There is a wide cross-country variation in the institutional structure of bank failure resolution, including the role of the deposit insurer. We use quantitative analysis for 57 countries and discussion of specific country cases to illustrate this variation. Using data for over 1,700 banks across 57 countries, we show that banks in countries where the deposit insurer has the responsibility of i...

Conventional therapeutic agents have displayed significant shortcomings. For this reason, important achievements have effectively made in biotechnology for delivering the therapeutic agents to the site of action, and diminish side effects. Polymeric carriers, micelles, dendrimers, liposomes, solid lipid carriers, gold carriers, viral carriers, nanotubes and magnetic carriers incorporating cytot...

The text of this paper is based on a presentation at the First International Congress of Maritime, Tropical, and Hyperbaric Medicine, 4th July 2009, Gdynia, Poland. The assessment of fitness to work at sea is an important aspect of maritime risk management. The risks in the industry, the approaches used for assessment, and the evidence on which they are based have changed over time. The transit...

Choosing the best hospitals or avoiding the worst hospitals is important to patients, physicians, and insurers. There is a wealth of publicly reported quality data to use in making those choices, but that data is presented in ways that may conceal important information. We develop three models of how individuals might use the available data in choosing a hospital and present a model that relies...

In this article, we show, in the context of partial hedging, that some important relationships about comonotonicity and convex order cannot be translated to countermonotonicity in general because of the possibility of over-hedging. We propose a new notion, called proper hedge, that can effectively avoid over-hedging. Different characterizations of a proper hedge are given, and we show that this...