Artemisinin combination therapy is being widely advocated as a first line treatment for malarial in Sub-Saharan Africa and other parts of the world where traditional chloroquine therapies are no longer effective. Various bilateral and multilateral donors assist countries in procurement of...

This paper analyses the role that scientific experts and, more in general, scientific expertise play within European risk governance. While the first part of the paper looks at the way in which scientific expertise is integrated in the decision-making process, the second part examines how...

S. Kusuoka [K 01, Theorem 4] gave an interesting dual characterization of law invariant coherent risk measures, satisfying the Fatou property. The latter property was introduced by F. Delbaen [D 02]. In the present note we extend Kusuoka's characterization in two directions, the first one being...

This paper reports on two studies examining the relationship between escalation of commitment and three risk-related variables - risk propensity, risk perception, and outcome expectancy. Results showed that (a) risk propensity and outcome expectancy were positively related to escalation of...

This contribution relates to the use of risk measures for determining (re)insurers' economic capital requirements. Alternative sets of properties of risk measures are discussed. Furthermore, methods for constructing risk measures via indifference arguments, representation results and...

Tsanakas and Barnett (2002) employed concepts from cooperative game theory (Aumann and Shapley, 1974) for the allocation of risk capital to portfolios of pooled liabilities, when distortion risk measures (Wang et al., 1997) are used. In this paper we generalise previously obtained results in...

A distortion-type risk measure is constructed, which evaluates the risk of any uncertain position in the context of a portfolio that contains that position and a fixed background risk. The risk measure can also be used to assess the performance of individual risks within a portfolio, allowing...

The theory and practice of risk measurement provides a point of intersection between risk management, economic theories of choice under risk, financial economics and actuarial pricing theory. This paper provides a review of these interrelationships, from the perspective of an insurance company...