appreciated by most men. In the business world, risk, when adroitly judged, can lead to significant rewards. By contrast, most men tend to be somewhat risk averse, not only financially, but also more importantly in terms of approaching their health. Attitudes between the sexes vary, as does their willingness to seek medical help and advice. Women tend to seek help earlier and are much more like...

In this paper, we argue that a distinction exists between risk measures and decision principles. Though both are functionals assigning a real number to a random variable, we think there is a hierarchy between the two concepts. Risk measures operate on the first “level”, quantifying the risk in the situation under consideration, while decision principles operate on the second “level”, often bein...

Using the industrial organization approach to the microeconomics of banking we model a large (Monti-Klein) bank which is risk neutral and faces credit uncertainty in its loan business. The impact of capital adequacy regulation and the effect of changes in risk on deposit and loan rates are analyzed. We then show that capital adequacy regulation induces the bank to behave as if it were risk aver...

We discuss a number of quantile-based risk measures (QBRMs) that have recently been developed in the financial risk and actuarial/insurance literatures. The measures considered include the Value-at-Risk (VaR), coherent risk measures, spectral risk measures, and distortion risk measures. We discuss and compare the properties of these different measures, and point out that the VaR is seriously fl...

We discuss a number of quantile-based risk measures (QBRMs) that have recently been developed in the financial risk and actuarial/insurance literatures. The measures considered include the Value-at-Risk (VaR), coherent risk measures, spectral risk measures, and distortion risk measures. We discuss and compare the properties of these different measures, and point out that the VaR is seriously fl...

A method is presented for identifying an expected profitable set of customers, to offer them an additional insurance product, by estimating a customer specific latent risk profile, for the additional product, by using the customer specific available data for an existing insurance product of the specific customer. For the purpose, a multivariate credibility estimator is considered and we investi...

We show that there can be significant difference between risk preferences of individual investors and aggregate preferences toward risk in the economy. To demonstrate this, we investigate aggregate properties of an economy where all investors have convex utility functions corresponding to risk seeking behavior. In the case of risk seeking individual agents with identical initial endowments, ass...

2 This paper draws on lessons from a UK case study in the management of diffuse microbial pollution from grassland farm systems in the Taw catchment, south west England. We report on the development and preliminary testing of a field-scale faecal indicator organism risk indexing tool (FIORIT). This tool aims to prioritise those fields most vulnerable in terms of their risk of contributing FIOs ...

Decision-making under risk assessment involves dealing with the matter of uncertainty, especially in projects such as tunnel construction. Risk control should include not only measures to reduce the possible consequence of incident, but also exploration measures (information collecting measures) to reduce the uncertainty of the incident. The classical risk assessment model in engineering is R =...