We study indifference pricing of mortality contingent claims in a fully stochastic model. We assume both stochastic interest rates and stochastic hazard rates governing the population mortality. In this setting we compute the indifference price charged by an insurer that uses exponential utility and sells k contingent claims to k independent but homogeneous individuals. Throughout we focus on t...

Chronic rheumatic joint disease is the greatest single cause of disability in temperate climates and is said to produce more pensionable invalidism than any other condition except cardiovascular disease in old age. It is therefore unfortunate that chronic arthritis, which is so formidable a scourge in this country, should, until recent years, have been relegated to the list of uninteresting and...

In the theory of preferences underlying utility theory i t is generally assumed that the indifference relation is transitive, and this leads t o equivalence classes of indifferent elements or, equally, t o indifference curves. It has been pointed out that this assumption is contrary to experience and that utility is not perfectly discriminable, as such a theory necessitates. In this paper intra...

Delay discounting refers to a decline in the value of a reward when it is delayed relative to when it is immediately available. Delay discounting tasks are used to identify indifference points, which reflect equal preference for two dichotomous reward alternatives differing in both delay and magnitude. Indifference points are key to assessing the shape of a delay-discounting gradient because th...

Humans discount the value of future rewards following a hyperbolic function and thus may prefer a smaller immediate reward over a larger delayed reward. Marked interindividual differences in the steepness of this discounting function can be observed which can be quantified by the parameter k of the discount function. Here, we asked how differences in delay discounting behaviour are reflected by...

The classical interpretation of probability together with the Principle of Indifference are formulated in terms of probability measure spaces in which the probability is given by the Haar measure. A notion called Labeling Irrelevance is defined in the category of Haar probability spaces, it is shown that Labeling Irrelevance is violated and Bertrand’s Paradox is interpreted as the very proof of...

Software applications on mobile devices offer a variety of services and have become an integral part of people’s life in the 21 st century. Apps, as they are popularly referred to, are the interactive platform of choice that enhances the service experience of many brands due to their ubiquitous, location-aware and personalized nature. In spite of their popularity and obvious utility, users beco...

since the staffing are the most important and valuable assets in organization, and achieving organizational goals depends on the commitment and expertise of its human capital, the identification and analysis of issues that impede the flourishing of this valuable asset and led them to be indifference; has a special importance. the aim of this study was analysis of the effect of job characteristi...

Dichotomous choice (or Referendum) contingent valuation surveys have become the predominate choice for valuing goods and services otherwise not valued in a standard market (nonmarket goods and services). A number of researchers have recently recommended that dichotomous choice contingent valuation studies include a follow-up question to all no responses to determine whether the no response is a...