Description: This paper focuses on the role of holism in enterprise risk management ERM. The performance measure known as market consistent embedded value is discounted for being overly reductionistic. The concept of an economic capital charge or credit is seen here as a potential bridge from the reductionistic to the holistic approach. It shows some promise for achieving holism, but falls short.

Description: Presented at May 1985 Spring Meeting. This session discussed: How investment policy should be developed, Role of the actuary and the investment officer, Role of the pricing actuary and the valuation actuary, Liquidity considerations, Tax considerations, Capital loss constraints, Process for changing strategy as the economy and company circumstances change.

Description: Full version of The Financial Reporter, Issue No. 68, March 2007.

Description: The purpose of this paper is to outline a framework that measures 'decision' and to argue that such a measure is the rightful focus of the enterprise. The paper develops the principle of maximizing expected utility as a normative decision theory from its philosophical roots in order to motivate its proper usage i.e., to the enterprise's ultimate good. From 2006 Enterprise Risk Management Symposium, M-AS06-1.

Description: The abstract for the paper Value and Actuation.

Description: Abstract for the 2008 ERM Monograph paper, “Instantiating Holism: Beyond ERM’s Half Measures”.