For longevity bond pricing, the most popular methods contain the risk-neutral method, the Wang transform and the Sharpe ratio rule. This paper studies robustness of these three methods and investigates connections and differences among them through theoretic analysis and numerical illustrations....

The Chinese life-insurance industry has experienced major structural changes in recent years, primarily because of increasing demand and the entry of foreign insurers. Although the market is clearly booming, the efficiency of its growth and development is unclear. In this paper, we evaluate the...

Though there is ample empirical evidence demonstrating the relationship between objective financial literacy and retirement planning, we have limited understanding on the role of subjective financial literacy and financial literacy confidence level in individual's retirement planning. In this...

China's Urban and Rural Residents' Basic Medical Insurance (URRBMI) system recently was formed to integrate two prior-existing government health insurance programs for low income citizens: the New Cooperative Medical Scheme (for rural residents) and the Urban Residents' Basic Medical Insurance...

Though ample empirical evidence demonstrates the relationship between objective financial literacy and retirement planning, we have a limited understanding of the role of individuals' subjective financial literacy in their retirement planning. In this study, we examine how individuals' financial...

We study heat conduction through one-dimensional homogeneous lattices in the presence of the anharmonic nearest-neighbor interaction without an on-site potential. We observe the occurrence of negative differential thermal resistance (NDTR); i.e., there exists a region of temperature difference...