Fair decomposition of group obligations

We consider the problem of decomposing a group norm into a set of individual obligations for the agents comprising the group, such that if the individual obligations are fulfilled, the group obligation is fulfilled. Such an assignment of tasks to agents is often subject to additional social or organisational norms that specify permissible ways in which tasks can be assigned. An important role of social norms is that they can be used to impose ‘fairness constraints’, which seek to distribute individual responsibility for discharging the group norm in a ‘fair’ or ‘equitable’ way. We propose a simple language for this kind of fairness constraints and analyse the problem of computing a fair decomposition of a group obligation, both for non-repeating and for repeating group obligations

Measuring Social Security's Financial Problems

The U.S. Social Security system has helped keep many retirees out of poverty. However, according to the Social Security and Medicare Trustees, Social Security faces a future financial shortfall of $10.4 trillion in present value. This enormous imbalance has received little attention in public debates about Social Security. Instead, the media and policymakers continue to focus on the program's trust fund and several other ad-hoc measures that create a misleading impression of the size of Social Security's financial problem. Although the Social Security Trust Fund is not projected to be exhausted until 2042, Social Security's$10.4 trillion present value imbalance is accruing interest and will grow by $600 billion during 2004 alone. The current cash-flow federal budget, however, is biased against reforms that would improve Social Security's finances. As shown herein, a new federal accounting system would remove this bias.

Gaming in a benchmarking environment. A non-parametric analysis of benchmarking in the water sector

This paper discusses the use of benchmarking in general and its application to the drinking water sector. It systematizes the various classifications on performance measurement, discusses some of the pitfalls of benchmark studies and provides some examples of benchmarking in the water sector. After presenting in detail the institutional framework of the water sector of the Belgian region of Flanders (without benchmarking experiences), Wallonia (recently started a public benchmark) and the Netherlands (introduced already in 1997 a public benchmark), we non-parametrically measure the productivity gains by the use of a dynamic Malmquist index. The three regions, each at a different stage of the benchmarking circle, exhibit different performance trends. The ‘carrot’ and the ‘stick’ of benchmarking seem to offer an effective incentive to trigger performance. In addition, the Malmquist decompositions provide some evidence on the ‘gaming’ of the stakeholders by the water utilities.Benchmarking; gaming; Malmquist decomposition; regulation; water sector

Modern biomass-based transportation fuels from pyrolysis process, bio-ethanol, bio-methanol and bio-diesel

In this paper, the modern biomass-based transportation fuels such as fuels from Pyrolysis process, bio-ethanol, bio-methanol, and bio-diesel are briefly reviewed. Here, the term bio-fuel and non-organic fuel is referred to as liquid or gaseous fuels for the transport sector that are predominantly produced from biomass. There are several reasons for bio-fuels and non-organic fuel to be considered as relevant technologies by both developing and industrialized countries. They include energy security reasons, environmental concerns, foreign exchange savings, and socioeconomic issues related to the rural sector. The term modern biomass is generally used to describe the traditional biomass use through the efficient and clean combustion technologies and sustained supply of biomass resources, environmentally sound and competitive fuels, heat and electricity using modern conversion technologies. Modern bio-mass can be used for the generation of electricity and heat. Bio-ethanol, bio-methanol and bio-diesel as well as diesel produced from biomass by Pyrolysis process are the most modern biomass-based transportation fuels. Bio-ethanol is a petrol additive/substitute

Policies for an Ageing Workforce Work-life balance, working conditions and equal opportunities 2019

At a time of rapid population ageing, a key means of sustaining current welfare states is to extend the length of working lives. In 2050, the share of people over the age of 75 years will be the same as the share over 65 years today. And just as not all are able to work to the age of 65 now, not everyone will be able to work to the age of 75 in 2050; even if future older workers will in all likelihood be healthier and have better working aids at their disposal. Extending average working lives by 10 years, and at the same time ensuring an adequate social safety net for those unable to work into their late 60s and 70s, is a major social policy challenge for the coming decades. And because people are much more likely to work late in life if they had stable careers before reaching 60, tackling this policy challenge means pulling on many more social policy levers than just pension policy. While being keenly aware of these issues and how they relate to the overall agenda of active ageing, Commissioner Thyssen also reminds us in her Foreword that marked increases in life expectancy – both past and in the future – represent enormous social progress. The Commissioner makes the point that older people too contribute to society. And more so with lifelong learning and investment in skills

Risk-based supervision of pension institutions in Denmark

This paper examines the move towards risk-based supervision of pension institutions in Denmark. Although Denmark has not adopted a comprehensive model to assess risk it has developed a number of building blocks which it uses for risk-based assessment. The motivations for improving risk assessment include a desire to identify emerging problems, and concerns about the solvency of pension institutions. In Denmark there is extensive use of guaranteed minimum returns in both the accumulation and payout phases which create substantial obligations on pension institutions, and focus attention on the integrity and solvency of the institutions which provide them. In conjunction with freeing up investment restrictions and moving towards market valuation of assets, the supervisor has introduced a'traffic light'stress test model which calculates the effect of several market scenarios - the red test which is the more plausible and the yellow test which is possible but less likely. In addition to the use of the traffic light system, there has been a growing emphasis on the adequacy of internal risk control systems and greater reliance on market discipline. Pension institutions have sought to reduce their exposure to market volatility by better matching of assets and liabilities. There is a much better understanding of the risks inherent in the pension institutions'portfolios, and there has been a substantial increase in the use of hedging instruments.Debt Markets,,Emerging Markets,Insurance&Risk Mitigation,Banks&Banking Reform

Actor perception in business use case modeling

Mainstream literature recognizes the validity and effectiveness of use cases as a technique for gathering and capturing system requirements. Use cases represent the driver of various modern development methods, mainly of object-oriented extraction, such as the Unified Process. Although the adoption of use cases proliferated in the context of software systems development, they are not as extensively employed in business modeling . The concept of business use case is not a novelty, but only recently did it begin to re-circulate in the literature and in case tools. This paper examines the issues involved in adopting business use cases for capturing the functionality of an organization and proposes guidelines for their identification, packaging, and mapping to system use cases. The proposed guidelines are based on the principle of actor perception described in the paper. The application of this principle is exemplified with a worked example aimed at demonstrating the utility of the proposed guidelines and at clarifying the application of the principle of actor perception. The worked example is based on a series of workshops run at a major UK financial institution