Dynamic Prevention in Short Term Insurance Contracts

This paper looks at the dynamic properties of insurance contracts when insurers have better technology at preventing catastrophic losses than the insured. The prevention technology is owned by the insurers and is permanent. If long-term contracts are not possible, the insured is faced with a commitment problem since he may want to renegotiate the contract or change insurer after his initial insurer has invested in prevention. Because of this hold-up problem, we find that the investment in prevention is delayed. Le but de cet article est d'étudier les propriétés dynamiques des contrats d'assurance lorsque les assureurs détiennent une meilleure technologie de prévention des catastrophes que les assurés. Cette technologie est permanente au sens où elle ne se déprécie pas. Si les contrats de long terme ne sont pas possibles, les assurés font face à un problème d'engagement puisqu'ils voudraient renégocier le contrat ou changer d'assureur après que l'assureur initial a investi le montant optimal en prévention. À cause de ce problème de hold-up, nous montrons que l'investissement en prévention est retardé, et ce même si l'assuré demeure avec le même assureur sur tout l'horizon de fonctionnement. Nous montrons également que la dynamique des primes d'assurance diffère d'une suite de primes actuarielles.Insurance, Prevention, Commitment, Contract Theory, Moral Hazard, Assurance, Prévention, Engagement, Théorie des contrats, Aléa Moral

Decoherence without dissipation?

In a recent article, Ford, Lewis and O'Connell (PRA 64, 032101 (2001)) discuss a thought experiment in which a Brownian particle is subjected to a double-slit measurement. Analyzing the decay of the emerging interference pattern, they derive a decoherence rate that is much faster than previous results and even persists in the limit of vanishing dissipation. This result is based on the definition of a certain attenuation factor, which they analyze for short times. In this note, we point out that this attenuation factor captures the physics of decoherence only for times larger than a certain time t_mix, which is the time it takes until the two emerging wave packets begin to overlap. Therefore, the strategy of Ford et al of extracting the decoherence time from the regime t < t_mix is in our opinion not meaningful. If one analyzes the attenuation factor for t > t_mix, one recovers familiar behaviour for the decoherence time; in particular, no decoherence is seen in the absence of dissipation. The latter conclusion is confirmed with a simple calculation of the off-diagonal elements of the reduced density matrix.Comment: 8 pages, 4 figure

A 2D wave finite element-based superelement formulation for acoustic analysis of cavities of arbitrary shapes

International audienceA substructuring technique is proposed which enables fast computation of the acoustic response of arbitrary-shaped 2D cavities subject to different kinds of excitations. It combines rectangular superelements which are modeled by means of the wave finite element (WFE) method, and arbitrary-shaped superelements modeled using component mode synthesis (CMS). Within the WFE framework, the so-called receptance matrices of rectangular superelements — which link the pressure vectors to the acoustic force vectors over the boundaries — can be derived in an efficient way in terms of wave modes, without the need of explicitly condensing the internal degrees of freedom of the systems. A model reduction strategy is proposed which aims at expressing the receptance matrices with a few wave modes only. The proposed strategy involves enclosing each rectangular superelement in a finite element (FE) layer with a small width. In this way, smoothed pressure fields are likely to occur over the WFE superelements, hence enabling these superelements to be described with a few wave modes only. By considering those WFE-based rectangular superelements surrounded by FE layers, this yields the so-called hybrid WFE/FE superelements whose dynamic stiffness matrices can be computed in a very fast way. Modeling a whole arbitrary-shaped acoustic cavity follows from conventional assembly procedure between hybrid WFE/FE superelements, CMS superelements and other FE components. Numerical experiments are carried out to highlight the relevance of the proposed substructuring technique

Phase distortions of attosecond pulses produced by resonance-enhanced high harmonic generation

Resonant enhancement of high harmonic generation can be obtained in plasmas containing ions with strong radiative transitions resonant with harmonic orders. The mechanism for this enhancement is still debated. We perform the first temporal characterization of the attosecond emission from a tin plasma under near-resonant conditions for two different resonance detunings. We show that the resonance considerably changes the relative phase of neighbouring harmonics. For very small detunings, their phase locking may even be lost, evidencing strong phase distortions in the emission process and a modified attosecond structure. These features are well reproduced by our simulations, allowing their interpretation in terms of the phase of the recombination dipole moment

Dynamic Prevention in Short Term Insurance Contracts

Le but de cet article est d'étudier les propriétés dynamiques des contrats d'assurance lorsque les assureurs détiennent une meilleure technologie de prévention des catastrophes que les assurés. Cette technologie est permanente au sens où elle ne se déprécie pas. Si les contrats de long terme ne sont pas possibles, les assurés font face à un problème d'engagement puisqu'ils voudraient renégocier le contrat ou changer d'assureur après que l'assureur initial a investi le montant optimal en prévention. À cause de ce problème de hold-up, nous montrons que l'investissement en prévention est retardé, et ce même si l'assuré demeure avec le même assureur sur tout l'horizon de fonctionnement. Nous montrons également que la dynamique des primes d'assurance diffère d'une suite de primes actuarielles.This paper looks at the dynamic properties of insurance contracts when insurers have better technology at preventing catastrophic losses than the insured. The prevention technology is owned by the insurers and is permanent. If long-term contracts are not possible, the insured is faced with a commitment problem since he may want to renegotiate the contract or change insurer after his initial insurer has invested in prevention. Because of this hold-up problem, we find that the investment in prevention is delayed

Long-term feeding ecology and habitat use in harbour porpoises <i>Phocoena phocoena</i> from Scandinavian waters inferred from trace elements and stable isotopes

Background. We investigated the feeding ecology and habitat use of 32 harbour porpoises by-caught in 4 localities along the Scandinavian coast from the North Sea to the Barents Sea using time-integrative markers: stable isotopes (δ13C, δ15N) and trace elements (Zn, Cu, Fe, Se, total Hg and Cd), in relation to habitat characteristics (bathymetry) and geographic position (latitude). Results. Among the trace elements analysed, only Cd, with an oceanic specific food origin, was found to be useful as an ecological tracer. All other trace elements studied were not useful, most likely because of physiological regulation and/or few specific sources in the food web. The δ13C, δ15N signatures and Cd levels were highly correlated with each other, as well as with local bathymetry and geographic position (latitude). Variation in the isotopic ratios indicated a shift in harbour porpoise's feeding habits from pelagic prey species in deep northern waters to more coastal and/or demersal prey in the relatively shallow North Sea and Skagerrak waters. This result is consistent with stomach content analyses found in the literature. This shift was associated with a northward Cd-enrichment which provides further support to the Cd 'anomaly' previously reported in polar waters and suggests that porpoises in deep northern waters include Cd-contaminated prey in their diet, such as oceanic cephalopods. Conclusion. As stable isotopes and Cd provide information in the medium and the long term respectively, the spatial variation found, shows that harbour porpoises experience different ecological regimes during the year along the Scandinavian coasts, adapting their feeding habits to local oceanographic conditions, without performing extensive migration

Fruit and vegetable consumption among urban Canadian schoolchildren living in a socioeconomically disadvantaged neighbourhood

Purpose: Fruit and vegetable (FV) consumption was examined among children aged seven to 10 years in a London, Ontario, neighbourhood. The goal was to determine areas requiring targeted programs to promote healthy lifestyles. Methods: Data were gathered from 136 students in grades 2 to 4. Each student attended one of four elementary schools within a neighbourhood designated a priority by the City of London Child and Youth Network. The Day in the Life Questionnaire was used to collect the data. Instances of FV consumption were compared with Eating Well with Canada’s Food Guide (CFG) guidelines. Results: Ninety-eight percent of participants did not follow the CFG-recommended minimum guidelines; they had fewer than five instances of FV consumption daily. Eighty-seven percent had fewer than two instances of FV consumption daily. Conclusions: These data support national findings of low FV consumption among children

2 years-long monitoring of <i>Codium elisabethae</i> population dynamics in the Azorian reef ecosystem (Faial Island) with seabed imagery

In the Site of Community Interest (Natura, 2000) of Monte-da-Guia (Faial, Azores), two sites were delimited in order to investigate particularly the links between habitat characteristics, population structure, distribution and dynamics of the green alga Codium elisabethae. The first site is a large protected rocky seafloor of an ancient volcano crater (20m deep) and classified as no-go reserve. It shows very high density stands of Codium elisabethae (up to 105 ind.m-2), representing the main vegetal biomass. At similar depth but distant of about two kilometers, the second site is in a more exposed area, where a sparse population (about 13 ind.m-2) occupies rocky tables and boulders emerging from shallow sandy deposits. These contrasting densities reflect different population dynamic equilibrium resulting from the particular environmental pressures of each site. A two year population survey started in August 2003, aiming principally at building submarine image mosaics of each site on a seasonal basis. Further, a computer assisted detection is run on the images to derive valuable information about the studied macroalgae. This technique allows to study a comparatively large zone regarding to the diving time invested so as to integrate spatial patchiness and to focus on the temporal evolution of well identified individuals. The imagery methodology was validated with in situ measurements, confirming the adequacy of the 1cm precision size histograms produced, when considering individuals larger than 5cm diameter. Seasonal fluctuations of growth rate (from 0.5 to 3cm.month-1) and primary production (from 1 to 15kg.m-².month-1) could be described. For both sites studied, density, biomass and cover rate seemed affected by a seasonal variation with reduction starting in end summer early autumn. In both sites, the reduction was sharp in the fall 2003 and population density didn’t recover completely in spring and summer 2004. During the following year, population of the protected site could maintain density and biomass, while population of the exposed site dropped continuously all year. Last processing step will search to relate statistically these different population evolutions to the benthic environmental constraints measured in both sites during the year 2004-2005 (temperature, currents, turbidity, photosynthetic active radiation, nutrients). Differences in hydrodynamic exposure of both sites could be part of the answer, but observed differences in the reproduction intensity of these two populations is an important factor, and remains unexplained