Credibility theory and filter theory in discrete and continuous time

It is well known that credibility theory in discrete time is closely related to the discrete technique of Kalman filtering. In this paper we show the close relationship between credibility theory and filter theory in discrete and continuous time as well as between credibility theory in a discrete and continuous time setting. --

A spintronic source of circularly polarized single photons

We present a spintronic single photon source which emits circularly polarized light, where the helicity is determined by an applied magnetic field. Photons are emitted from an InGaAs quantum dot inside an electrically operated spin light-emitting diode, which comprises the diluted magnetic semiconductor ZnMnSe. The circular polarization degree of the emitted light is high, reaching 83% at an applied magnetic field of 2T and 96% at 6 T. Autocorrelation traces recorded in pulsed operation mode prove the emitted light to be antibunched. The two circular polarization states could be used for representing quantum states |0> and |1> in quantum cryptography implementations

Conscience of a Catholic Judge

Symposium theme — Evolving Standards of Decency in 2003: Is the Death Penalty on Life Support

The Meaninglessness of the Plain Meaning Rule

The contemporary lawyer and judge confront, in the mine run of their daily work, a mountain of statutes. In an unprecedented way, law today is statute law, and few legal problems have escaped the tender mercies of the legislature. Statutory interpretation is a daily and pressing task for virtually every lawyer. And yet, there is no generally accepted consistent theory to guide this work. The late Henry Hart and Dean Albert Sacks argue forcefully, [T]he hard truth of the matter is that American courts have no intelligible, generally\u27 accepted, and consistently applied theory of statutory interpretation. \u27 This conclusion is embedded in several hundred pages of case excerpts proving the point beyond dispute. Good legal theory is not an intellectual luxury. If we lack good theory, we will be unable to explain judicial decisions and consumers of the output of our court systems will not believe they have been justly treated. Without the discipline of good theory, we cannot even critique and reform our own work product as lawyers. My thesis in this article is that the so-called plain meaning rule is not only wrong in itself, but is also a major stumbling block hindering the adoption of a sound theory of statutory interpretation. Legal thinking in terms of the rule, whether to follow it or to find an exception, structures our whole approach to statutory interpretation; its repudiation is a present necessity. I wish in this article to summarize criticisms of the plain meaning rule, suggest why it has survived despite criticism, and sketch a theory and practice of statutory interpretation which should replace it

Statistical Foundations of Actuarial Learning and its Applications

This open access book discusses the statistical modeling of insurance problems, a process which comprises data collection, data analysis and statistical model building to forecast insured events that may happen in the future. It presents the mathematical foundations behind these fundamental statistical concepts and how they can be applied in daily actuarial practice. Statistical modeling has a wide range of applications, and, depending on the application, the theoretical aspects may be weighted differently: here the main focus is on prediction rather than explanation. Starting with a presentation of state-of-the-art actuarial models, such as generalized linear models, the book then dives into modern machine learning tools such as neural networks and text recognition to improve predictive modeling with complex features. Providing practitioners with detailed guidance on how to apply machine learning methods to real-world data sets, and how to interpret the results without losing sight of the mathematical assumptions on which these methods are based, the book can serve as a modern basis for an actuarial education syllabus

Effectiveness of In-Person Versus Online Negotiation Teaching for Practitioners

Most negotiation courses have been taught in person. However, online education has become more prevalent over the past decade due to its flexibility, cost and time efficiency, and new digital technologies designed to compensate for the lack of personal contact. The global pandemic has accelerated this trend, raising the question of whether negotiation courses taught online are as effective as those taught in person. The few studies that have examined the effect of teaching modality on student performance were limited to undergraduate and graduate student samples and the results have been mixed. To contribute to this discussion, we conducted two studies with practitioners to examine whether online or in-person instruction is more effective for teaching negotiation skills to experienced negotiators

Tax vs. Regulation Policy and the Location of Financial Sector FDI

This paper analyzes how corporate taxation and regulatory requirements affect the location of financial sector FDI. We use novel information on new financial services entities established by multinational firms in 83 host countries. We find a negative effect of host country taxes on the probability of choosing a particular host location. We can also confirm a significant influence of the regulatory environment. For example, stricter (equity) capital requirements negatively affect location probabilities. Our empirical approach allows us to provide new insight in how a policy measure of a given country affects other countries by estimating cross-country tax and regulation elasticities

How valuable are your customers in the brand value co-creation process? The development of a customer co-creation value (CCCV) scale

Despite an increasing amount of research on co-creation of value, in general, research on brand value co-creation remains limited. Particularly, how much value customers contribute to the brand value co-creation process remains unclear. This research develops in a series of eight studies the Customer Co-Creation Value (CCCV) measurement scale that helps firms assess the value of customers in the brand value co-creation process. The findings reveal that CCCV is a multidimensional construct consisting of two higher-order factors and seven dimensions: customer-owned resources (including brand knowledge, brand skills, brand creativity, and brand connectedness) and customer motivation (comprising brand passion, brand trust, and brand commitment). Further, the CCCV scale reliably and validly gauges the value customers contribute to a firm's brand. The CCCV framework helps marketing managers understand how customers can contribute to a firm's brand value cocreation efforts and how much value customers contribute to a brand in the co-creation process

Statistical Foundations of Actuarial Learning and its Applications

This open access book discusses the statistical modeling of insurance problems, a process which comprises data collection, data analysis and statistical model building to forecast insured events that may happen in the future. It presents the mathematical foundations behind these fundamental statistical concepts and how they can be applied in daily actuarial practice. Statistical modeling has a wide range of applications, and, depending on the application, the theoretical aspects may be weighted differently: here the main focus is on prediction rather than explanation. Starting with a presentation of state-of-the-art actuarial models, such as generalized linear models, the book then dives into modern machine learning tools such as neural networks and text recognition to improve predictive modeling with complex features. Providing practitioners with detailed guidance on how to apply machine learning methods to real-world data sets, and how to interpret the results without losing sight of the mathematical assumptions on which these methods are based, the book can serve as a modern basis for an actuarial education syllabus