Women are underrepresented in academia in general and economics in particular. I introduce a test to detect an under-researched form of hiring bias: implicit quotas. I derive a test under the null hypothesis of gender-blind hiring that requires no additional information about individual hires...

Usage of Monte Carlo simulation for pricing requires a well defined and accurate market implied distribution of risk factors. Overlay, on top of these simulated risk factors, one can also generate conditional prices based on the set of underlying risk factors at future time horizons. The ability...

Asymmetric information is an important phenomenon in insurance markets, but the empirical evidence on the extent of adverse selection and moral hazard is mixed. Because of its implications for pricing, contract design, and regulation, it is crucial to test for asymmetric information in specific...

Testing for asymmetric informations has become very important in recent years in order to test theoretical predictions and to outline new directions for research. In this paper we analyse accident insurance, which has not been analysed before in the literature, but covers one of the most...

In economics and other social sciences, complex processes are often represented by numerical models of reality which more or less well reflect behavioral relationships and interactions. Such attempts are the subject of a lecture course "Mathematical Theory of Democracy" by the author at the...

This paper questions traditional approaches for testing the day-of-the-week effect on stock returns. We propose an alternative approach based on the closure test principle introduced by Marcus, Peritz and Gabriel (1976), which has become very popular in Biometrics and Medical Statistics. We test...