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: 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.

Description: A summary of the driving forces behind, and effects of, the historical increases and future expectations of Generic Dispensing Rates.

Description: Introduces the new behavioral finance subgroup and talks about why such a subgroup is needed.

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 describes seven results from behavioral finance that actuaries may find useful: heuristics, the endowment effect, loss aversion, prospect theory, satisficing, strategic thinking and agent-based modeling.

Description: A review of the academic article "Health Insurance for ‘Humans’: Information Frictions, Plan Choice, and Consumer Welfare."

Description: The author describes two papers that find that stock returns in the 15 days around the new moon are double the stock returns in the 15 days around the full moon. Is this true, even though psychological studies have established no causal link?

Description: Invites readers to submit topics on the theme of "This Time It's Different. Members will then be invited to submit essays for and against.