10,353 research outputs found
The priority view
According to the priority view, or prioritarianism, it matters more to beneïŹt people the worse oïŹ they are. But how exactly should the priority view be deïŹned? This article argues for a highly general characterization which essentially involves risk, but makes no use of evaluative measurements or the expected utility axioms. A representation theorem is provided, and when further assumptions are added, common accounts of the priority view are recovered. A defense of the key idea behind the priority view, the priority principle, is provided. But it is argued that the priority view fails on both ethical and conceptual grounds
Committed to Safety: Ten Case Studies on Reducing Harm to Patients
Presents case studies of healthcare organizations, clinical teams, and learning collaborations to illustrate successful innovations for improving patient safety nationwide. Includes actions taken, results achieved, lessons learned, and recommendations
Continuity and completeness of strongly independent preorders
A strongly independent preorder on a possibly infinite dimensional convex set that satisfies two of the following conditions must satisfy the third: (i) the Archimedean continuity condition; (ii) mixture continuity; and (iii) comparability under the preorder is an equivalence relation. In addition, if the preorder is nontrivial (has nonempty asymmetric part) and satisfies two of the following conditions, it must satisfy the third: (i') a modest strengthening of the Archimedean condition; (ii') mixture continuity; and (iii') completeness. Applications to decision making under conditions of risk and uncertainty are provided
Annuities for an ageing world
Substantial research attention has been devoted to the pension accumulation process, whereby employees and those advising them work to accumulate funds for retirement. Until recently, less analysis has been devoted to the pension decumulation process â the process by which retirees finance their consumption during retirement. This gap has recently begun to be filled by an active group of researchers examining key aspects of the pension payout market. One of the areas of most interesting investigation has been in the area of annuities, which are financial products intended to cover the risk of retirees outliving their assets. This paper reviews and extends recent research examining the role of annuities in helping finance retirement consumption. We also examine key market and regulatory factors
Representation of strongly independent preorders by sets of scalar-valued functions
We provide conditions under which an incomplete strongly independent preorder on a convex set X can be represented by a set of mixture preserving real-valued functions. We allow X to be infinite dimensional. The main continuity condition we focus on is mixture continuity. This is sufficient for such a representation provided X has countable dimension or satisfies a condition that we call Polarization
International Adverse Selection in Life Insurance and Annuities
This paper evaluates the extent of adverse selection in life insurance and annuities in international markets, for both group and individual products. We also compare results with prior analyses of adverse selection in international annuity markets, focusing on the US, the UK, and Japan. Our results help assess the extent to which life insurers can hedge mortality exposure by writing both life insurance and annuities, and they may be used to determine a normal range for adverse selection in international insurance markets.
Annuities for an Ageing World
Substantial research attention has been devoted to the pension accumulation process, whereby employees and those advising them work to accumulate funds for retirement. Until recently, less analysis has been devoted to the pension decumulation process -- the process by which retirees finance their consumption during retirement. This gap has recently begun to be filled by an active group of researchers examining key aspects of the pension payout market. One of the areas of most interesting investigation has been in the area of annuities, which are financial products intended to cover the risk of retirees outliving their assets. This paper reviews and extends recent research examining the role of annuities in helping finance retirement consumption. We also examine key market and regulatory factors.
Breakdown of the Equal Area Law for Holographic Entanglement Entropy
We investigate a holographic version of Maxwell's equal area law analogous to
that for the phase transition in the black hole temperature/black hole entropy
plane of a charged AdS black hole. We consider proposed area laws for both the
black hole temperature/holographic entanglement entropy plane and the black
hole temperature/2-point correlation function plane. Despite recent claims to
the contrary, we demonstrate numerically that neither proposal is valid. We
argue that there is no physical reason to expect such a construction in these
planes.Comment: 17 pages, 8 figures. v2: Added appendix and discussio
Utilitarianism with and without expected utility
We give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations. Intra and interpersonal welfare comparisons are encoded in a single âindividual preorderâ. The theorems give axioms that uniquely determine a social preorder in terms of this individual preorder. The social preorders described by these theorems have features that may be considered characteristic of Harsanyi-style utilitarianism, such as indifference to ex ante and ex post equality. However, the theorems are also consistent with the rejection of all of the expected utility axioms, completeness, continuity, and independence, at both the individual and social levels. In that sense, expected utility is inessential to Harsanyi-style utilitarianism. In fact, the variable population theorem imposes only a mild constraint on the individual preorder, while the constant population theorem imposes no constraint at all. We then derive further results under the assumption of our basic axioms. First, the individual preorder satisfies the main expected utility axiom of strong independence if and only if the social preorder has a vector-valued expected total utility representation, covering Harsanyiâs utilitarian theorem as a special case. Second, stronger utilitarian-friendly assumptions, like Pareto or strong separability, are essentially equivalent to strong independence. Third, if the individual preorder satisfies a âlocal expected utilityâ condition popular in non-expected utility theory, then the social preorder has a âlocal expected total utilityâ representation. Fourth, a wide range of non-expected utility theories nevertheless lead to social preorders of outcomes that have been seen as canonically egalitarian, such as rank-dependent social preorders. Although our aggregation theorems are stated under conditions of risk, they are valid in more general frameworks for representing uncertainty or ambiguity
Peeling Back the Onion of Cyber Espionage after Tallinn 2.0
Tallinn 2.0 represents an important advancement in the understanding of international lawâs application to cyber operations below the threshold of force. Its provisions on cyber espionage will be instrumental to states in grappling with complex legal problems in the area of digital spying. The law of cyber espionage as outlined by Tallinn 2.0, however, is substantially based on rules that have evolved outside of the digital context, and there exist serious ambiguities and limitations in its framework. This Article will explore gaps in the legal structure and consider future options available to states in light of this underlying mismatch
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