Randall Munroe, over at xkcd, does some really funny cartoons, and is a physicist by training. Every week he answers a hypothetical question: this week it’s How much of the Earth’s currently-existing water has ever been turned into a soft drink at some point in its history? His answer, by the way, is “not much”. […] Read more
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Antonio Fatas has some interesting things to say about the reliance of economic models on implausible assumptions. All models rely on assumptions and economic models are known (and made fun of) for relying on very strong assumptions about rationality, perfect information,… Many of these assumptions are unrealistic but they are justified as a way to […] Read more
At the recent GIRO conference, Rob Curtis from the FSA drew our attention to the recent consultation paper: CP06/16: Prudential changes for insurers. The part that made me prick up my ears was the following: The written record of a firm’s individual capital assessment, as carried out in accordance with Sub-Principle 1 submitted by the […] Read more