We propose a linear bi-objective optimization approach to the problem of finding a portfolio that maximizes average excess return with respect to a benchmark index while minimizing underperformance over a learning period. We establish some theoretical results linking classical No Arbitrage...

The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich even more relevant to investors and bankers that want to...

Integrated health care is one of the major issues in German health care policy at this moment. This is due to recent changes in social security law, which now allows for direct contracts between providers and statutory health insurances. The changes were enacted in January 2004 and thus far over...

This paper surveys the decision-theoretic foundations of health care production and derives policy implications. The priority at the beginning of the 21st century must be to accelerate the diffusion of new medical knowledge, a public good, so that the efficiency in the adoption of new technology...

Healthcare financing and insurance is changing everywhere. We want to understand the impact that financial pressures can have for the uninsured in advanced economies. To do so we focus on analyzing the effect of the introduction in the US of managed care and the big rise in financial pressures...

Managed care substantially transformed the U.S. healthcare sector in the last two decades of the twentieth century, injecting price competition among hospitals for the first time in history. However, total HMO enrollment has declined since 2000. This study addresses whether managed care and...

Similar to, for example, the US, Switzerland or Great Britain the German health care sector has recently undergone a series of reforms towards managed care. These measures are intended to yield both a higher quality of care and cost containment. In our study we ask whether managed care reduces...

This study evaluated the Medicaid Managed Care Program, an initiative launched by the Robert Wood Johnson Foundation in 1995 to promote the delivery of high-quality health services for low-income people and those with special health care needs. The overview assesses the perspectives of states,...