Description: This article discusses the different types of attitudes toward risk based on the prevailing economic climate.

Description: This article is a summary of the authors’ two other articles where they discuss pension systems and whether they do in fact distort retirement decisions.

Description: This paper focuses on when and how we retire.

Description: This article gives an overview and explanation of behavioral finance.

Description: From the 2010 Long Term Care Think Tank Session, a summary on the activities and findings of the Committee on Post-Retirement Needs and Risks, which focuses on understanding and mechanisms to assist in the distribution phase of retirement, by developing middle market consumer profiles, managing post-retirement risks, surveys and studies.

Description: This is a discussion about utility theory. From Transactions of Society of Actuaries 1969, Vol. 21 Pt. 2, No. 59

Description: The underlying premise of this paper is that enterprise risk management (ERM), as it continues to evolve as both a process and a collection of risk management techniques, can benefit from several different (but ultimately somewhat related) “megatrends.” The core of this paper concentrates on the impact on ERM of one of those megatrends: the emergence of a behavioral economics perspective, which is beginning to have a large impact on our understanding of the economy and on certain economic and business processes. The evolution and context of behavioral economics are described, and potential implications for the practice of ERM are discussed. The paper culminates with a variety of specific suggestions for ERM practice in response to findings from behavioral economics research, specifically a number of human cognitive dissonances inconsistent with traditional economic theory.

Description: Why should actuaries care about non-quantitative considerations? We are the masters of accurate calculations, and our models should be based solely upon logic … right? Wrong! The touchy-feely holistic, irrational factors encountered so often in the real world, can wreak havoc upon a model that considers only rational logic. Our 2016 presidential election was a dramatic wake-up call to statisticians and actuaries that numbers alone are not always the determining factors in economic outcomes. Learn why this is true, and how you can adapt your models to better represent the real world, and gain competitive advantage.

Description: Article On Making Ourselves Useful In Our Communities by Moorhead in The Actuary, June 1979, Volume 13, Number 6. Gasoline conservation.

Description: This article reviews environmental issues as discussed in The Doomsday Book by Thames and Hudson, London. From The Actuary, May 1971, Vol. 5, No. 5.