Insurance markets have changed radically and deeply in the past 20 years. Deregulation, globalization of insurance institutions, intensified competition, electronic commerce, bank assurance and the emergence of new risks are among the challenges faced by insurance markets. This is forcing the...

We describe a methodology for making counterfactual predictions when the information held by strategic agents is a latent parameter. The analyst observes behavior which is rationalized by a Bayesian model in which agents maximize expected utility, given partial and differential information...

This paper proposes and demonstrates a methodology for modeling correlated systemic solvency and liquidity risks for a banking system. Using a forward looking simulation of many risk factors applied to detailed balance sheets for a 10 bank stylized United States banking system, we analyze...