Why was risk management not effective in preventing financial institutions from bubbles in the past? 1. Because the emerge of the bubbles were not recognized at all. 2. Because risk managers did not have sufficient authority to stop the nonsense....

This paper considers a traditional problem of resource allocation: scheduling jobs on machines. One such recent application is cloud computing, where jobs arrive in an online fashion with capacity requirements and need to be immediately scheduled on physical machines in data centers. It is often...

We present an approach to capture group-level diversification using legally binding capital and risk transfer instruments. The approach is used by the Swiss Solvency Test to quantify both group-level capital requirements and capital requirements for subsidiaries of insurance groups. The Geneva...