A conceptual framework for retirement products : Risk sharing arrangements between providers and retirees

Voluntary annuity markets are, in most countries, smaller than what the theoretical and part of the empirical literature would suggest. There are both demand and supply constraints that hamper the development of annuity markets. In particular, traditional products available in most countries can require excessive minimum capital requirements for given investment opportunities available to providers. Investment and longevity risk should be shared between providers and annuitants so that supply constraints can be relaxed. Alternative annuity products, which imply risk sharing, could be backed by substantially lower capital investments or, equivalently, provided at substantially lower prices to consumers.Insurance&Risk Mitigation,Environmental Economics&Policies,Pensions&Retirement Systems,Economic Theory&Research,Non Bank Financial Institutions,Insurance&Risk Mitigation,Pensions&Retirement Systems,Economic Theory&Research,Environmental Economics&Policies,Non Bank Financial Institutions

A Survey of Lawyers’ Cyber Security Practises in Western Australia

This paper reports on the results of a survey that is the initial phase of an action research project being conducted with the Law Society of Western Australia. The online survey forms a baseline for the expression of a targeted training regime aimed at improving the cyber security awareness and posture of the membership of the Society. The full complement of over 3000 members were given the opportunity to participate in the survey, with 122 members responding in this initial round. The survey was designed to elicit responses about information technology use and the awareness of good practices with respect to cyber security within the legal profession. The legal profession is one of the most sensitive with respect to loss of information that would affect legal professional privilege where exposure can have catastrophic consequences. We found that, comparable with other professions, lawyers do claim to use effective countermeasures on their laptops, but largely ignore their mobile phones, which highlights a particular class of risks for the profession

The Effects of Nutrition Package Claims, Nutrition Facts Panels, and Motivation to Process Nutrition Information on Consumer Product Evaluations

In a laboratory experiment using a between-subjects design, the authors examine the effects on nutrition and product evaluations of nutrition claims made (e.g., 99% fat free; low in calories ) on a product package, product nutrition value levels, and enduring motivation to process nutrition information. Enduring motivation is shown to moderate the effects of product nutrition value on consumer evaluations. Also, nutrition claims interact with product nutrition value in affecting consumer perceptions of manufacturer credibility. Given the availability of nutrient levels in the Nutrition Facts panel on the back of the mock package, nutrition claims on the front of the package generally did not affect positively consumers\u27 overall product and purchase intention evaluations. The authors discuss some implications of these findings, suggestions for further research, and study limitations

Discerning Trends in Performance Across Multiple Events

Mass Data is a computer program that enables rapid, easy discernment of trends in performance data across multiple flights and ground tests. The program can perform Fourier analysis and other functions for the purposes of frequency analysis and trending of all variables. These functions facilitate identification of past use of diagnosed systems and of anomalies in such systems, and enable rapid assessment of related current problems. Many variables, for computation of which it is usually necessary to perform extensive manual manipulation of raw downlist data, are automatically computed and made available to all users, regularly eliminating the need for what would otherwise be an extensive amount of engineering analysis. Data from flight, ground test, and simulation are preprocessed and stored in one central location for instantaneous access and comparison for diagnostic and trending purposes. Rules are created so that an event log is created for every flight, making it easy to locate information on similar maneuvers across many flights. The same rules can be created for test sets and simulations, and are searchable, so that information on like events is easily accessible

Why Penetration Testing is a Limited Use Choice for Sound Cyber Security Practice

Penetration testing of networks is a process that is overused when demonstrating or evaluating the cyber security posture of an organisation. Most penetration testing is not aligned with the actual intent of the testing, but rather is driven by a management directive of wanting to be seen to be addressing the issue of cyber security. The use of penetration testing is commonly a reaction to an adverse audit outcome or as a result of being penetrated in the first place. Penetration testing used in this fashion delivers little or no value to the organisation being tested for a number of reasons. First, a test is only as good as the tools, the tester and the methodology being applied. Second, the results are largely temporal. That is, the test will likely only find known vulnerabilities that exist at one specific point in time and not larger longitudinal flaws with the cyber security of an organisation, one such flaw commonly being governance. Finally, in many cases, one has to question what the point is in breaking the already broken. Penetration testing has its place when used judiciously and as part of an overall review and audit of cyber security. It can be an invaluable tool to assess the ability of a system to survive a sustained attack if properly scoped and deployed. However, it is our assessment and judgement that this rarely occurs. Keywords: cyber security, penetration testing, vulnerability assessmen

Culling as an Exploratory Field Technique to Reduce Overall Mortality During a Pasturella Spp. Outbreak in a Montana Bighorn Sheep Population

Several herds of Rocky Mountain bighorn sheep (Ovis Canadensis) in the United States and Canada have experienced all-age die-offs during outbreaks of Pasturella spp. Induced pneumonia. Isolating triggers and remedies for these die-offs remains elusive. Montana Fish, Wildlife and Parks used the statewide Draft Sheep Conservation Strategy as a guide in establishing a field culling-mobile laboratory-media response to a pneumonia/complex outbreak in the East Fork Bitterroot bighorn sheep herd. Montana Fish, Wildlife and Parks employees along with volunteers from the Ravalli County Fish and Wildlife Association, Wild Sheep Foundation and the USDA Forest Service culled 76 sheep from a herd numbering at least 187 animals according to spring 2009 aerial observations. Field personnel discovered six recent bighorn sheep carcasses when culling efforts began in late November. Field personnel discovered one additional bighorn carcass during the three-month culling process. Lab experts conducting onsite necropsies observed evidence of infection in 73 (96%) of the culled sheep. State biologists observed 93 bighorns on this winter range during a cursory aerial survey conducted on 28 December 2009. Preliminary observations from comparing results of sheep selected for culling to field necropsies suggest field personnel detect infected sheep with a high degree of accuracy. We suggest that this technique prevented additional mortalities directly related to pneumonia