Description: This panel discussion session focused on the practical applications of risk theory.

Description: The author notes the decline in the study of compound interest and the effect of computers on the subject.

Description: This session reviews the past half century's advances in finance such as immunization and hedging theory, modern portfolio theory, capital asset pricing model, option-pricing theory, term structure of interest rate models, and so on. Their application to asset and liability management in insurance and pensions is highlighted and discussed.

Description: The purpose of this paper is to perform conjugate Bayesian analysis on the negative binomial distribution with the goal of providing a standard by which approximate credibility formulas and approximate predictive distriubtion may be judged. From Actuarial Research Clearing House 1993, VOL. 1.

Description: This paper discusses the Bayesian graduation method of Kimeldorf and Jones and develops methods for managing four technical problems in their method. It also includes a discussion of the paper. From Transactions of Society of Actuaries 1977, Vol. 29.

Description: Concomitant with the industrial revolution, the function of providing old age income shifted from families and local institutions to government social security and private pension plans. The history of this change in the U.K. and U.S. is reviewed. A simple mathematical model provides insights into the role played by three rates [the rate of increase of the working population, the time preference rate, and the rate of real wage growth] in determining optimum funding policy. From Actuarial Research Clearing House 1994, Vol. 2.

Description: This provides a basic example of a mathematical model which may be used to build an investment portfolio which will minimize the risk of interest rate fluctuations.

Description: This article poses the question, why doesn't the teaching of life contingencies start with the premise that the rate of investment income is a random process in a similar manner to the random nature of the time until death? The article suggests some methods for doing so.

Description: Study of the Pareto distribution and its affect on life contingencies. Includes examples of the mortality model, actuarial present values, and whole life premiums.

Description: The Actuarial Education and Research Fund is charged by its parents, the five North American actuarial organizations, with promoting useful research on actuarial topics. A list of projects as of the end of 1981. From The Actuary VOL. 16, No. 6