The main aim of this book is to introduce the ideas of the neo-Austrian school of economics and to compare these ideas with the more familiar methods of conventional or orthodox economics. Many well-known introductory textbooks meant for the use of prospective accountants or business studies graduates, whose main interest is not in economics, typically make great use of graphical diagrams of eq…
Would you rather live in a world without blood transfusions or a world without maritime insurance? Blood transfusions are dramatic and memorable (which is why we see them on prime-time hospital shows), while the facilitation of commerce through risk sharing is routine and easily taken for granted. But I'd be willing to bet that by almost any measure, three centuries of organized insurance marke…
One clearly evident dimension is research. Certain authors introduce quite new intellectual approaches into scientific debate. This requires a special frame of mind and a searching curiosity about social reality. Carl Gustav Jung identified a phenomenon which he called systematic blindness: when a science reaches a stage of maturity and equilibrium, it categorically refuses, from a sense of sel…
The starting point for any good discussion, meeting, or workshop on business model innovation should be a shared understanding of what a business model actually is. We need a business model concept that everybody understands: one that facilitates description and discussion. We need to start from the same point and talk about the same thing. The challenge is that the concept must be simpl…
This book deals with the notion of “risk” and is devoted to analysis of risks in finance and insurance. We will study risks associated with financial and insurance contracts, by which we understand risks to be uncertainties that may result in financial loss and affect the ability to make payments associ- ated with the corresponding contracts. Our approach to this analysis is based on the …
Yii is a very flexible and high-performance application development framework written in PHP. It helps building web applications, from small to large-scale enterprise applications. The framework name stands for Yes It Is (Yii). This is often the accurate and most concise response to inquiries from those new to Yii such as: Is it fast? Is it secure? Is it professional? Is it right for my next pr…
Yii is a very flexible and high-performance application development framework written in PHP. It helps building web applications, from small to large-scale enterprise applications. The framework name stands for Yes It Is (Yii). This is often the accurate and most concise response to inquiries from those new to Yii such as: Is it fast? Is it secure? Is it professional? Is it right for my next pr…
This chapter introduces the functions that are commonly used in finance and discusses their properties and applications. For instance, the exponential function is used to discount forward prices to their present value and the inverse of the exponential function, the natural logarithmic function or ‘log’ for short, is used to compute returns in continuous time. We shall encounter numerous ot…
For nearly a year New York City saw with wonder the spectacle of a few fearless radicals, organised into a vigilance committee of fifty, closing the doors of a custom-house, guarding the gates of an arsenal, embargoing vessels ladened with supplies for British troops, and removing cannon from the Battery, while an English fleet, well officered and manned, rode idly at anchor in New York harbour…
AFTER an unequivocal experience of the inefficacy of the subsisting federal government, you are called upon to deliberate on a new Constitution for the United States of America. The subject speaks its own importance; comprehending in its consequences nothing less than the existence of the UNION, the safety and welfare of the parts of which it is composed, the fate of an empire in many respects …
Alex’s clients include the U.S. Coast Guard (he helps keep its leadership training innovative and at the forefront of management practice) and a lengthy list of companies, government agencies, nonprofit boards, and more. He’s helped the U.S. Senate work on its collaborative problem-solving skills and brought new assessment tools to the finance department of the City of New York. His creativ…
Risk management has come a long way from its origins in engineering and health and safety. It is now used on a wide range of applications across a range of commercial, industrial and other forms of enterprise. More and more organisations are establishing and developing risk management facilities, both as an internal initiative and in response to statutory and regulatory external pressures. A…
There is no single authoritative and generally accepted definition of financial accounting, or of accounting in general. It began as a practical activity in response to perceived needs, and for most of its development it has progressed in the same way, adapting to meet changes in the demands made on it. Where the needs differed in different countries or environments, accounting tended to develo…
We provide an overview of the role of extreme value theory (EVT) in risk management (RM), as a method for modelling and measuring extreme risks. We concentrate on the peaks-over-threshold (POT) model and emphasize the generality of this approach. Wherever the tail of a loss distribution is of interest, whether for market, credit, operational or insurance risks, the POT method provides a sim…
This volume reports on discussions among multiple stakeholders about ways they might help transform health care in the United States. The U.S. healthcare system consists of a complex network of decentralized and loosely associated organizations, services, relationships, and participants. Each of the healthcare system’s component sectors—patients, healthcare profes- sionals, healthcare deliv…
Because of their potential to enable the development of new knowledge and to guide the development of best practices from the growing sum of individual clinical experiences, clinical data represent the resource most central to healthcare progress (Arrow et al., 2009; Detmer, 2003). Whether captured during product development activities such as clinical research trials and studies, or as a part …
The fundamental notion of the learning healthcare system—continuous improvement in effectiveness, efficiency, safety, and quality—is rooted in principles that medicine shares with engineering. In particular, the fields of systems engineering, industrial engineering, and operations research have long experience in the systematic design, analysis, and improvement of complex systems, notably i…
This is the second edition of our book that is designed as an introductory text in financial accounting. What sets it apart from dozens of other books with that basic aim is that this book is not set in any one national context. Consequently, instead of references to national laws, standards or practices, the main reference point is International Financial Reporting Standards (IFRS). Never…
There is no single authoritative and generally accepted definition of financial accounting, or of accounting in general. It began as a practical activity in response to perceived needs, and for most of its development it has progressed in the same way, adapting to meet changes in the demands made on it. Where the needs differed in different countries or environments, accounting tended to develo…
There is no single authoritative and generally accepted definition of financial accounting, or of accounting in general. It began as a practical activity in response to perceived needs, and for most of its development it has progressed in the same way, adapting to meet changes in the demands made on it. Where the needs differed in different countries or environments, accounting tended to develo…