzzles on visuospatial cognition, daily functioning, and psychological outcomes. The pre-posttest, assessor-blinded study will include 100 cognitively healthy adults 50 years of age or older, who will be randomly assigned to a jigsaw puzzle group or a cognitive health counseling group. Within the 5-week intervention period, participants in the jigsaw puzzle group will engage in 30 days of solving jigsaw puzzles for at least 1 h per day and additionally receive cognitive health counseling. The cognitive health counseling group will receive the same counseling intervention but no jigsaw puzzles. The primary outcome, global visuospatial cognition, will depict the average of the z-standardized performance scores in visuospatial tests of perception, constructional praxis, mental rotation, processing speed, flexibility, working memory, reasoning, and episodic memory. As secondary outcomes, we will assess the eight cognitive abilities, objective and subjective visuospatial daily functioning, psychological well-being, general self-efficacy, and perceived stress. The primary data analysis will be based on mixed-effects models in an intention-to-treat approach. Solving jigsaw puzzles is a low-cost, intrinsically motivating, cognitive leisure activity, which can be executed alone or with others and without the need to operate a digital device. In the case of positive results

Health benefits in 2013: moderate premium increases in employer-sponsored plans.

Science.gov (United States)

Claxton, Gary; Rae, Matthew; Panchal, Nirmita; Damico, Anthony; Whitmore, Heidi; Bostick, Nathan; Kenward, Kevin

2013-09-01

Employer-sponsored health insurance premiums rose moderately in 2013, the annual Kaiser Family Foundation/Health Research and Educational Trust (Kaiser/HRET) Employer Health Benefits Survey found. In 2013 single coverage premiums rose 5 percent to $5,884, and family coverage premiums rose 4 percent to $16,351. The percentage of firms offering health benefits (57 percent) was similar to that in 2012, as was the percentage of workers at offering firms who were covered by their firm's health benefits (62 percent). The share of workers with a deductible for single coverage increased significantly from 2012, as did the share of workers in small firms with annual deductibles of $1,000 or more. Most firms (77 percent), including nearly all large employers, continued to offer wellness programs, but relatively few used incentives to encourage employees to participate. More than half of large employers offering health risk appraisals to workers offered financial incentives for completing the appraisal.

The individual insurance market before reform: low premiums and low benefits.

Science.gov (United States)

Whitmore, Heidi; Gabel, Jon R; Pickreign, Jeremy; McDevitt, Roland

2011-10-01

Based on analyses of individual market health plans sold through ehealthinsurance and enrollment information collected from individual market carriers, this article profiles the individual health insurance market in 2007, before health reform. The article examines premiums, plan enrollment, cost sharing, and covered benefits and compares individual and group markets. Premiums for the young are lower than in the group market but higher for older people. Cost sharing is substantial in the individual insurance market. Seventy-eight percent of people were enrolled in plans with deductibles for single coverage, which averaged $2,117. Annual out-of-pocket maximums averaged $5,271. Many plans do not cover important benefits. Twelve percent of individually insured persons had no coverage for office visits and only 43% have maternity benefits in their basic coverage. With the advent of health exchanges and new market rules in 2014, covered benefits may become richer, cost sharing will decline, but premiums for the young will rise.

Effect of a puzzle on the process of students' learning about cardiac physiology.

Science.gov (United States)

Cardozo, Lais Tono; Miranda, Aline Soares; Moura, Maria José Costa Sampaio; Marcondes, Fernanda Klein

2016-09-01

The aim of the present study was to evaluate the effects of using a puzzle to learn about cardiac physiology. Students were divided into control and game groups. In class 1, the control group had a 2-h theoretical class about cardiac physiology, including a detailed description of the phases of the cardiac cycle, whereas the game group had a 50-min theoretical class without the description of the cardiac cycle. In class 2, the control group did an assessment exercise before an activity with the cardiac puzzle and the game group answered questions after the above-mentioned activity. While solving the puzzle, the students had to describe the cardiac cycle by relating the concepts of heart morphology and physiology. To evaluate short-term learning, the number of wrong answers and grades in the assessment exercise were compared between the control and game groups. To evaluate medium-term learning, we compared the grades obtained by students of the control and game groups in questions about cardiac physiology that formed part of the academic exam. In the assessment exercise, the game group presented a lower number of errors and higher score compared with the control group. In the academic exam, applied after both groups had used the puzzle, there was no difference in the scores obtained by the control and game groups in questions about cardiac physiology. These results showed a positive effect of the puzzle on students' learning about cardiac physiology compared with those not using the puzzle. Copyright © 2016 The American Physiological Society.

Modeling foreign exchange risk premium in Armenia

Czech Academy of Sciences Publication Activity Database

Poghosyan, T.; Kočenda, E.; Zemčík, Petr

2008-01-01

Roč. 44, č. 1 (2008), s. 41-61 ISSN 1540-496X R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : foreign exchange risk premium * Armenia * affine term structure models Subject RIV: AH - Economics Impact factor: 0.611, year: 2008

AN EMPIRICAL ANALYSIS OF VARIETY PRICE PREMIUM ...

African Journals Online (AJOL)

Location price difference was inversely related to distance from the central commodity market, and the seasonal price difference was attributed to storage technique. These show imperfect competitive market behaviour. Peu/drum with characteristics of brown colour, rough skin and large grain size had a price premium than ...

Determinants of Medicare plan choices: are beneficiaries more influenced by premiums or benefits?

Science.gov (United States)

Jacobs, Paul D; Buntin, Melinda B

2015-07-01

To evaluate the sensitivity of Medicare beneficiaries to premiums and benefits when selecting healthcare plans after the introduction of Part D. We matched respondents in the 2008 Medicare Current Beneficiary Survey to the Medicare Advantage (MA) plans available to them using the Bid Pricing Tool and previously unavailable data on beneficiaries' plan choices. We estimated a 2-stage nested logit model of Medicare plan choice decision making, including the decision to choose traditional fee-for-service (FFS) Medicare or an MA plan, and for those choosing MA, which specific plan they chose. Beneficiaries living in areas with higher average monthly rebates available from MA plans were more likely to choose MA rather than FFS. When choosing MA plans, beneficiaries are roughly 2 to 3 times more responsive to dollars spent to reduce cost sharing than reductions in their premium. We calculated an elasticity of plan choice with respect to the monthly MA premium of -0.20. Beneficiaries with lower incomes are more sensitive to plan premiums and cost sharing than higher-income beneficiaries. MA plans appear to have a limited incentive to aggressively price their products, and seem to compete primarily over reduced beneficiary cost sharing. Given the limitations of the current plan choice environment, policies designed to encourage the selection of lower-cost plans may require increasing premium differences between plans and providing the tools to enable beneficiaries to easily assess those differences.

Puzzle based teaching versus traditional instruction in electrocardiogram interpretation for medical students – a pilot study

Science.gov (United States)

Rubinstein, Jack; Dhoble, Abhijeet; Ferenchick, Gary

2009-01-01

Background Most medical professionals are expected to possess basic electrocardiogram (EKG) interpretation skills. But, published data suggests that residents' and physicians' EKG interpretation skills are suboptimal. Learning styles differ among medical students; individualization of teaching methods has been shown to be viable and may result in improved learning. Puzzles have been shown to facilitate learning in a relaxed environment. The objective of this study was to assess efficacy of teaching puzzle in EKG interpretation skills among medical students. Methods This is a reader blinded crossover trial. Third year medical students from College of Human Medicine, Michigan State University participated in this study. Two groups (n = 9) received two traditional EKG interpretation skills lectures followed by a standardized exam and two extra sessions with the teaching puzzle and a different exam. Two other groups (n = 6) received identical courses and exams with the puzzle session first followed by the traditional teaching. EKG interpretation scores on final test were used as main outcome measure. Results The average score after only traditional teaching was 4.07 ± 2.08 while after only the puzzle session was 4.04 ± 2.36 (p = 0.97). The average improvement after the traditional session was followed up with a puzzle session was 2.53 ± 1.94 while the average improvement after the puzzle session was followed with the traditional session was 2.08 ± 1.73 (p = 0.67). The final EKG exam score for this cohort (n = 15) was 84.1 compared to 86.6 (p = 0.22) for a comparable sample of medical students (n = 15) at a different campus. Conclusion Teaching EKG interpretation with puzzles is comparable to traditional teaching and may be particularly useful for certain subgroups of students. Puzzle session are more interactive and relaxing, and warrant further investigations on larger scale. PMID:19144134

Puzzle based teaching versus traditional instruction in electrocardiogram interpretation for medical students – a pilot study

Directory of Open Access Journals (Sweden)

Dhoble Abhijeet

2009-01-01

Full Text Available Abstract Background Most medical professionals are expected to possess basic electrocardiogram (EKG interpretation skills. But, published data suggests that residents' and physicians' EKG interpretation skills are suboptimal. Learning styles differ among medical students; individualization of teaching methods has been shown to be viable and may result in improved learning. Puzzles have been shown to facilitate learning in a relaxed environment. The objective of this study was to assess efficacy of teaching puzzle in EKG interpretation skills among medical students. Methods This is a reader blinded crossover trial. Third year medical students from College of Human Medicine, Michigan State University participated in this study. Two groups (n = 9 received two traditional EKG interpretation skills lectures followed by a standardized exam and two extra sessions with the teaching puzzle and a different exam. Two other groups (n = 6 received identical courses and exams with the puzzle session first followed by the traditional teaching. EKG interpretation scores on final test were used as main outcome measure. Results The average score after only traditional teaching was 4.07 ± 2.08 while after only the puzzle session was 4.04 ± 2.36 (p = 0.97. The average improvement after the traditional session was followed up with a puzzle session was 2.53 ± 1.94 while the average improvement after the puzzle session was followed with the traditional session was 2.08 ± 1.73 (p = 0.67. The final EKG exam score for this cohort (n = 15 was 84.1 compared to 86.6 (p = 0.22 for a comparable sample of medical students (n = 15 at a different campus. Conclusion Teaching EKG interpretation with puzzles is comparable to traditional teaching and may be particularly useful for certain subgroups of students. Puzzle session are more interactive and relaxing, and warrant further investigations on larger scale.

12 CFR 5.36 - Other equity investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Other equity investments. 5.36 Section 5.36... PROCEDURES FOR CORPORATE ACTIVITIES Expansion of Activities § 5.36 Other equity investments. (a) Authority... types of equity investments pursuant to 12 U.S.C. 24(Seventh) and other statutes. These investments are...

Effect of Frozen Storage Temperature on the Quality of Premium Ice Cream.

Science.gov (United States)

Park, Sung Hee; Jo, Yeon-Ji; Chun, Ji-Yeon; Hong, Geun-Pyo; Davaatseren, Munkhtugs; Choi, Mi-Jung

2015-01-01

The market sales of premium ice cream have paralleled the growth in consumer desire for rich flavor and taste. Storage temperature is a major consideration in preserving the quality attributes of premium ice cream products for both the manufacturer and retailers during prolonged storage. We investigated the effect of storage temperature (-18℃, -30℃, -50℃, and -70℃) and storage times, up to 52 wk, on the quality attributes of premium ice cream. Quality attributes tested included ice crystal size, air cell size, melting resistance, and color. Ice crystal size increased from 40.3 μm to 100.1 μm after 52 wk of storage at -18℃. When ice cream samples were stored at -50℃ or -70℃, ice crystal size slightly increased from 40.3 μm to 57-58 μm. Initial air cell size increased from 37.1 μm to 87.7 μm after storage at -18℃ for 52 wk. However, for storage temperatures of -50℃ and -70℃, air cell size increased only slightly from 37.1 μm to 46-47 μm. Low storage temperature (-50℃ and -70℃) resulted in better melt resistance and minimized color changes in comparison to high temperature storage (-18℃ and -30℃). In our study, quality changes in premium ice cream were gradually minimized according to decrease in storage temperature up to-50℃. No significant beneficial effect of -70℃ storage was found in quality attributes. In the scope of our experiment, we recommend a storage temperature of -50℃ to preserve the quality attributes of premium ice cream.

Solving jigsaw puzzles using image features

DEFF Research Database (Denmark)

Nielsen, Ture R.; Drewsen, Peter; Hansen, Klaus

2008-01-01

In this article, we describe a method for automatic solving of the jigsaw puzzle problem based on using image features instead of the shape of the pieces. The image features are used for obtaining an accurate measure for edge similarity to be used in a new edge matching algorithm. The algorithm i...

A generalization of the Pasadena puzzle

NARCIS (Netherlands)

Peterson, M.B.

2013-01-01

By generalizing the Pasadena puzzle introduced by Nover and Hájek (2004) we show that the sum total of value produced by an act can be made to converge to any real number by applying the Riemann rearrangement theorem, even if the scenario faced by the decision maker is non-probabilistic and fully

Improvement of Educational Equity & Teacher Training

Directory of Open Access Journals (Sweden)

María J. Rodríguez

2013-10-01

Full Text Available Educational improvement for equity and professional teacher development are crucial issues concerning the essential right all students have of a good education. Firstly the article proposes a contextual reflection on improvement, some considerations related to well known traditions in the field and particularly the social justice and its relationships and implication for educational politics, curriculum, teaching, teacher and community. Secondly, it claims for the coherence of teacher professional development to educational equity. Different analysis and proposals are outlined related to policies and tasks the public administration should undertake and some dimensions of teacher education are considered attending educational equity criteria. Professional learning communities are described and valued as a hypothetical framework in order to improve equity and teacher education relationships.

PuzzleArt Therapy: Connecting the Pieces in Search of Answers

Directory of Open Access Journals (Sweden)

Jennifer Fortuna

2016-10-01

Full Text Available Alli Berman, a New York based artist, provided the cover art for the Fall 2016 issue of The Open Journal of Occupational Therapy (OJOT. “Sunlight Underwater” is a 12 piece PuzzleArt painting made from acrylic on American maple that measures 22x30. The PuzzleArt concept began as a simple exercise that evolved into a therapeutic modality. When a sudden stroke impacted Berman’s well-being and quality of life, it was art that helped her to make connections during recovery.

Modelling home equity conversion loans with life insurance models

Directory of Open Access Journals (Sweden)

Baškot Bojan

2013-01-01

Full Text Available Home equity represents a reserve that can be used for providing additional money for its owners during their retirement. Life insurance models can be successfully applied to model home equity conversion loans. The home equity conversion loan is a financial product that provides a certain flexibility by using home equity as a resource for a quality life during retirement. Home equity conversion loans do not have a predetermined maturity date, as do conventional loans. But, like every loan, it must be repaid. One potential advantage of using a home equity conversion loan during tough financial times instead of some types of need-based assistance is that eligibility is straightforward. Home equity conversion loans can be useful tools in the process of pension system reform.

Free-style puzzle flap: the concept of recycling a perforator flap.

Science.gov (United States)

Feng, Kuan-Ming; Hsieh, Ching-Hua; Jeng, Seng-Feng

2013-02-01

Theoretically, a flap can be supplied by any perforator based on the angiosome theory. In this study, the technique of free-style perforator flap dissection was used to harvest a pedicled or free skin flap from a previous free flap for a second difficult reconstruction. The authors call this a free-style puzzle flap. For the past 3 years, the authors treated 13 patients in whom 12 pedicled free-style puzzle flaps were harvested from previous redundant free flaps and recycled to reconstruct soft-tissue defects at various anatomical locations. One free-style free puzzle flap was harvested from a previous anterolateral thigh flap for buccal cancer to reconstruct a foot defect. Total flap survival was attained in 12 of 13 flaps. One transferred flap failed completely. This patient had received postoperative radiotherapy after the initial cancer ablation and free anterolateral thigh flap reconstruction. Another free flap was used to close and reconstruct the wound. All the donor sites could be closed primarily. The free-style puzzle flap, harvested from a previous redundant free flap and used as a perforator flap to reconstruct a new defect, has proven to be versatile and reliable. When indicated, it is an alternative donor site for further reconstruction of soft-tissue defects.

Gender, Productivity, and the Marital Wage Premium

Science.gov (United States)

Lincoln, Anne E.

2008-01-01

Explanations for married men's wage premium often emphasize greater market productivity due to a gendered division of household labor, though this "specialization thesis" has been insufficiently interrogated. Using data from Wave 2 of the National Survey of Families and Households (N = 972), this paper examines the relationship between wages and…

Family caregivers of palliative cancer patients at home: the puzzle of pain management.

Science.gov (United States)

Mehta, Anita; Cohen, S Robin; Carnevale, Franco A; Ezer, Hélène; Ducharme, Francine

2010-01-01

The purpose of this grounded theory study was to understand the processes used by family caregivers to manage the pain of cancer patients at home. A total of 24 family caregivers participated. They were recruited using purposeful then theoretical sampling. The data sources were taped, transcribed (semi-structured) interviews and field notes. Data analysis was based on Strauss and Corbin's (1998) requirements for open, axial, and selective coding. The result was an explanatory model titled "the puzzle of pain management," which includes four main processes: "drawing on past experiences"; "strategizing a game plan"; "striving to respond to pain"; and "gauging the best fit," a decision-making process that joins the puzzle pieces. Understanding how family caregivers assemble their puzzle pieces can help health care professionals make decisions related to the care plans they create for pain control and help them to recognize the importance of providing information as part of resolving the puzzle of pain management.

The 20th anniversary of the three-nucleon analyzing power puzzle - a personal recollection

International Nuclear Information System (INIS)

Tornow, W. . Author

2008-01-01

The history of the three-nucleon analyzing power puzzle is described by an experimentalist who has been collaborating with few-body theoreticians in trying to unravel the physics of this long-standing phenomenon. Although surprising effects have been discovered along the way, the puzzle is still unexplained. Hopefully, some of the long-range three-nucleon force terms predicted by chiral effective field theory in N 3 LO will eventually solve the puzzle. Presented at the 20th Few-Body Conference, Pisa, Italy, 10-14 September 2007. (author)

Neutron star news and puzzles

International Nuclear Information System (INIS)

Prakash, Madappa

2014-01-01

Gerry Brown has had the most influence on my career in Physics, and my life after graduate studies. This article gives a brief account of some of the many ways in which Gerry shaped my research. Focus is placed on the significant strides on neutron star research made by the group at Stony Brook, which Gerry built from scratch. Selected puzzles about neutron stars that remain to be solved are noted

3D satellite puzzles for young and old kids

Science.gov (United States)

Biondi, Riccardo; Galoforo, Germana

2017-04-01

The Italian Space Agency (ASI) is active in outreach willing to increase the interest of young generations and general public toward the space activities. ASI proposes educational programmes for supporting and encouraging the development of European society based on knowledge, inspiring and motivating the young generations. One of the initiatives promoted by ASI on this regards is the 3D satellite puzzles. The idea was born in 2007 from the will to conceive an educational product for promoting and explaining to students the small all-Italian mission AGILE (Astrorivelatore Gamma ad Immagini ultra Leggero) thought as a tool for students aged 8-13. Working with this slot of students is very productive in terms of the imprints left on the kids, in fact it is useful to produce things they can use, touch and play with, with an active approach instead of a passive one. Therefore it was decided to produce something that kids could build and use at home with their parents or friends, or all together at school with teachers and mates. Other puzzles followed AGILE, one about the COSMO-SkyMED satellites about Earth Observation and also a broader one of the International Space Station. During these 10 years the puzzles were mostly used as outreach tools for school children, but they surprisingly received a great success also within older generations. So far the 3D puzzles have been printed in more than 10 thousand copies and distributed for free to students of hundreds of schools in Italy, and to the general public through science associations, planetaria and museums. Recently they have been used also during special events such as the international Geoscience Communication School (as best practice outreach tool), the EXPO 2015 and the European Researcheŕs Night at the Parlamentarium in Brussels 2016. While the students are building the puzzles, the tutor explains them the different components that they are assembling, what the importance of the satellite is and how it works

78 FR 59366 - Multifamily, Healthcare Facilities, and Hospital Mortgage Insurance Premiums for Fiscal Year (FY...

Science.gov (United States)

2013-09-26

... Facilities, and Hospital Mortgage Insurance Premiums for Fiscal Year (FY) 2014 AGENCY: Office of the... with HUD regulations, this Notice announces the mortgage insurance premiums (MIPs) for Federal Housing Administration (FHA) Multifamily, Healthcare Facilities, and Hospital mortgage insurance programs that have...

A Puzzle Guide to Gödel

Indian Academy of Sciences (India)

Home; Journals; Resonance – Journal of Science Education; Volume 6; Issue 7. Forever Undecided: A Puzzle Guide to Gödel. R Ramanujam. Book Review Volume 6 Issue 7 July 2001 pp 97-98. Fulltext. Click here to view fulltext PDF. Permanent link: https://www.ias.ac.in/article/fulltext/reso/006/07/0097-0098 ...

The Forward-Bias Puzzle: A Solution Based on Covered Interest Parity

OpenAIRE

Pippenger, John

2009-01-01

The forward-bias puzzle is probably the most important puzzle in international macroeconomics. After more than 20 years, there is no accepted solution. My solution is based on covered interest parity (CIP). CIP implies: (1) Forward rates are not rational expectations of future spot rates. Those expectations depend on future spot rates and interest rate differentials. (2) The forward bias is the result of a specification error, replacing future forward exchange rates with current forward ...

Global Equity Gauge Alliance: reflections on early experiences.

Science.gov (United States)

McCoy, David; Bambas, Lexi; Acurio, David; Baya, Banza; Bhuiya, Abbas; Chowdhury, A Mushtaque R; Grisurapong, Siriwan; Liu, Yuanli; Ngom, Pierre; Ngulube, Thabale J; Ntuli, Antoinette; Sanders, David; Vega, Jeanette; Shukla, Abhay; Braveman, Paula A

2003-09-01

The paper traces the evolution and working of the Global Equity Gauge Alliance (GEGA) and its efforts to promote health equity. GEGA places health equity squarely within a larger framework of social justice, linking findings on socioeconomic and health inequalities with differentials in power, wealth, and prestige in society. The Alliance's 11 country-level partners, called Equity Gauges, share a common action-based vision and framework called the Equity Gauge Strategy. An Equity Gauge seeks to reduce health inequities through three broad spheres of action, referred to as the 'pillars' of the Equity Gauge Strategy, which define a set of interconnected and overlapping actions. Measuring and tracking the inequalities and interpreting their ethical import are pursued through the Assessment and Monitoring pillar. This information provides an evidence base that can be used in strategic ways for influencing policy-makers through actions in the Advocacy pillar and for supporting grassroots groups and civil society through actions in the Community Empowerment pillar. The paper provides examples of strategies for promoting pro-equity policy and social change and reviews experiences and lessons, both in terms of technical success of interventions and in relation to the conceptual development and refinement of the Equity Gauge Strategy and overall direction of the Alliance. To become most effective in furthering health equity at both national and global levels, the Alliance must now reach out to and involve a wider range of organizations, groups, and actors at both national and international levels. Sustainability of this promising experiment depends, in part, on adequate resources but also on the ability to attract and develop talented leadership.

Customized Transportation, Equity Participation, and Cooperation Performance within Logistics Supply Chains

Directory of Open Access Journals (Sweden)

Xudong Lin

2015-01-01

Full Text Available Customized transportation has received growing concerns by researchers and practitioners in recent years. Despite the fact that one consignor often holds partial ownership of its carrier within a supply chain, the existing interpretations behind them remain relatively unexplored. Based on the game models, we find that a simple take-or-pay contract is not likely to solve the low-efficient customized production problem, and equity participation mechanism plus simple contract may improve the cooperation performance of customized transportation. In the case of the owner-managed carrier, only when purchasing at par can it be ensured to obtain the socially optimal customization investment, but when purchasing at premium or discount, the optimal partial ownership selected by consignor cannot motivate the carrier to make the most efficient customization investment. With the optimal solutions, we also provide a theoretic foundation for calculating the optimal partial ownership and for interpreting why the interfirm share-holding ratios of the member-firms within the familial-type logistic supply chains are much larger than the ratios within the public-type logistic supply chains. Finally, our results show that the familial-type logistic supply chains may choose more efficient customized production level than public-type logistic supply chains.

An evolutionary explanation of the value premium puzzle

OpenAIRE

Hens, Thorsten; Lensberg, Terje; Schenk-Hoppé, Klaus Reiner; Wöhrmann, Peter

2011-01-01

As early as 1934 Graham and Dodd conjectured that excess returns from value investment originate from a tendency of stock prices to converge towards a fundamental value. This paper confirms their insights within the evolutionary finance model of Evstigneev et al. (Econ Theory 27:449–468, (Evstigneev et al. 2006)). Our empirical results show the predictive power of the evolutionary benchmark valuation for the relative market capitalization and its dynamics in the sample of firms listed in the ...

The Meissner effect puzzle and the quantum force in superconductor

International Nuclear Information System (INIS)

Nikulov, A.V.

2012-01-01

The puzzle of the acceleration of the mobile charge carriers and the ions in the superconductor in direction opposite to the electromagnetic force revealed formerly in the Meissner effect is considered in the case of the transition of a narrow ring from normal to superconducting state. It is elucidated that the azimuthal quantum force was deduced eleven years ago from the experimental evidence of this acceleration but it cannot solve this puzzle. This quantum force explains other paradoxical phenomena connected with reiterated switching of the ring between normal and superconducting states.

La valutazione degli investimenti finanziati tramite equity crowdfunding

OpenAIRE

Zanetti, Laura

2015-01-01

Evoluzione e dimensione del crowdfunding, La valutazione e strutturazione dell’investimento tramite equity crowdfunding, Valutazioni implicite nelle raccolte fondi in equity crowdfunding, Peculiarità specifiche dell’equity crowdfunding, Un confronto con la bolla valutativa delle aziende internet degli anni 2000

Isotope puzzle in sputtering

International Nuclear Information System (INIS)

Zheng Liping

1998-01-01

Mechanisms affecting multicomponent material sputtering are complex. Isotope sputtering is the simplest in the multicomponent materials sputtering. Although only mass effect plays a dominant role in the isotope sputtering, there is still an isotope puzzle in sputtering by ion bombardment. The major arguments are as follows: (1) At the zero fluence, is the isotope enrichment ejection-angle-independent or ejection-angle-dependent? (2) Is the isotope angular effect the primary or the secondary sputter effect? (3) How to understand the action of momentum asymmetry in collision cascade on the isotope sputtering?

Value Premium and Country Risk as Dimensions to Estimate Conditional Returns: a Study of the Brazilian Market

Directory of Open Access Journals (Sweden)

Lilian de Castro Medeiros

2015-01-01

Full Text Available Asset pricing is a widely explored theme in the financial literature. Nevertheless, the phenomenon of value premium is still controversial, since although easily detected in developed and emerging markets, little is know about the economic forces that explain its existence. In this context, this article examines value premium in the Brazilian market and investigates the influence of the country risk variable as an additional risk factor for estimating conditional returns in this market not captured by value premium. For that, we employ a five-factor model, formulated by adding the country risk factor to the model of Carhart (1997. We apply the statistical procedure adopted by Fama & French (1993 to the period between 1994 and 2012, with data on nonfinancial companies listed on the BM&FBovespa. The results confirm the existence of value premium in the Brazilian market, and country risk and value premium together are significant factors to explain conditional returns.

Supersymmetry, the flavour puzzle and rare B decays

Energy Technology Data Exchange (ETDEWEB)

Straub, David Michael

2010-07-14

The gauge hierarchy problem and the flavour puzzle belong to the most pressing open questions in the Standard Model of particle physics. Supersymmetry is arguably the most popular framework of physics beyond the Standard Model and provides an elegant solution to the gauge hierarchy problem; however, it aggravates the flavour puzzle. In the first part of this thesis, I discuss several approaches to address the flavour puzzle in the minimal supersymmetric extension of the Standard Model and experimental tests thereof: supersymmetric grand unified theories with a unification of Yukawa couplings at high energies, theories with minimal flavour violation and additional sources of CP violation and theories with gauge mediation of supersymmetry breaking and a large ratio of Higgs vacuum expectation values. In the second part of the thesis, I discuss the phenomenology of two rare B meson decay modes which are promising probes of physics beyond the Standard Model: The exclusive B {yields} K{sup *}l{sup +}l{sup -} decay, whose angular decay distribution will be studied at LHC and gives access to a large number of observables and the b{yields}s{nu}anti {nu} decays, which are in the focus of planned high-luminosity Super B factories. I discuss the predictions for these observables in the Standard Model and their sensitivity to New Physics. (orig.)

24 CFR 257.203 - Calculation of up-front and annual mortgage insurance premiums for H4H program mortgages.

Science.gov (United States)

2010-04-01

... mortgage insurance premiums for H4H program mortgages. 257.203 Section 257.203 Housing and Urban... mortgage insurance premiums for H4H program mortgages. (a) Applicable premiums. Any mortgage presented for... LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES HOPE FOR HOMEOWNERS PROGRAM...

KEEFEKTIFAN MODEL PEMBELAJARAN WORD SQUARE BERBANTU MEDIA PUZZLE PADA MATA PELAJARAN IPS SD

Directory of Open Access Journals (Sweden)

IBNATUL IZZATI

2018-01-01

Full Text Available Abstract                The problems of this research was: how the effectiveness of Word Square learning model supported by Puzzle media to improve learning outcome of Social subject of third grade at Public Elementary School of Wonopringgo 01 (SDN 01 Wonopringgo? The type of this research was True Experiment Design with type of pretest-posttest control group design one kind of treatment. The samples were taken from students of the third grade of A SDN 01 Wonopringgo in the academic year 2016/2017. The data in this study was obtained through tests and documentation. Experimental research on the third grade of A which was given Word Square learning model supported by Puzzle media and the third grade of B was not given Word Square learning model supported by Puzzle media. Posttest results showed that the percentage of posttest grade of the experimental class was 95% of students expressed thoroughly, while the control class is 70%, and based on t test one-party analysis obtained ttest > ttable = 3,100816112> 1.72. Thus, it could be concluded that the learning with Word Square model supported by Puzzle media was effective against student learning outcomes in Social subjects (IPS the third grade at SDN 01 Wonopringgo Pekalongan. Keywords : effectiveness, word square, puzzle

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

2018-01-01

Equity options display a strong factor structure. The first principal components of the equity volatility levels, skews, and term structures explain a substantial fraction of the crosssectional variation. Furthermore, these principal components are highly correlated with the S&P 500 index option...... volatility, skew, and term structure, respectively. We develop an equity option valuation model that captures this factor structure. The model predicts that firms with higher market betas have higher implied volatilities, steeper moneyness slopes, and a term structure that covaries more with the market...

Do Firms Replenish Executives’ Incentives After Equity Sales?

NARCIS (Netherlands)

Ladika, T.

2013-01-01

After selling firm equity, executives' incentives to maximize shareholder value may decrease. How do boards respond? Theory shows boards can restore executives' incentives by shifting subsequent pay from cash toward equity. Unobservable firm-level changes that cause executives to sell equity and

A Hierarchical Interface Design of a Puzzle Game for Elementary Education

OpenAIRE

Eun-Young Park; Young-Ho Park

2010-01-01

A basic instinct of humans for perfect completion usually drives us happy. Basically, humans purchase a certain complete match for scattered facts. The satisfaction of completing the scattered pieces gives us great pleasure. Thus many people put in their time and effort in the puzzle, and they gain strong satisfaction. The paper solves the importance of the general effects of a puzzle in building the edu-game design. Legacy online education has following problems. First, educational effects b...

24 CFR 4001.203 - Calculation of upfront and annual mortgage insurance premiums for Program mortgages.

Science.gov (United States)

2010-04-01

... mortgage insurance premiums for Program mortgages. 4001.203 Section 4001.203 Housing and Urban Development... HOMEOWNERS PROGRAM HOPE FOR HOMEOWNERS PROGRAM Rights and Obligations Under the Contract of Insurance § 4001.203 Calculation of upfront and annual mortgage insurance premiums for Program mortgages. (a...

On the evolutionary origins of equity.

Directory of Open Access Journals (Sweden)

Stéphane Debove

Full Text Available Equity, defined as reward according to contribution, is considered a central aspect of human fairness in both philosophical debates and scientific research. Despite large amounts of research on the evolutionary origins of fairness, the evolutionary rationale behind equity is still unknown. Here, we investigate how equity can be understood in the context of the cooperative environment in which humans evolved. We model a population of individuals who cooperate to produce and divide a resource, and choose their cooperative partners based on how they are willing to divide the resource. Agent-based simulations, an analytical model, and extended simulations using neural networks provide converging evidence that equity is the best evolutionary strategy in such an environment: individuals maximize their fitness by dividing benefits in proportion to their own and their partners' relative contribution. The need to be chosen as a cooperative partner thus creates a selection pressure strong enough to explain the evolution of preferences for equity. We discuss the limitations of our model, the discrepancies between its predictions and empirical data, and how interindividual and intercultural variability fit within this framework.

Performance Evaluation of Equity Mutual Funds in Indonesia

Directory of Open Access Journals (Sweden)

Irene Rini Demi Pangestuti

2017-11-01

Full Text Available Mutual funds considered as an investment alternative for investors. One type of mutual fund that attracts many investors was the equity mutual funds. Equity mutual fund is a type of mutual funds that most part of the investment consists of stocks in the capital market so the risk rate was higher than the other types of mutual funds. For its different characteristic, the measurement for equity funds performance did not be same with other types of mutual funds. As a stock portfolio, equity mutual funds can be measured by portfolio measurement methods such as Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index, Adjusted Jensen Index, and Sortino Ratio. This study was conducted by using all of those performance measurements as most research in Indonesia was conducted by using limited performance measurements (focusing on Sharpe Index, Treynor Ratio, and Jensen Index. This study aims to evaluated the performance of 42 equity mutual funds available in Indonesia by employing Sharpe Index, Treynor Ratio, Jensen Index, Adjusted Sharpe Index (ASI, Adjusted Jensen Index (AJI, and Sortino Ratio because most previous researches in Indonesian setting disregards ASI and AJI. In general, it was concluded that the SAM Indonesian Equity was the best performing equity fund during the study period. It was further found that most equity mutual fund studied have been well diversified.

A solution to B→ππ puzzle and B→KK

International Nuclear Information System (INIS)

Baek, Seungwon

2008-01-01

The large ratio of color-suppressed tree amplitude to color-allowed one in B→ππ decays is difficult to understand within the Standard Model, which is known as the 'B→ππ puzzle'. The two tree diagrams contain the up- and charm-quark component of penguin amplitude, P uc , which cannot be separated by measuring B→ππ decays alone. We show that the measurements of the branching ratio and direct CP asymmetry of B + →K + K 0 -bar decay enable one to disentangle the P uc with two-fold ambiguity. One of the two degenerate solutions of the P uc can solve the B→ππ puzzle by giving |C/T|∼0.3 which is consistent with the expectation in the Standard Model. We also show that the two solutions can be discriminated by the measurement of the indirect CP asymmetry of B 0 →K 0 K 0 -bar. We point out that the corresponding puzzle in B→πK decays is not solved in this way

The Impact of the Term Auction Facility on the Liquidity Risk Premium and Unsecured Interbank Spreads

OpenAIRE

Syrstad, Olav

2014-01-01

This paper investigates the effectiveness of the Federal Reserve's Term Auction Facility (TAF) in alleviating the liquidity shortage in USD and reducing the spread between the 3-month Libor rate and the expected policy rate. I construct a proxy for the 3-month liquidity risk premium based on data from the FX forward market which enables me to (i) decompose the Libor spread into a liquidity premium and a credit premium, and (ii) test the effectiveness of the TAF in reducing the liquidity premi...

Equity and Value in 'Precision Medicine'.

Science.gov (United States)

Gray, Muir; Lagerberg, Tyra; Dombrádi, Viktor

2017-04-01

Precision medicine carries huge potential in the treatment of many diseases, particularly those with high-penetrance monogenic underpinnings. However, precision medicine through genomic technologies also has ethical implications. We will define allocative, personal, and technical value ('triple value') in healthcare and how this relates to equity. Equity is here taken to be implicit in the concept of triple value in countries that have publicly funded healthcare systems. It will be argued that precision medicine risks concentrating resources to those that already experience greater access to healthcare and power in society, nationally as well as globally. Healthcare payers, clinicians, and patients must all be involved in optimising the potential of precision medicine, without reducing equity. Throughout, the discussion will refer to the NHS RightCare Programme, which is a national initiative aiming to improve value and equity in the context of NHS England.

Corporate Governance and Equity Returns

OpenAIRE

Uchida, Shigeru

2012-01-01

This paper analyses the relationship between corporate governance and equity returns from the small investors view point. A primary survey has been conducted to gather the data required to examine the link. Preliminary result of the study shows that the four elements of governance: board structure, transparency, fairness and responsibility are positively related with equity returns.

Brand Equity – Measuring Corporate Brand Strength in the Swedish Smartphone Market; Dimensions of Corporate Brand Equity from a Consumer Perspective

OpenAIRE

Lökken, Andreas; Nayar, Malini; Runering, Maria

2012-01-01

This study deals with the concept of brand equity composition in the Swedish smartphone market. The three dimensions used to describe brand equity are based on Aaker’s definition of consumer based brand equity namely; brand awareness, brand loyalty and perceived quality. The corporate brands represented on the market are analyzed with regards to consumer rating and brand equity composition using a proven theoretical model and a standardized questionnaire. The findings in this study indicate t...

Precedents, Patterns and Puzzles: Feminist Reflections on the First Women Lawyers

Directory of Open Access Journals (Sweden)

Mary Jane Mossman

2016-10-01

Full Text Available This paper initially examines the historical precedents established by some of the first women who entered the “gentleman’s profession” of law in different jurisdictions, as well as the biographical patterns that shaped some women’s ambitions to enter the legal professions. The paper then uses feminist methods and theories to interpret “puzzles that remain unsolved” about early women lawyers, focusing especially on two issues. One puzzle is the repeated claims on the part of many of these early women lawyers that they were “lawyers”, and not “women lawyers”, even as they experienced exclusionary practices and discrimination on the part of male lawyers and judges—a puzzle that suggests how professional culture required women lawyers to conform to existing patterns in order to succeed. A second puzzle relates to the public voices of early women lawyers, which tended to suppress disappointments, difficulties and discriminatory practices. In this context, feminist theories suggest a need to be attentive to the “silences” in women’s stories, including the stories of the lives of early women lawyers. Moreover, these insights may have continuing relevance for contemporary women lawyers because it is at least arguable that, while there have been changes in women’s experiences, there has been very little transformation in their work status in relation to men.

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

Equity options display a strong factor structure. The first principal components of the equity volatility levels, skews, and term structures explain a substantial fraction of the cross-sectional variation. Furthermore, these principal components are highly correlated with the S&P500 index option...... volatility, skew, and term structure respectively. We develop an equity option valuation model that captures this factor structure. The model predicts that firms with higher market betas have higher implied volatilities, steeper moneyness slopes, and a term structure that co-varies more with the market...

38 CFR 8.5 - Authorization for deduction of premiums from compensation, retirement pay, or pension.

Science.gov (United States)

2010-07-01

... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Authorization for deduction of premiums from compensation, retirement pay, or pension. 8.5 Section 8.5 Pensions, Bonuses, and... Authorization for deduction of premiums from compensation, retirement pay, or pension. Deductions from benefits...

Formative Assessment Probes: Mountaintop Fossil: A Puzzling Phenomenon

Science.gov (United States)

Keeley, Page

2015-01-01

This column focuses on promoting learning through assessment. This month's issue describes using formative assessment probes to uncover several ways of thinking about the puzzling discovery of a marine fossil on top of a mountain.

The DS86 neutron dosimetry enigma: Some missing pieces to the puzzle

International Nuclear Information System (INIS)

Gold, R.

1994-01-01

International programs have been conducted over the last four decades to quantify the exposure of atom bomb survivors from Hiroshima and Nagasaki. Unfortunately, the quest for accurate gamma-ray and neutron exposure doses of atom bomb survivors has proven illusive. Efforts in the most recent of these programs, designated as Dosimetry System 1986 (DS86), have revealed a serious and persistent discrepancy between neutron transport calculations and thermal neutron activation measurements at the Hiroshima site, which will be called the DS86 neutron dosimetry enigma. It is established that this enigma is a complex puzzle that precludes simple solutions. This conclusion is deduced through the identification of a number of missing pieces to the puzzle. Implications and conclusions that can be inferred from these missing puzzle pieces are advanced

Equity Gauge Zambia : Enhancing Governance, Equity and Health ...

International Development Research Centre (IDRC) Digital Library (Canada)

... identifying strategies for and indicators of equitable community participation; refining a ... Human resources for health in Zambia : equity and health system strengthening; some local perspectives (IDRC lunch hour discussion, Ottawa, 22 Mar. ... and adaptive water management: Innovative solutions from the Global South”.

Trends in the use and advertising of discount versus premium snuff.

Science.gov (United States)

Timberlake, David S; Pechmann, Cornelia

2013-02-01

The Conwood Company, a major producer of discount moist snuff, was awarded a $1 billion antitrust settlement in the year 2000 against its leading competitor, the U.S. Smokeless Tobacco Company. The objective of this study was to examine the trends in use and advertising of discount versus premium snuff since the Conwood settlement, a topic seldom addressed in the tobacco control literature. 2 sources of data were analyzed in 2011: (a) male snuff users from the 2002-2009 National Surveys on Drug Use and Health (N = 13,172) and (b) total advertisements of moist snuff identified from over 350 consumer magazines dated 2005-2009 (N = 861). For the survey data, demographic and tobacco-related measures were assessed as predictors of use of discount versus premium snuff in logistic regression models. For the advertising data, associations were examined between the snuff category and nicotine content, magazine youth readership, and year of magazine publication. The prevalence of discount and premium snuff use among males increased and decreased, respectively, from 2002 to 2009. Significant predictors of using discount versus premium snuff were being an adolescent, being an African-American, being a current or former smoker, living in a less populated region of the country, and using snuff frequently. Discount snuff advertising was associated with publication in magazines with a high youth readership. Discount snuff has grown in popularity among male adolescents who have been a target of advertising. The tobacco's cheap price and high nicotine content pose a public health problem because of the potential for long-term tobacco use and dependence.

Investing in systematic factor premiums

NARCIS (Netherlands)

Koedijk, Kees G.; Slager, Alfred M. H.; Stork, P.A.

In this paper we investigate and evaluate factor investing in the US and Europe for equities and bonds. We show that factor-based portfolios generally produce comparable or better portfolios than market indices. We expand the analysis to other asset classes and factors, work with other optimisation

Risk premium in the UK natural gas forward market

International Nuclear Information System (INIS)

Hobaek Haff, Ingrid; Lindqvist, Ola; Loeland, Anders

2008-01-01

This report investigates the UK natural gas market, and tests whether it is a fair-game efficient forward market, using forward contracts ranging from one to five months time to delivery. The forward and spot price series are separately non-stationary, but cointegrated. Furthermore, the forward prices are biased predictors of both the future spot and the 1-month-ahead forward price. The risk premium on the forward prices is positive, as opposed to the US gas market, where the risk premium was found to be negative in similar work. Moreover, the analysis reveals that the storage model is an incomplete model for the relationship between the spot and forward prices. However, storage has a clear effect on this relationship, an effect that appears to be non-linear. (author)

What should be the basis for compulsory and optional health insurance premiums? Opinions of Swiss doctors.

Science.gov (United States)

Jannot, Anne-Sophie; Perneger, Thomas V

2014-02-04

Little is known about doctors' opinions on how to finance health services. In Switzerland, mandatory basic health insurance currently uses regional flat fees that are unrelated to health and ability to pay, and optional complementary insurance uses risk-based premiums. Our objective was to assess Swiss physicians' opinions on what should determine health insurance premiums. We surveyed doctors in the canton of Geneva, Switzerland, about the desirable funding mechanism for mandatory health insurance and complementary health insurance. The proposed determinants of insurance premiums were current health and past medical history, lifestyle, healthcare costs in the previous year, genetic susceptibility to disease, regional average healthcare costs, household income, and wealth and demographic characteristics. Among the 1,516 respondents, only a few (insurance premium should depend on health risk (health status, previous costs, genetics, and age and sex). More than 30% of respondents supported premiums based on lifestyle (34.6%), regional average health expenditures (31.2%), and household income and wealth (39.6%). For complementary health insurance, most respondents supported premiums based on lifestyle (74.6%) and on health risk (46.4%), but surprisingly also on household income and wealth (44.9%) and regional average health expenditures (39.4%). The characteristic most influencing the answers was the medical specialty. Doctors' opinions about healthcare financing mechanisms varied considerably, for both mandatory and complementary health insurance. Lifestyle was a surprisingly frequent choice, even though this criterion is not currently used in Switzerland. Ability to pay was not supported by the majority.

Estimando o Prêmio de Mercado Brasileiro

Directory of Open Access Journals (Sweden)

Luciana Ribeiro Chalela

2011-09-01

Full Text Available Risky investments assume that profits are on average higher than those obtained from risk-free assets; this difference is traditionally called an equity risk premium. Its importance is unequivocal: for investors, when deciding on being exposed to the stock market’s risks; for corporation managers, in project selection and even for government agencies when regulating utility company returns and supervising pension funds. However, this applicability requires trustworthy values to be used in the models. This paper analyses estimates obtained by three different approaches covering the period of January of 1996 to December of 2008. In the historical approach, the results vary from 5% to 7% for the IBrX and FGV-100 indexes; in the prospective approach (which reflects the expected premium the result was 3.35%; finally, in the indirect approach (by market models, negative equity premiums were found, an unexpected but significant result.

CUSTOMER EQUITY:MAKING MARKETING STRATEGY FINANCIALLY ACCOUNTABLE

Institute of Scientific and Technical Information of China (English)

Ashwin ARAVINDAKSHAN; Roland T. RUST; Katherine N. LEMON; Valerie A. ZEITHAML

2004-01-01

The article presents an overview of the literature on customer equity and how customer equity provides an opportunity for marketers to make marketing strategy financially accountable.Traditionally, Return on Investment (ROI) models have been used to evaluate the financial expenditures required by the strategies as well as the financial returns gained by them. However in addition to requiring lengthy longitudinal data, these models also have the disadvantage of not evaluating the effect of the strategies on a firm's customer equity. The dominance of customer-centered thinking over product-centered thinking calls for a shift from product-based strategies to customer-based strategies. Hence, it is important to evaluate a firm's marketing strategies in terms of the drivers of its customer equity. The article summarizes a unified strategic framework that enables competing marketing strategy options to be traded off on the basis of projected financial return, which is operationalized as the change in a firm's customer equity relative to the incremental expenditure necessary to produce the change.

Investigating different factors influencing on brand equity

Directory of Open Access Journals (Sweden)

Afsane Zamanimoghadam

2014-07-01

Full Text Available The purpose of this paper is to determine and prioritize factors influencing on brand equity in consumer’s point of view for a case study of Samsung appliance consumers in city of Tehran, Iran. The study investigates the effects of four factors in terms of the customer's perspective, price, advertisement, family and brand image, by dimensions of brand equity, perceived quality, brand awareness, brand association, brand loyalty, on brand equity. The research method is based on a descriptive-survey research. The questionnaire includes Samsung consumers in city of Tehran, Iran. To test the hypotheses, SPSS and LISREL software packages are used. For data analysis, descriptive statistics and inferential statistical tests including structural equation modeling and path analysis are used. The results of the survey have indicated that family and brand image influence positively on brand equity but the effects of advertisement and price on brand equity were not confirmed.

What does equity in health mean?

Science.gov (United States)

Mooney, G

1987-01-01

The author posits some ethical concerns and theories of distribution in order to gain some insight into the meaning of equity in health, as referred to in WHO documents. It is pointed out that the lack of clarity in the WHO positions is evidenced by examining 1) the European strategy document, which focuses on giving equal health to all and equity access to health care, and 2) the Global Strategy for Health, which talks about reducing inequality and health as a human right. The question raised in document 1 is whether more equal sharing of health might mean less health for the available quantity of resources. The question raised in document 2 is whether there is a right to health per se. The question is how does one measure health policy effects. Health effects are different for an 8-year-old girl and an octogenarian. How does one measure the fairness of access to health care in remote mountain villages versus an urban area? Is equal utilization which is more easily measured comparable to equal need as a measure? How does one distribute doctors equitably? The author espouses the determinant of health as Aday's illness and health promotion, which is not biased by class and controversy. The Aday definition embraces both demand and need, although his definition is still open to question. Concepts of health with distinction between need and demand are made. Theories of Veatch which relate to distributive justice and equity in health care are provided as entitlement theory (market forces determine allocation of resources), utilitarianism (greatest good for the greatest number regardless of redistribution issues), maximum theory (maximize the minimum position or giver priority to the least well off), and equality (fairness in distribution). Different organizational and financing structures will influence the approach to equity. The conclusion is that equity is a value laden concept which has no uniquely correct definition. 5 theories of equity in distribution of health

Equity Portfolio Management Using Option Price Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by using...... stocks' exposure to crude oil option information. Option-implied information can also help construct better mean-variance portfolios and better estimates of market beta....

Determinants of premiums in aerospace mergers and acquisitions: A preliminary analysis

Science.gov (United States)

Bryant, John K.

There is a large body of literature on different aspects of premiums as they relate to mergers and acquisitions. However, there is very little literature that specifically discusses the determinants of premiums in aerospace. Few industries have experienced the prolonged consolidation that the aerospace industry has seen. Today, the industry is dominated by a few large firms, but there is still merger activity continuing especially with second-tier firms attempting to secure their future through growth. This paper examines several determinants as applied to 18 aerospace mergers of publicly held companies and divisions from 1991 through April of 2002.

Brands and Brand Equity

OpenAIRE

Brunello Adrian

2011-01-01

Nowadays brands have become significant drivers for product purchasing and usage decisions. Thus, they constitute a substantial intangible asset for most companies. In order to gain customers and make them become loyal, firms have to establish the equity of the brand and present it in a clear and visible way to their target market. Therefore the topic of brand equity plays a major role in the creation and development of product and company brand strategy. The paper focuses on some general inf...

Model estimation of claim risk and premium for motor vehicle insurance by using Bayesian method

Science.gov (United States)

Sukono; Riaman; Lesmana, E.; Wulandari, R.; Napitupulu, H.; Supian, S.

2018-01-01

Risk models need to be estimated by the insurance company in order to predict the magnitude of the claim and determine the premiums charged to the insured. This is intended to prevent losses in the future. In this paper, we discuss the estimation of risk model claims and motor vehicle insurance premiums using Bayesian methods approach. It is assumed that the frequency of claims follow a Poisson distribution, while a number of claims assumed to follow a Gamma distribution. The estimation of parameters of the distribution of the frequency and amount of claims are made by using Bayesian methods. Furthermore, the estimator distribution of frequency and amount of claims are used to estimate the aggregate risk models as well as the value of the mean and variance. The mean and variance estimator that aggregate risk, was used to predict the premium eligible to be charged to the insured. Based on the analysis results, it is shown that the frequency of claims follow a Poisson distribution with parameter values λ is 5.827. While a number of claims follow the Gamma distribution with parameter values p is 7.922 and θ is 1.414. Therefore, the obtained values of the mean and variance of the aggregate claims respectively are IDR 32,667,489.88 and IDR 38,453,900,000,000.00. In this paper the prediction of the pure premium eligible charged to the insured is obtained, which amounting to IDR 2,722,290.82. The prediction of the claims and premiums aggregate can be used as a reference for the insurance company’s decision-making in management of reserves and premiums of motor vehicle insurance.

Patient-centered and visual quality outcomes of premium cataract surgery: a systematic review.

Science.gov (United States)

Wang, Sophia Y; Stem, Maxwell S; Oren, Gale; Shtein, Roni; Lichter, Paul R

2017-06-26

Over 8 million cataract surgeries are performed in the United States and the European Union annually, with many patients choosing to pay out of pocket for premium options including premium intraocular lens implants (IOLs) or laser-assisted cataract surgery (LACS). This report provides a systematic review evaluating patient-centered and visual quality outcomes comparing standard monofocal IOLs to premium cataract surgery options. PubMed and EMBASE were searched for publications published between January 1, 1980, and September 18, 2016, on multifocal, accommodative, and toric IOLs, monovision, and LACS, which reported on 1) dysphotopsias, 2) contrast sensitivity, 3) spectacle independence, 4) vision-related quality of life or patient satisfaction, and 5) IOL exchange. Multifocal lenses achieved higher rates of spectacle independence compared to monofocal lenses but also had higher reported frequency of dysphotopsia and worse contrast sensitivity, especially with low light or glare. Accommodative lenses were not associated with reduced contrast sensitivity or more dysphotopsia but had only modest improvements in spectacle independence compared to monofocal lenses. Studies of monovision did not target a sufficiently myopic outcome in the near-vision eye to achieve the full potential for spectacle independence. Patients reported high levels of overall satisfaction regardless of implanted IOL. No studies correlated patient-reported outcomes with patient expectations. Studies are needed to thoroughly compare patient-reported outcomes with concomitant patient expectations. In light of the substantial patient costs for premium options, patients and their surgeons will benefit from a better understanding of which surgical options best meet patients' expectations and how those expectations can be impacted by premium versus monofocal-including monovision-options.

Children's health insurance program premiums adversely affect enrollment, especially among lower-income children.

Science.gov (United States)

Abdus, Salam; Hudson, Julie; Hill, Steven C; Selden, Thomas M

2014-08-01

Both Medicaid and the Children's Health Insurance Program (CHIP), which are run by the states and funded by federal and state dollars, offer health insurance coverage for low-income children. Thirty-three states charged premiums for children at some income ranges in CHIP or Medicaid in 2013. Using data from the 1999-2010 Medical Expenditure Panel Surveys, we show that the relationship between premiums and coverage varies considerably by income level and by parental access to employer-sponsored insurance. Among children with family incomes above 150 percent of the federal poverty level, a $10 increase in monthly premiums is associated with a 1.6-percentage-point reduction in Medicaid or CHIP coverage. In this income range, the increase in uninsurance may be higher among those children whose parents lack an offer of employer-sponsored insurance than among those whose parents have such an offer. Among children with family incomes of 101-150 percent of poverty, a $10 increase in monthly premiums is associated with a 6.7-percentage-point reduction in Medicaid or CHIP coverage and a 3.3-percentage-point increase in uninsurance. In this income range, the increase in uninsurance is even larger among children whose parents lack offers of employer coverage. Project HOPE—The People-to-People Health Foundation, Inc.

Product Placement and Brand Equity

OpenAIRE

Corniani, Margherita

2003-01-01

Product placement is the planned insertion of a brand within a movie, a fiction, etc. It can be used with other communication tools (i.e. advertising, sales promotions, etc.) in order to disseminate brand awareness and characterize brand image, developing brand equity. In global markets, product placement is particularly useful for improving brand equity of brands with a well established brand awareness.

Gender Equity and Mass Communication's Female Student Majority.

Science.gov (United States)

Golombisky, Kim

2002-01-01

Provides an overview of the history and politics of gender equity to make problematic the phrase "gender equity," to introduce the gender equity in education literature, and to outline some issues relevant to mass communication. Suggests that equal access represents a sex-blind approach dependent on a male standard. (SG)

Equity Valuation

DEFF Research Database (Denmark)

Christensen, Peter Ove; Feltham, Gerald A.

, interest rates, expected equity returns, and inflation rates are all stochastic. We explicitly characterize the risk-adjustments to the fundamentals in an equilibrium setting. We show how the term structure of risk-adjustments depends on both the time-series properties of the free cash flows......-coupon interest rates. We show that standard estimates of the cost of capital, based on historical stock returns, are likely to be a significantly biased measure of the firm’s cost of capital, but also that the bias is almost impossible to quantify empirically. The new approach recognizes that, in practice......We review and critically examine the standard approach to equity valuation using a constant risk-adjusted cost of capital, and we develop a new valuation approach discounting risk-adjusted fundamentals, such as expected free cash flows and residual operating income, using nominal zero...

Corporate Negative Equity: The Evidence from the European Union

Directory of Open Access Journals (Sweden)

Natalia Mokhova

2016-01-01

Full Text Available After the Global Financial Crisis the frequency of reported losses of companies has increased significantly in countries of the European Union. Moreover, the financial leverage of companies have increased and even exceeded 100% in several countries. The reason of this development is negative equity that companies find themselves to report. At first sight negative equities are caused by accumulated losses from prior periods. However, there are some other reasons that can result in increasing negative equities in companies. They remain adequate as long as a company is able to pay its bills. Nevertheless, a company with negative equity is exposed to risks. This paper investigates whether the corporate negative equity is a sign of the future failure of a company. We examine non-financial manufactured companies from selected countries of the European Union within the period 2005–2012 from database Amadeus (Czech Republic, Slovakia, Hungary, Poland and Germany. By the means of comparison between negative and positive equities we applied descriptive statistics and Pearson correlation analysis. We find that in all surveyed countries the size positively influences the equity of companies. Other factors as profitability and growth opportunities do not influence the corporate equity. In addition the binary logistic regression analysis has been conducted based on the evidence from Czech companies. Our results indicate that negative equities are not a sign of bankruptcy or insolvency of a company. But the low profitability or low business activities (that are predictors of bankruptcy might lead to negative equities in the balance sheet.

75 FR 68798 - Medicare Program; Part A Premiums for CY 2011 for the Uninsured Aged and for Certain Disabled...

Science.gov (United States)

2010-11-09

... Retirement Act and certain others do not have to pay premiums for Medicare Part A.) Section 1818A of the Act... specifies that the premium that these individuals will pay for CY 2011 will be equal to the premium for... consequential effect on State, local, or tribal governments or on the private sector. However, States are...

Societal foundations for explaining fertility: Gender equity

Directory of Open Access Journals (Sweden)

Peter McDonald

2013-05-01

Full Text Available BACKGROUND Gender equity theory in relation to fertility argues that very low fertility is the result of incoherence in the levels of gender equity in individually-oriented social institutions and family-oriented social institutions. The salience of gender to the fertility transition is strong in theory but not as strong in specification of testable hypotheses as has been pointed out in the literature. OBJECTIVE The paper aims to clarify the specification of gender equity theory through a discussion of the difference between equity and equality and to suggest methods that might be applied to test the theory. METHODS The theory is restated and further developed using literature from different disciplines. The method is described using a decomposition of fertility for women by human capital levels. RESULTS The clarification of the theory includes a reminder that the theory relates to differences in fertility between countries and not to differences in fertility between women in the same country. In comparisons between countries, higher gender equity leads to higher fertility. In comparisons of fertility across women in the same country, higher gender equity does not necessarily imply higher fertility. In relation to measurement, a specification is suggested that effectively compares women across countries controlling for their level of human capital. Simple graphics are used to indicate ways in which fertility between countries may vary. CONCLUSIONS The paper concludes that it is likely the gender equity theory can be tested more readily by examining the behaviour across countries of women with higher levels of human capital.

How do health insurer market concentration and bargaining power with hospitals affect health insurance premiums?

Science.gov (United States)

Trish, Erin E; Herring, Bradley J

2015-07-01

The US health insurance industry is highly concentrated, and health insurance premiums are high and rising rapidly. Policymakers have focused on the possible link between the two, leading to ACA provisions to increase insurer competition. However, while market power may enable insurers to include higher profit margins in their premiums, it may also result in stronger bargaining leverage with hospitals to negotiate lower payment rates to partially offset these higher premiums. We empirically examine the relationship between employer-sponsored fully-insured health insurance premiums and the level of concentration in local insurer and hospital markets using the nationally-representative 2006-2011 KFF/HRET Employer Health Benefits Survey. We exploit a unique feature of employer-sponsored insurance, in which self-insured employers purchase only administrative services from managed care organizations, to disentangle these different effects on insurer concentration by constructing one concentration measure representing fully-insured plans' transactions with employers and the other concentration measure representing insurers' bargaining with hospitals. As expected, we find that premiums are indeed higher for plans sold in markets with higher levels of concentration relevant to insurer transactions with employers, lower for plans in markets with higher levels of insurer concentration relevant to insurer bargaining with hospitals, and higher for plans in markets with higher levels of hospital market concentration. Copyright © 2015 Elsevier B.V. All rights reserved.

Early retirement and the influence on healthcare budgets and insurance premiums in a diabetes population.

Science.gov (United States)

Walzer, Stefan

2007-01-01

To contribute to current discussions about budget impact modeling, two different approaches for the impact of a new pharmaceutical product were analyzed: firstly considering the impact on annual healthcare expenditures only, and secondly additional inclusion of lost insurance premiums due to possible early retirement in patients with chronic diseases. The dynamic model calculates the budget impact from two different perspectives: (a) the impact on healthcare expenditures and (b) on expenditures as well as on health insurance revenues due to premiums. The latter approach could especially be useful for patients with chronic diseases who have higher probabilities of early retirement. Early retirement rates and indirect costs were derived from published data. Healthcare premiums were calculated based on an average premium and a mean income. Epidemiological input data were obtained from the literature. Time horizon was 10 years. Results in terms of reimbursement decisions of the budget impact analysis varied depending on the assumptions made for the insurance premiums, costs, and early retirement rate. Sensitivity analyses revealed that in extreme cases the decision for accepting a new pharmaceutical product would probably be negative using approach (a), but positive using approach (b). Depending on the disease and population of interest in a budget impact analysis, not only the healthcare expenditures for a health insurance have to be considered but also the revenue side for an insurance due to retirement should be included.

Pay Equity Act, 17 May 1988.

Science.gov (United States)

1988-01-01

This document contains major provisions of the 1988 Pay Equity Act of Prince Edward Island, Canada. (Nova Scotia enacted similar legislation in 1988.) This act defines "female-dominated class" or "male-dominated class" as a class with 60% or more female or male incumbents, respectively. The objective of this act is to achieve pay equity among public sector employers and employees by identifying systemic gender discrimination through a comparison of the relative wages and value of the work performed by female- and male-dominated classes. The value of work is to be determined by considering the skill, effort, and responsibility required by the work as well as the conditions under which it is performed. A difference in wages between a female- and male-dominated class performing work of equal or comparable value can be justified by a formal performance appraisal system or formal seniority system that does not discriminate on the basis of gender or by a skills shortage which requires a temporary inflation in wages to attract workers for a certain position. No wages shall be reduced to implement pay equity. Implementation of pay equity will include the work of bargaining agents to achieve agreement on salient points. Pay equity may be implemented in four stages over a period of 24 months.

Piecing It Together: The Effect of Background Music on Children's Puzzle Assembly.

Science.gov (United States)

Koolidge, Louis; Holmes, Robyn M

2018-04-01

This study explored the effects of background music on cognitive (puzzle assembly) task performance in young children. Participants were 87 primarily European-American children (38 boys, 49 girls; mean age = 4.77 years) enrolled in early childhood classes in the northeastern United States. Children were given one minute to complete a 12-piece puzzle task in one of three background music conditions: music with lyrics, music without lyrics, and no music. The music selection was "You're Welcome" from the Disney movie "Moana." Results revealed that children who heard the music without lyrics completed more puzzle pieces than children in either the music with lyrics or no music condition. Background music without distracting lyrics may be beneficial and superior to background music with lyrics for young children's cognitive performance even when they are engaged independently in a nonverbal task.

Experimental status of the E/ι puzzle

International Nuclear Information System (INIS)

Lanaro, A.

1996-11-01

Despite the prolonged experimental effort devoted to the spectroscopy of the E/ι mesons, and the intense theoretical debate around this subject, many puzzling issues still prevent from a full understanding of the true scenario. The advent of new and more precise experimental measurements motivates a review on this topic

The VIX, the Variance Premium, and Expected Returns

DEFF Research Database (Denmark)

Osterrieder, Daniela Maria; Ventosa-Santaulària, Daniel; Vera-Valdés, Eduardo

2018-01-01

. These problems are eliminated if risk is captured by the variance premium (VP) instead; it is unobservable, however. We propose a 2SLS estimator that produces consistent estimates without observing the VP. Using this method, we find a positive risk–return trade-off and long-run return predictability. Our...

The Marriage Wealth Premium Revisited: Gender Disparities and Within-Individual Changes in Personal Wealth in Germany.

Science.gov (United States)

Lersch, Philipp M

2017-06-01

This study examines the association between marriage and economic wealth of women and men. Going beyond previous research that focused on household wealth, I examine personal wealth, which allows identifying gender disparities in the association between marriage and wealth. Using unique data from the German Socio-Economic Panel Study (2002, 2007, and 2012), I apply random-effects and fixed-effects regression models to test my expectations. I find that both women and men experience substantial marriage wealth premiums not only in household wealth but also in personal wealth. However, I do not find consistent evidence for gender disparities in these general marriage premiums. Additional analyses indicate, however, that women's marriage premiums are substantially lower than men's premiums in older cohorts and when only nonhousing wealth is considered. Overall, this study provides new evidence that women and men gain unequally in their wealth attainment through marriage.

The Underreaction Hypothesis and the New Issue Puzzle: Evidence from Japan

OpenAIRE

Jun-Koo Kang; Yong-Cheol Kim; Rene M. Stulz

1996-01-01

This paper investigates the long-term performance of Japanese firms issuing convertible debt or equity. We find that these firms perform poorly even though the stock-price reaction to convertible debt and equity issue announcements is not significantly negative for Japanese firms and Japanese firms do not issue equity or convertible debt following strong positive abnormal returns. Whereas in the U.S. underperformance appears to be concentrated in the smaller firms and in the firms with a high...

ACCOUNTING, TAX AND FINANCIAL APPROACHES CONCERNING THE CONCEPT OF EQUITY

Directory of Open Access Journals (Sweden)

Mihaela TULVINSCHI

2016-12-01

Full Text Available Substantiating the concept of equity is an issue of interest to specialists in accounting, taxation and finance. The purpose of this article is to present three of the sensitive issues generated by the concept of equity. One aspect considered is the demarcation of financial liabilities from the equity instruments. The distinction between equity and debt instruments is necessary because it has consequences on financial reporting. A second part of the study focuses on the fiscal side, trying to find the answer to the question: Are there deferred taxes recognized in equity? Deferred tax liabilities will be presented at the end of the year in equity and not debt, because they are related to gains recorded directly in equity. The third part of the article discusses the financial importance of equity, focusing on subscription and attribution rights as financial instruments used when raising capital. By creating subscription rights it is desired to obtain immediate funds needed to finance the entity.

Equity Theory Ratios as Causal Schemas

Directory of Open Access Journals (Sweden)

Alexios Arvanitis

2016-08-01

Full Text Available Equity theory approaches justice evaluations based on ratios of exchange inputs to exchange outcomes. Situations are evaluated as just if ratios are equal and unjust if unequal. We suggest that equity ratios serve a more fundamental cognitive function than the evaluation of justice. More particularly, we propose that they serve as causal schemas for exchange outcomes, that is, they assist in determining whether certain outcomes are caused by inputs of other people in the context of an exchange process. Equality or inequality of ratios in this sense points to an exchange process. Indeed, Study 1 shows that different exchange situations, such as disproportional or balanced proportional situations, create perceptions of give-and-take on the basis of equity ratios. Study 2 shows that perceptions of justice are based more on communicatively accepted rules of interaction than equity-based evaluations, thereby offering a distinction between an attribution and an evaluation cognitive process for exchange outcomes.

Equity Theory Ratios as Causal Schemas.

Science.gov (United States)

Arvanitis, Alexios; Hantzi, Alexandra

2016-01-01

Equity theory approaches justice evaluations based on ratios of exchange inputs to exchange outcomes. Situations are evaluated as just if ratios are equal and unjust if unequal. We suggest that equity ratios serve a more fundamental cognitive function than the evaluation of justice. More particularly, we propose that they serve as causal schemas for exchange outcomes, that is, they assist in determining whether certain outcomes are caused by inputs of other people in the context of an exchange process. Equality or inequality of ratios in this sense points to an exchange process. Indeed, Study 1 shows that different exchange situations, such as disproportional or balanced proportional situations, create perceptions of give-and-take on the basis of equity ratios. Study 2 shows that perceptions of justice are based more on communicatively accepted rules of interaction than equity-based evaluations, thereby offering a distinction between an attribution and an evaluation cognitive process for exchange outcomes.

Private label brand equity: a conceptual framework

OpenAIRE

Xara-Brasil, Duarte; Marreiros, Cristina; Dionísio, Andreia

2012-01-01

Trabalho apresentado na AMA/ACRA First Triennial Conference, 18-21 de abril de 2012, Seattle, USA This paper presents a conceptual framework to analyze private label brand equity in a retail context. Several authors proposed brand equity models as Aaker (1996), Keller (1993) and Yoo and Donthu (2001), and specific research has been done in retail industry (Jara & Cliquet, 2009), (Pappu & Quester, 2006). To study private label brand equity, we suggest a framework based on the Yo...

Nature's Greatest Puzzles

Energy Technology Data Exchange (ETDEWEB)

Quigg, Chris; /Fermilab

2005-02-01

It is a pleasure to be part of the SLAC Summer Institute again, not simply because it is one of the great traditions in our field, but because this is a moment of great promise for particle physics. I look forward to exploring many opportunities with you over the course of our two weeks together. My first task in talking about Nature's Greatest Puzzles, the title of this year's Summer Institute, is to deconstruct the premise a little bit.

The Incomplete Glutathione Puzzle: Just Guessing at Numbers and Figures?

Science.gov (United States)

Deponte, Marcel

2017-11-20

Glutathione metabolism is comparable to a jigsaw puzzle with too many pieces. It is supposed to comprise (i) the reduction of disulfides, hydroperoxides, sulfenic acids, and nitrosothiols, (ii) the detoxification of aldehydes, xenobiotics, and heavy metals, and (iii) the synthesis of eicosanoids, steroids, and iron-sulfur clusters. In addition, glutathione affects oxidative protein folding and redox signaling. Here, I try to provide an overview on the relevance of glutathione-dependent pathways with an emphasis on quantitative data. Recent Advances: Intracellular redox measurements reveal that the cytosol, the nucleus, and mitochondria contain very little glutathione disulfide and that oxidative challenges are rapidly counterbalanced. Genetic approaches suggest that iron metabolism is the centerpiece of the glutathione puzzle in yeast. Furthermore, recent biochemical studies provide novel insights on glutathione transport processes and uncoupling mechanisms. Which parts of the glutathione puzzle are most relevant? Does this explain the high intracellular concentrations of reduced glutathione? How can iron-sulfur cluster biogenesis, oxidative protein folding, or redox signaling occur at high glutathione concentrations? Answers to these questions not only seem to depend on the organism, cell type, and subcellular compartment but also on different ideologies among researchers. A rational approach to compare the relevance of glutathione-dependent pathways is to combine genetic and quantitative kinetic data. However, there are still many missing pieces and too little is known about the compartment-specific repertoire and concentration of numerous metabolites, substrates, enzymes, and transporters as well as rate constants and enzyme kinetic patterns. Gathering this information might require the development of novel tools but is crucial to address potential kinetic competitions and to decipher uncoupling mechanisms to solve the glutathione puzzle. Antioxid. Redox Signal

PUZZLES – A CREATIVE WAY OF DEVELOPMENT OF LOGICAL THINKING

Directory of Open Access Journals (Sweden)

Milková, Eva

2011-12-01

Full Text Available Logical thinking of students should be enhanced at all levels of their studies. There are many possibilities how to achieve it. In the paper one possible way within the subjects “Discrete Mathematics” and “Discrete Methods and Optimization” dealing with graph theory and combinatorial optimization will be presented. These mathematical disciplines are powerful tools for teachers allowing them to develop logical thinking of students, increase their imagination and make them familiar with solutions to various problems. Thanks the knowledge gained within the subjects students should be able to describe various practical situations with the aid of graphs, solve the given problem expressed by the graph, and translate the solution back into the initial situation. Student engagement is crucial for successful education. Practical tasks and puzzles attract students to know more about the explained subject matter and to apply gained knowledge. There are an endless number of enjoyable tasks, puzzles and logic problems in books like “Mathematics is Fun”, in riddles magazines and on the Internet. In the paper, as an inspiration, four puzzles developing logical thinking appropriate to be solved using graph theory and combinatorial optimization will be introduced. On these puzzles of different level of difficulty the students’ ability to find out the appropriate graph-representation of the given task and solve it will be discussed as well. The author of the paper has been prepared with her students various multimedia applications dealing with objects appropriate to subject matter for more than 15 years. In the paper we also discuss a benefit of multimedia applications used as a support of subjects “Discrete Mathematics” and “Discrete Methods and Optimization”.

38 CFR 8.14 - Provision for extended term insurance-other than 5-year level premium term or limited convertible...

Science.gov (United States)

2010-07-01

... under 38 U.S.C. 1925, will purchase when applied as a net single premium at the attained age of the... indebtedness for such time from the due date of the premium in default as the reserve of the policy less any indebtedness will purchase when applied as a net single premium at the attained age of the insured. For this...

The puzzle of the ultra-high energy cosmic rays

CERN Document Server

Tkachev, I I

2003-01-01

In early years the cosmic ray studies were ahead of accelerator research, starting from the discovery of positrons, through muons, to that of pions and strange particles. Today we are facing the situation that the puzzling saga of cosmic rays of the highest energies may again unfold in the discovery of new physics, now beyond the Standard Model; or it may bring to life an "extreme" astrophysics. After a short review of the Greisen-Zatsepin-Kuzmin puzzle, I discuss different models which were suggested for its resolution. Are there any hints pointing to the correct model? I argue that the small-scale clustering of arrival directions of cosmic rays gives a clue, and BL Lacs are the probable sources of the observed events. (58 refs).

Expectations and forward risk premium in the Spanish deregulated power market

International Nuclear Information System (INIS)

Furio, Dolores; Meneu, Vicente

2010-01-01

Deregulation in energy markets has entailed important changes in the way agents conduct business. Price risk arises as a result of fluctuations in the future price of electricity and agents assume long or short positions in the forward and spot markets to hedge their exposure to price risk. The presence of forward risk premium in prices is evidence of the fact that agents act in the market according to risk considerations. This work aims to analyse the information content of the difference between the forward and spot prices (the so-called forward premium) regarding the agents' decisions. We find that the sign and magnitude of the ex post forward premium depend on the unexpected variation in demand and on the unexpected variation in the hydroelectric capacity, and that both the ex post and the ex ante forward premia are negatively related to the variance of spot price, as predict. We provide additional insights about relevant aspects of spot price pricing in the Spanish electricity market such as the positive relation between spot prices and CO 2 emission allowance prices or the impact on spot prices of the set of market matching rules introduced in March 2006.

Covering bariatric surgery has minimal effect on insurance premium costs within the Affordable Care Act.

Science.gov (United States)

English, Wayne; Williams, Brandon; Scott, John; Morton, John

2016-06-01

Currently, of the 51 state health exchanges operating under the Affordable Care Act, only 23 include benchmark plans that cover bariatric surgery coverage. Bariatric surgery coverage is not considered an essential health benefit in 28 state exchanges, and this lack of coverage has a discriminatory and detrimental impact on millions of Americans participating in state exchanges that do not provide bariatric surgery coverage. We examined 3 state exchanges in which a portion of their plans provided coverage for bariatric surgery to determine if bariatric surgery coverage is correlated with premium costs. State health exchanges; United States. Data from the 2015 state exchange plans were analyzed using information from the Centers for Medicare & Medicaid Services' Individual Market Landscape file and Benefits and Cost Sharing public use files. Only 3 states (Oklahoma, Oregon, and Virginia) in the analysis have 1 or more rating regions in which a portion of the plans cover bariatric surgery. In Oklahoma and Oregon, the average monthly premiums for all bronze, silver, and gold coverage levels are higher for plans covering bariatric surgery. Only 1 of these states included platinum plans that cover bariatric surgery. The average difference in premiums was between $1 to $45 higher in Oklahoma, and $18 to $32 higher in Oregon. Conversely, in Virginia, the average monthly premiums are between $2 and $21 lower for each level for plans covering bariatric surgery. Monthly premiums for plans covering versus not covering bariatric surgery ranged from 6% lower to 15% higher in the same geographic rating region. Across all 3 states in the sample, the average monthly premiums do not differ consistently on the basis of whether the state exchange plans cover bariatric surgery. Copyright © 2016 American Society for Bariatric Surgery. Published by Elsevier Inc. All rights reserved.

A comparison of temperature increases produced by "premium" and "standard" diamond burs: An in-vitro study.

Science.gov (United States)

Segal, Pnina; Sap, Danny; Ben-Amar, Ariel; Levartovsky, Shifra; Matalon, Shlomo

2016-02-01

Vital tooth preparations may cause irreversible thermal damage to the pulp. The manufacturing techniques of dental burs may decrease heat production and minimize the risk of overheating and trauma to the dental pulp. Strauss (Raanana, Israel) has introduced "premium" diamond burs, claiming superior efficiency and longevity. We sought to determine the safest preparation methods by performing a comparison of intrapulpal temperature increases caused with "standard" and "premium" burs. Three types of diamond burs (F1R, F21R, and K2) were tested on extracted human teeth (n = 8 teeth per bur type). Premium and standard manufacturing techniques were compared for each bur type (n = 24 teeth per group; total 48 teeth). An intrapulpal thermocouple was used to measure the temperature during the procedure. Comparisons were analyzed with the t test and one-way ANOVA. P ≤ .05 was considered significant. All premium burs demonstrated lower temperature increases compared to the standard burs (P ≤ .001 for F21R and K2, P = .086 for F1R). The temperature increases with premium burs were similar for different bur shapes, but the temperature increases with standard burs depended on the bur shape (P pulp tissue damage, and thus reduce postoperative pulp-associated complications.

Food puzzles for cats: Feeding for physical and emotional wellbeing.

Science.gov (United States)

Dantas, Leticia Ms; Delgado, Mikel M; Johnson, Ingrid; Buffington, Ca Tony

2016-09-01

Many pet cats are kept indoors for a variety of reasons (eg, safety, health, avoidance of wildlife predation) in conditions that are perhaps the least natural to them. Indoor housing has been associated with health issues, such as chronic lower urinary tract signs, and development of problem behaviors, which can cause weakening of the human-animal bond and lead to euthanasia of the cat. Environmental enrichment may mitigate the effects of these problems and one approach is to take advantage of cats' natural instinct to work for their food. In this article we aim to equip veterinary professionals with the tools to assist clients in the use of food puzzles for their cats as a way to support feline physical health and emotional wellbeing. We outline different types of food puzzles, and explain how to introduce them to cats and how to troubleshoot challenges with their use. The effect of food puzzles on cats is a relatively new area of study, so as well as reviewing the existing empirical evidence, we provide case studies from our veterinary and behavioral practices showing health and behavioral benefits resulting from their use. © The Author(s) 2016.

What stock market returns to expect for the future?

Science.gov (United States)

Diamond, P A

2000-01-01

In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent implies a long-run equity premium of 4.0 percent. There are two equity-premium concepts: the realized equity premium, which is measured by the actual rates of return; and the required equity premium, which investors expect to receive for being willing to hold available stocks and bonds. Over the past two centuries, the realized premium was 3.5 percent on average, but 5.2 percent for 1926 to 1998. Some critics argue that the 7.0 percent projected stock returns are too high. They base their arguments on recent developments in the capital market, the current high value of the stock market, and the expectation of slower economic growth. Increased use of mutual funds and the decline in their costs suggest a lower required premium, as does the rising fraction of the American public investing in stocks. The size of the decrease is limited, however, because the largest cost savings do not apply to the very wealthy and to large institutional investors, who hold a much larger share of the stock market's total value than do new investors. These trends suggest a lower equity premium for projections than the 5.2 percent of the past 75 years. Also, a declining required premium is likely to imply a temporary increase in the realized premium because a rising willingness to hold stocks tends to increase their price. Therefore, it would be a mistake during a transition period to extrapolate what may be a temporarily high realized return. In the standard (Solow) economic growth model, an assumption of slower long-run growth lowers the marginal product of capital if the savings rate is constant

The Crossword Puzzle as a Teaching Tool.

Science.gov (United States)

Crossman, Edward K.

1983-01-01

In courses such as the history of psychology, it is necessary to learn a variety of relationships, events, and sequences, in addition to the task of having to pair certain key concepts with related names, e.g., phrenology--Hall. One tool useful in this type of learning is the crossword puzzle. (RM)