We model the asset allocation decision of a defined benefit pension fund in the UK using a stochastic dynamic programming approach. Our model recognizes the fact that asset allocation decisions are made by trustees who are mandated to act in the best interests of beneficiaries not by sponsoring employers and that trustees face payoffs that are linked in an indirect way to the value of the under...

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The National University of Health Sciences celebrated its 110th year in 2016. This article is an edited transcription of the presentation made by Dr Kenneth J. Dougherty, Chair of the Board of Trustees, at the National University of Health Sciences Homecoming reception on June 18, 2016, in Lombard, IL.

A group of leading doctors has called for a raft public health measures to support India as the country struggles cope with huge surge in covid-19 cases and deaths. In an open letter published The BMJ , trustees South Asian Health Foundation call ban mass gatherings, impose strict lockdowns, consider postponing upcoming election try bring down numbers infections, hospital admissions, deaths. ...

Trust models are specific knowledge structures designed to gather, hold and share agent’s knowledge about the reliability of its partners: the trustees. These models are updated by observations generated upon direct interaction with the trustees and by receiving the observations or opinions from other agents. The existing trust models are built on the assumption of recurrent and similar interac...