“Generalized Pareto Fit to the Society of Actuaries’ Large Claims Database,” Ana C. Cebrián,Michel Denuit,and Philippe Lambert,July 2003

Abstract

We consider the issue of modeling the latent or hidden exposure occurring through either incomplete data or an unobserved underlying risk factor. We use the celebrated expectationmaximization (EM) algorithm as a convenient tool in detecting latent (unobserved) risks in finite mixture models of claim severity and in problems where data imputation is needed. We provide examples of applicability of the methodology based on real-life auto injury claim data and compare, when possible, the accuracy of our methods with that of standard techniques. Sample data and an EM algorithm program are included to allow readers to experiment with the EM methodology themselves.     

Response Rate and Response Quality of Internet-Based Surveys: An Experimental Study

This study examines the effect of the timing of follow-ups, different incentives, length, and presentation of the questionnaire on the response rate and response quality in an online experimental setting. The results show that short questionnaires have a higher response rate, although long questionnaires still generate a surprisingly high response. Furthermore, vouchers seem to be the most effective incentive in long questionnaires, while lotteries are more efficient in short surveys. A follow-up study revealed that lotteries with small prizes, but a higher chance of winning are most effective in increasing the response rate. Enhancing questionnaires with visual elements, such as product images, lead to a higher response quality and generate interesting interaction effects with the length of the questionnaire and the incentives used. Finally, the timing of the follow-up has no significant influence on the response rate.     

The development of contract research organisations in Sweden: health care,privatisation and neo‐liberalism

This paper examines changes in local working conditions instigated by the development of contract research organisations in pharmaceutical development. These developments are seen as occurring in the context of Sweden's ‘circumscribed neoliberalization’. It is shown how staff remain ambivalent about the shifts of location and identity that these developments imply.     

Minimal belief change, Pareto-optimality and logical consequence

Summary. A rational agent changes her beliefs in response to new information; a widely held idea is that such belief changes should be minimal. This paper is an overview of the theory of minimal belief revision. I employ a decision-theoretic framework to compare various principles for minimal belief revision. The main topics covered include the AGM postulates for belief revision, belief contraction, Grove's representation theorem, axioms for conditionals, and the connections between minimal belief change and questions in formal logic. I characterize under what conditions belief revision functions are consistent with the Levi Identity, and under what conditions belief contraction functions are consistent with the Harper Identity. Received: August 20, 2000; revised version: March 19, 2001     

Familial control,size and performance in the largest French firms

This paper explores to what extent large French firms in the hands of wealthy families have performed in a significantly different manner from non-familial firms. The results of the econometric analysis confirms the Monsen Downs Williamson theory according to which only a combination of size and divergent goals could cause deviations from profit-maximization. Indeed, it is established that when ownership and management are not essentially separate, large size has a systematically better impact upon profitability than when such a divorce exists. Differences in financial structure viz leverage do not affect the result.     

Memory Effects of Different Relational Links between Brands and Sponsored Events

Sport sponsorship is an important marketing communication tool, and stakes in sponsorship deals are high. Therefore, sponsors strive to ensure that their investments are effective and protected from competitors—that is, ambusher marketers’ attacks. Still, little is known about how ambush marketing affects sponsor identification and misidentification of ambushers as sponsors. This study investigates levels of sponsor and ambusher identification in three experimental settings, controlling for the presence/absence of an ambusher, communication modality, and response formats. A field study in the context of a large sports event demonstrates the external validity of the findings. The results provide evidence of a nondestructive interference of ambush marketing, indicating that ambush marketing does not necessarily harm sponsor identification. Misidentification of nonsponsors as sponsors occurs because of the indirect link established between the event and the company through ambush marketing, but not as a consequence of other communication activities by a competitor with no link to the event. Finally, a combined sponsor–ambusher perspective indicates that sponsors do not necessarily have a consistent “official sponsor” advantage over ambushers. Findings are discussed with emphasis on implications for sponsors, ambushers, and marketing researchers.     

Consumer Intentions to Buy Front-of-Pack Nutrition Labeled Food Products: The Moderating Effects of Personality Differences

Although the current literature suggests that consumers in general have a desire to eat healthy and also like to obtain nutrition information about food products, there still exists a gap in terms of understanding how consumers utilize nutrition information. Drawing on consumer psychology literature, we examine how self-efficacy, healthy eating intentions, and perceptions about a simple front-of-pack nutrition label affect purchase intentions, and how these effects may be moderated by two information-processing-related personality traits—need for cognition and propensity to self-reference. We find that consumers’ intention to purchase front-of-pack nutrition-labeled products is positively affected by self-efficacy and label perceptions but is not directly driven by a general interest in healthy eating. We also find significant moderating effects from both personality traits considered.