Exploration of a novel bootstrap technique for estimating the distribution of outstanding claims reserves in general insurance

This is a report on an exploration of the effectiveness of a novel non-parametric bootstrap method for estimating claims reserves, which we call the local chain ladder bootstrap technique. The method is simple and can readily be implemented in a spreadsheet. In addition analytic estimates of the first few moments of reserves are shown to the readily evaluated, obviating the need for simulation if desired. The behaviour of the method on three datasets is presented and compared to published predictions of some other stochastic methods. In addition, a small study of the method using simulated claims triangles is presented and compared with other stochastic models

Gini, deprivation and complaints

Recent insights from the philosopher Larry Temkin have suggested a new basis for the measurement of income inequality, founded on the notion of individual “complaints” about income distribution. Under certain specifications of the relationship between complaints and personal incomes it can be shown that a concept similar to the concept of deprivation then emerges. In turn deprivation is related to the Gini index and to poverty. The paper examines the relationships between the Gini index and Lorenz orderings on the one hand and deprivation, poverty and complaints on the other hand

Theil, Inequality Indices and Decomposition

Theil’s approach to the measurement of inequality is set in the context of subsequent developments over recent decades. It is shown that Theil’s initial insight leads naturally to a very general class of decomposable inequality measures. It is thus closely related to a number of other commonly used families of inequality measures.Theil, inequality; independence; homotheticity; translatability

An Empirical Analysis of the Factors Affecting College Quarterback Prospect Signing Bonuses

This paper provides an empirical analysis of the factors that affect the NFL signing bonuses for college quarterbacks. Our sample data is drawn from the official ESPN website, Spotrac, and the official NFL website for the years 2005-2016. It is composed of bonus data for college quarterbacks who were drafted into the NFL and received a signing bonus. Our explanatory variables include the quarterbacks’ total quarterback rating (QBR), height, weight, and dummy variables that control for the major conferences. We found that QBR and ratio of height to weight significantly affect signing bonuses

Inequality, welfare and monotonicity

We stablish a general relationship between the standard form of the individualistic social-welfare function and the "reduced-form" version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the equity-efficient trade-off. Particularly simple results are available for a large class of inequality measures that includes the Gini. These results do not require differentiability of the social-welfare function