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This paper investigates the impact of Social Discount Rate (SDR) choice on intergenerational equity issues caused by Public-Private Partnerships (PPPs) projects. Indeed, more PPPs mean more debt being accumulated for future generations…
The Research Excellence Framework (REF) is a periodic UK-wide assessment of the quality of published research in universities. The most recent REF was in 2014, and the next will be in 2021. The published results of REF2014 include a…
The aim of this paper is to model the length of registration at university and its associated academic outcome for undergraduate students at the Pontificia Universidad Cat\'olica de Chile. Survival time is defined as the time until the end…
Seed fundraising for ventures often takes place by sequentially approaching potential contributors, who make observable decisions. The fundraising succeeds when a target number of investments is reached. Though resembling classic…
Enrollment projection is a critical aspect of university management, guiding decisions related to resource allocation and revenue forecasting. However, despite its importance, there remains a lack of transparency regarding the methodologies…
The System Usability Scale (SUS) is a short, survey-based approach used to determine the usability of a system from an end user perspective once a prototype is available for assessment. Individual scores are gathered using a 10-question…
The 2023 U.S. banking crisis propagated not through direct financial linkages but through a high-frequency, information-based contagion channel. This paper moves beyond exploration analysis to test the "too-similar-to-fail" hypothesis,…
The use of Wikipedia citations in scholarly research has been the topic of much inquiry over the past decade. A cross-publisher study (Taylor & Francis and University of Michigan Press) convened by Digital Science was established in late…
We investigate models of the life annuity insurance when the company invests its reserve into a risky asset with price following a geometric Brownian motion. Our main result is an exact asymptotic of the ruin probabilities for the case of…
We show that the mutual fund theorems of Merton (1971) extend to the problem of optimal investment to minimize the probability of lifetime ruin. We obtain two such theorems by considering a financial market both with and without a riskless…
We introduce a novel class of credit risk models in which the drift of the survival process of a firm is a linear function of the factors. The prices of defaultable bonds and credit default swaps (CDS) are linear-rational in the factors.…
Why do firms produce scientific research and make it available to the public, including their rivals? Prior literature has emphasized the tension between imitation risks from disclosure and scientists' preferences for publication. This…
We propose a new framework to value employee stock options (ESOs) that captures multiple exercises of different quantities over time. We also model the ESO holder's job termination risk and incorporate its impact on the payoffs of both…
This paper presents a comparison of two methods for the forward uncertainty quantification (UQ) of complex industrial problems. Specifically, the performance of Multi-Index Stochastic Collocation (MISC) and adaptive multi-fidelity…
This paper introduces a rule for policy selection in the presence of estimation uncertainty, explicitly accounting for estimation risk. The rule belongs to the class of risk-aware rules on the efficient decision frontier, characterized as…
We introduce a new survey of professors at roughly 150 of the most research-intensive institutions of higher education in the US. We document seven new features of how research-active professors are compensated, how they spend their time,…
The instability of the financial system as experienced in recent years and in previous periods is often linked to credit defaults, i.e., to the failure of obligors to make promised payments. Given the large number of credit contracts, this…
Implementing large-scale information and communication technology (IT) projects carries large risks and easily might disrupt operations, waste taxpayers' money, and create negative publicity. Because of the high risks it is important that…
In this paper we analyze the resilience of a network of banks to joint price fluctuations of the external assets in which they have shared exposures, and evaluate the worst-case effects of the possible default contagion. Indeed, when the…
As Large Language Models (LLMs) evolve from chatbots to agentic assistants, they are increasingly observed to exhibit risky behaviors when subjected to survival pressure, such as the threat of being shut down. While multiple cases have…