acts of god and man ruminations on risk and insurance columbia business school publishing

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Acts Of God And Man

Author : Michael Powers
ISBN : 9780231153676
Genre : Business & Economics
File Size : 68. 16 MB
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Much has been written about the ups and downs of financial markets, from the lure of prosperity to the despair of crises. Yet a more fundamental and pernicious source of uncertainty exists in today's world: the traditional “insurance” risks of earthquakes, storms, terrorist attacks, and other disasters. Insightfully exploring these "acts of God and man," Michael R. Powers guides readers through the methods available for identifying and measuring such risks, financing their consequences, and forecasting their future behavior within the limits of science. A distinctive characteristic of earthquakes, hurricanes, bombings, and other insurance risks is that they impact the values of stocks, bonds, commodities, and other market-based financial products, while remaining largely unaffected by or “aloof” from the behavior of markets. Quantifying such risks given limited data is difficult yet crucial for achieving the financing objectives of insurance. Powers begins with a discussion of how risk impacts our lives, health, and possessions and proceeds to introduce the statistical techniques necessary for analyzing these uncertainties. He then considers the experience of risk from the perspectives of both policyholders and insurance companies, and compares their respective responses. The risks inherent in the private insurance industry lead naturally to a discussion of the government's role as both market regulator and potential "insurer of last resort." Following a thoughtful and balanced analysis of these issues, Powers concludes with an interdisciplinary investigation into the nature of uncertainty, incorporating ideas from physics, philosophy, and game theory to assess science's limitations in predicting the ramifications of risk.

Contemporary Financial Intermediation

Author : Stuart I. Greenbaum
ISBN : 9780124059283
Genre : Business & Economics
File Size : 61. 63 MB
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In Contemporary Financial Intermediation, Third Edition, Greenbaum, Thakor and Boot offer a distinctive approach to financial markets and institutions, presenting an integrated portrait that puts information at the core. Instead of simply naming and describing markets, regulations, and institutions as competing books do, the authors explore the endless subtlety and plasticity of financial institutions and credit markets. This edition has six new chapters and increased, enhanced pedagogical supplements. The book is ideal for anyone working in the financial sector, presenting professionals with a comprehensive understanding of the reasons why markets, institutions, and regulators act as they do. Readers will find an unmatched, thorough discussion of the world's financial markets and how they function. Provides a distinctive and thought-provoking approach to the world's financial markets Explores the endless subtleties and plasticity of financial institutions and credit markets Newly revised, with six new chapters and increased pedagogical supplements Presents anyone working in the financial markets and sector with a comprehensive understanding of the inner workings of world markets

Ravioli Rules

Author : Alfred Manganiello
ISBN : 0988753200
Genre :
File Size : 30. 59 MB
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If you ever thought there was a parallel between food and management, you are right. The making of the Ravioli and its presentation is filled with management theories and practices. All types of leaders and managers can learn about effective management from Ravioli Rules. This book takes a new twist on management principles using the Ravioli making business as the teacher. In this whimsical and witty parable, Alfredo and Mario, now grandfathers, tell their two grandaughters, Abigail and Theresa, a story of their first Ravioli experience. For Alfredo and Mario it is deja vu. They are watching as their two little grandaughters are experiencing a Ravioli event almost identical to an event they had when they were the same age. For Alfredo and Mario, this event early in their lives catapulted them into a life altering and learning experience. Alfredo and Mario decide to share, with their grandaughters, the lessons learned from their experience. In this lifetime journey, Alfredo and Mario tell Abigail and Theresa a story of when and how the Ravioli first came into their lives. How the first denial of the Ravioli leads them to create a strategy to make sure they were not denied the Ravioli again. How the negative experience leads to their life altering decision to make their own Ravioli. As they journey through the discovery of the Ravioli, they even have to overcome obstacles from relatives who would not share the Ravioli recipe with them. When they finally make their first Ravioli they begin a period of reflection and action that leads to learning and sharing, culminating in their greatest lesson - a lifetime of Ravioli making experience. From a humble beginning, they made family sized Ravioli dishes evolving into a small catering business and eventually into a full production Ravioli operation. As a result of this Ravioli making experience, Alfredo and Mario have created a series of lessons called Ravioli Rules, which they are sharing with their grandaughters over their lifetime. Through their experiences they have created simple, entertaining and clear explanations on how to make Ravioli and manage the Ravioli makers. The two grandaughters, when they are mature, thank their grandfathers with the greatest Ravioli gift ever. You will never look at management and making Ravioli the same way ever again! Buon Appetito!

Moral Mazes

Author : Robert Jackall
ISBN : 9780199729883
Genre : Business & Economics
File Size : 63. 8 MB
Format : PDF
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This classic study of ethics in business presents an eye-opening account of how corporate managers think the world works, and how big organizations shape moral consciousness. Robert Jackall takes the reader inside a topsy-turvy world where hard work does not necessarily lead to success, but sharp talk, self-promotion, powerful patrons, and sheer luck might. What sort of everyday rules-in-use do people play by when there are no fixed standards to explain why some succeed and others fail? In the words of one corporate manager, those rules boil down to this maxim: "What is right in the corporation is what the guy above you wants from you. That's what morality is in the corporation." This brilliant, disturbing, funny look at the ethos of the corporate world presents compelling real life stories of the men and women charged with running the businesses of America. This anniversary edition includes an afterword by the author linking the themes of Moral Mazes to the financial tsunami that engulfed the world economy in 2008.

The Handbook Of Negotiation And Culture

Author : Michele J. Gelfand
ISBN : 9780804745864
Genre : Business & Economics
File Size : 35. 44 MB
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In the global marketplace, negotiation frequently takes place across cultural boundaries, yet negotiation theory has traditionally been grounded in Western culture. This book, which provides an in-depth review of the field of negotiation theory, expands current thinking to include cross-cultural perspectives. The contents of the book reflect the diversity of negotiation—research-negotiator cognition, motivation, emotion, communication, power and disputing, intergroup relationships, third parties, justice, technology, and social dilemmas—and provides new insight into negotiation theory, questioning assumptions, expanding constructs, and identifying limits not apparent from working exclusively within one culture. The book is organized in three sections and pairs chapters on negotiation theory with chapters on culture. The first part emphasizes psychological processes—cognition, motivation, and emotion. Part II examines the negotiation process. The third part emphasizes the social context of negotiation. A final chapter synthesizes the main themes of the book to illustrate how scholars and practitioners can capitalize on the synergy between culture and negotiation research.

The Economics And Politics Of Choice No Fault Insurance

Author : Edward L. Jr. Lascher
ISBN : 0792374673
Genre : Business & Economics
File Size : 73. 84 MB
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In recent years, choice no-fault has emerged as a popular but controversial proposal for addressing the problem of high automobile insurance rates. Choice plans offer consumers the option of a lower-cost insurance policy with restrictions on filing lawsuits or a higher-cost policy with full tort rights. Some American states have implemented choice programs, and major federal choice legislation is now pending in the United States Congress. Choice no-fault has caught the attention of policy makers, the insurance industry, and academics. Until now, however, no single book has pulled together the available research on the topic. The Economics and Politics of Choice No-Fault Insurance fills that gap. Edited by scholars from different disciplines, each of whom has written extensively on automobile insurance issues, the book includes some of the best work in the area. Former Massachusetts Governor and presidential candidate Michael S. Dukakis wrote the foreword. Contributors include University of Virginia Law Professor Jeffrey O'Connell, widely considered the `father of no-fault,' as well as authors of the influential RAND study of the potential effects of choice no-fault on insurance rates. The book chapters, most of which were written especially for this volume, cover topics ranging from the impact of choice no-fault on accidents and driving behavior, to the effects of choice on medical care usage, to alternative approaches for resolving accidents involving both `no-fault' and `tort' electors, to the political feasibility of choice legislative proposals. Emphasis on the potential advantages of choice no-fault is balanced by consideration of possible ill effects.

The Infatuations

Author : Javier Marias
ISBN : 9780307960733
Genre : Fiction
File Size : 61. 1 MB
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A New York Times Book Review Notable Book, NPR Great Reads, and Onion A.V. Club Best Book of 2013 Each day before work María Dolz stops at the same café. There she finds herself drawn to a couple who is also there every morning. Observing their seemingly perfect life helps her escape the listlessness of her own. But when the man is brutally murdered and María approaches the widow to offer her condolences, what began as mere observation turns into an increasingly complicated entanglement. Invited into the widow's home, she meets--and falls in love with--a man who sheds disturbing new light on the crime. As María recounts this story, we are given a murder mystery brilliantly encased in a metaphysical enquiry, a novel that grapples with questions of love and death, chance and coincidence, and above all, with the slippery essence of the truth and how it is told. This ebook edition includes a reading group guide.

The Man Who Saved New York

Author : Seymour P. Lachman
ISBN : 9781438434544
Genre : Biography & Autobiography
File Size : 55. 77 MB
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The Man Who Saved New York offers a portrait of one of New York’s most remarkable governors, Hugh L. Carey, with emphasis on his leadership during the fiscal crisis of 1975. In this dramatic and colorful account, Seymour P. Lachman and Robert Polner’s examine Carey’s youth, military service, and public career against the backdrop of a changing, challenged, and recession-battered city, state, and nation. It was Carey’s leadership, Lachman and Polner argue, that helped rescue the city and state from the brink of financial and social ruin. While TV comedians mocked and tabloids shrieked about the Big Apple’s rising muggings, its deteriorating public services, and the threats and walkouts by embattled police, firefighters, and teachers, all amid a brutal recession, Carey and his team managed to hold on and ultimately prevailed, narrowly preventing a huge disruption to the state, national, and global economy. At one point, the city came within a few hours of having to declare itself incapable of paying its debts and obligations, but in the end stability and consensus prevailed, and America’s largest city stayed out of bankruptcy court. The center held. Based on extensive interviews with Carey and his family, as well as numerous friends, observers, and former advisors, including Steven Berger, David Burke, John Dyson, Peter Goldmark, Judah Gribetz, Richard Ravitch, and Felix Rohatyn, The Man Who Saved New York aims to place Carey and his achievements at the center of the financial maelstrom that met his arrival in Albany. While others were willing to let the city go into default, Carey was strongly opposed, since it would not only affect the state as a whole but would have reverberations both nationally and internationally. In recounting the 1975 rescue of New York City and the aftershocks that nearly sank the state government, Lachman and Polner illuminate the often-volatile interplay among elite New York bankers, hard-nosed municipal union leaders, the press, and influential conservatives and liberals from City Hall to the Albany statehouse to the White House. Although often underappreciated by the public, it was Carey’s force of will, wit, intellect, judgment, and experiences that allowed the state to survive this unparalleled ordeal and ultimately to emerge on a stronger footing. Further, Lachman and Polner argue, Carey’s accomplishment is worth recalling as a prime example of how governments—local, state, and federal—can work to avoid the renewed the threat of bankruptcy that now confronts many overstretched states and localities.

Evil Media

Author : Matthew Fuller
ISBN : 9780262304405
Genre : Social Science
File Size : 41. 69 MB
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Evil Media develops a philosophy of media power that extends the concept of media beyond its tried and trusted use in the games of meaning, symbolism, and truth. It addresses the gray zones in which media exist as corporate work systems, algorithms and data structures, twenty-first century self-improvement manuals, and pharmaceutical techniques. Evil Media invites the reader to explore and understand the abstract infrastructure of the present day. From search engines to flirting strategies, from the value of institutional stupidity to the malicious minutiae of databases, this book shows how the devil is in the details. The title takes the imperative "Don't be evil" and asks, what would be done any differently in contemporary computational and networked media were that maxim reversed.Media here are about much more and much less than symbols, stories, information, or communication: media do things. They incite and provoke, twist and bend, leak and manage. In a series of provocative stratagems designed to be used, Evil Media sets its reader an ethical challenge: either remain a transparent intermediary in the networks and chains of communicative power or become oneself an active, transformative medium.

Lecturing Birds On Flying

Author : Pablo Triana
ISBN : 9780470501030
Genre : Business & Economics
File Size : 65. 32 MB
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Praise for Lecturing Birds On Flying "Finally, a book taking a critical look at quantitative finance models, illuminating both their flawed fantasy assumptions as well as the uncritical use of such models on Wall Street, in many cases, leading to billion dollar losses. Pablo Triana knows both the financial industry and the academic community from the inside. A must-read for anyone interested in finance." —Dr. Espen Gaarder Haug, trader, thinker, and author of Derivatives Models on Models "A thoroughly readable explanation of the problems that have beset the models and quantitative techniques that have underpinned so much of finance in recent years. If only the bankers had heeded this message a few years before, we might not be in such a big mess today." —Gillian Tett, Assistant Editor of the Financial Times, overseeing global financial markets coverage, and author of Fool's Gold "Pablo Triana dismembers quantitative finance, in theory and in practice, with expertise, anger,and an excellent eye for the illuminating anecdote. By the time he has finished marshalling his evidence, his call to replace complex equations with something more like common sense sounds like, well, common sense." —Edward Hadas, Assistant Editor at Breakingviews.com; and author of Human Goods, Economic Evils: A Moral Approach to the Dismal Science "Pablo Triana is an entertaining and engaging writer, even on the dry subject of finance theory. His debunking of conventional wisdom is a treat." —Pauline Skypala, Editor, FTfm, Financial Times "Triana's book is an unrelenting fusillade of detailed and irrefutable arguments against financial theorems and those who teach them. It should, by rights, spark a revolution in both investment banks and business schools. But, at the very least, it is required reading for anyone who would regulate the finance industry." —Felix Salmon, Finance Blogger, Reuters

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