In this communication, we develop suitable valuation techniques for a with-profit/unitized with profit life insurance policy providing interest rate guarantees, when a jump-diffusion process for the evolution of the underlying reference portfolio is used. Particular attention is given to the mispricing generated by the misspecification of a jumpdiffusion process for the underlying asset as a pu...

BACKGROUND Research demonstrates that individuals in substance abuse treatment are more likely to die from tobacco addiction than from their primary addiction, yet historically substance abuse treatment has not included treatment for tobacco addiction. The purpose of our study was to (1) review the diffusion of state policies mandating the provision of tobacco cessation treatment as a condition...

This chapter addresses the question: Can a holistic model of ICT adoption and diffusion improve ICT policy formulation? This question is answered by illustrating that in a globalised economy the existing models of ICT adoption are inadequate in explaining the process of adoption and diffusion, and that a human-environmental model can address this gap by explaining the duality of this process. T...

International Digital Divide is an imbalance state of ICT penetration between countries. This paper analyzes the current status and trends of international digital divide, adopts Gompertz technology diffusion model to verify the determinants of ICT penetration level and diffusion rate separately. Finally, China should use “policy levers” to strengthen international trade cooperation, improve th...

Formulation of effective sustainability indicators for national assessment demands a comprehensive understanding of the utilisation, diffusion and dissemination of information in policy processes. To illustrate the dynamic of sustainability assessment within the context of policy processes, this paper uses a case study of national sustainability indicators development in Malaysia. Subsequently,...

A central issue of globalisation research is the question whether globalisation leads to the convergence of policies or whether domestic responses to global challenges remain strongly influenced by existing domestic structures. In the field of environmental policy, there is some analysis of the diffusion of policy innovations, but there is a lack of systematic knowledge as to whether this leads...

This paper discusses the position of the European Union in the world economy by focussing on innovation, knowledge creation and technology policy. First, we explore and analyse the concept of knowledge and its application in a modern Schumpeterian framework. Second, we address some new insights in the diffusion and other properties of knowledge. Third, we focus on knowledge spillovers by invest...

A segmented markets model is constructed with payments systems credit and a rich array of monetary policy instruments. Goods market segmentation plays an important role, in addition to the role played by conventional segmentation of asset markets. The diffusion of a money injection by the central bank depends on the interaction of agents in exchanging money for goods, and on the arrangements fo...

In urban transportation networks, crime diffuses as criminals travel through the networks and look for illicit opportunities. It is important to first model this diffusion in order to recommend actions or patrol policies to control the diffusion of such crime. Previously, game theory has been used for such patrol policy recommendations, but these applications of game theory for security have no...

A recent empirical literature has arisen documenting the response of one nation’s policy choices, including tax, environmental, and labour policies, to those of others. This has been largely interpreted as evidence of competition, be it for mobile resources (like FDI, taxable book income, etc.) or yardstick. We present a third explanation based on learning. When countries’ tax choices reflect p...