Crowdfunding allows the public to fund creative projects, including curiosity-driven scientific research. Last Fall, I was part of a team that raised $25,460 from an international coalition of "micropatrons" for an open, pharmacological research project called Crowd4Discovery. The goal of Crowd4Discovery is to determine the precise location of amphetamines inside mouse brain cells, and we are s...

Abstract This article studies subjective job insecurity in Italy during the COVID-19 pandemic, which caused structural, economic and policy changes. It employs data drawn from “Extraordinary Survey on Italian Families 2020” released by Bank of 2021. The work estimates a zero one inflated beta model (ZOIB). main results show that (1) worsening household conditions is associated with an increase ...

It is well-known that pension fund participants can benefit from intergenerational risksharing, but that different generations have different incentives. This paper models intergenerational solidarity in closing funded pension plans as a bargaining process between generations. We consider generations which each are represented by members of the pension fund’s board. We model pension funds that ...

A multiperiod model is developed to measure the costs posed to the guaranty fund in a setting that incorporates risk-based capital regulations, interest rate risk and the possibility of catastrophic losses. The guaranty contract is modeled as a put option on the asset of the insurance company with a stochastic strike price and an uncertain maturity. The impacts of the key factors of this model ...

I solve in closed form for the optimal dynamic risk choice of a fund manager who is compensated with a high-water mark contract. The optimal risk choice depends on the ratio of the fund’s assets under management to its high-water mark. If the manager’s outside option value is low, investors’ termination policy is strict, or management fees are high, then negative returns induce the manager into...

Intuitively, we expect that averaging — or bagging — different regressors with low correlation should smooth their behavior and be somewhat similar to regularization. In this note we make this intuition precise. Using an almost classical definition of stability, we prove that a certain form of averaging provides generalization bounds with a rate of convergence of the same order as Tikhonov regu...