In this paper we give an academic assessment of the financial crisis (crises) from our point of view and discuss where quantitative risk management went wrong. We formulate four mathematical theorems/research areas which have relevance for financial crises in general where the underlying theme is model uncertainty. Related to these theorems, key issues that will be discussed are: financial alch...

Financial ratios provide useful quantitative financial information about company performance. Most of the economical, industrial, financial or political decision problems are multi-criteria. The application of multi criteria decision making methods significantly improves the robustness of financial analysis and business decisions in general. In this study, based on six wellknown financial perfo...

A reliable and valid assessment is necessary for the effective delivery of services to those with mental retardation (MR). With constraints placed on financial and human resources, assessment must be comprehensive, yet cost-effective. We describe a method of assessment that operates within these constraints using informant-based measures that assess adaptive and maladaptive behavior, psychiatri...

Management and organizational factors have contributed, directly or indirectly, to many tanker accidents. These factors are frequently not considered in human reliability analysis, probabilistic risk assessment or accident investigations. In order to successfully incorporate effective and efficient measures to prevent accidents, a systematic approach including all important root causes and vari...

Current research on financial risk management applications of econometrics centers on the accurate assessment of individual market and credit risks with relatively little theoretical or applied econometric research on other types of risk, aggregation risk, data incompleteness, and optimal risk control. We argue that consideration of the model risk arising from crude aggregation rules and inadeq...

BACKGROUND All health care systems face the need to find the resources to meet new demands such as a new, cost-increasing health technology. In England and Wales, when a health technology is recommended by the National Institute for Health and Care Excellence (NICE), the National Health Service (NHS) is mandated to provide the funding to accommodate it within three months of publication of the ...

Introduction Economic integration and cooperation in Asia has traditionally been more market-driven and institution-lite. The Asian Financial Crisis (AFC) in 1997/98 and the Great Recession in 2008 changed that. As the number of Free Trade Agreement (FTA) in Asia increases, intraregional trade has intensified and it continues to grow. In the financial side, the cross-border holding of financial...

Objective: To develop accurate preoperative risk prediction models for multiple adverse postoperative outcomes applicable to a broad surgical population using a parsimonious common set of risk variables and outcomes. Summary Background Data: Currently, preoperative assessment of surgical risk is largely based on subjective clinician experience. We propose a paradigm shift from the current posto...