In this paper we extend the Least Squares Monte Carlo approach proposed by Longstaff and Schwartz for the valuation of American-style contingentclaims to the case of life insurance contracts. These contracts, in fact, often embed an American-style option, called surrender option, that entitles its owner to early terminate the contract and receive a cash amount, called surrender value. The addit...

We optimize the asset allocation, consumption and bequest decisions of an investor with uncertain lifetime and under time-varying investment opportunities. The asset menu is given by stocks, zero coupon bonds and pure endowments with different maturities. The latter are contingent on either a single or a joint life, and pay fixed or variable benefits. We further include transaction costs on sto...

The aim of the current article was to examine the meaning of suffering in drug addiction and in the recovery process. Negative emotions may cause primary suffering that can drive an individual toward substance abuse. At the same time, drugs only provide temporary relief, and over time, the pathological effects of the addiction worsen causing secondary suffering, which is a motivation for treatm...

In the practice of voluntary surrender system in China, especially cases residual surrender, will be apparently invalid if suspect brought to justice mistakenly thinks his or her behavior constitutes a crime due wrong legal understanding and then confesses it, while such is only an infringement act interest accordance with objective elements crime. It can also concluded that special are not app...

There has been considerable interest in boosting and bagging, including the combination of the adaptive techniques of AdaBoost with the random selection with replacement techniques of Bagging. At the same time there has been a revisiting of the way we evaluate, with chance-corrected measures like Kappa, Informedness, Correlation or ROC AUC being advocated. This leads to the question of whether ...