PPT-Understanding Behavioral Economics to be Better Actuaries

Brian Hartman PhD ASA Source These examples come from a great recent book Thinking Fast and Slow by Daniel Kahneman 2 Alan and Ben Half the class will please close their eyes 3 Alan and Ben. SEE THE WORLD. . 2. WHAT IS AN . ACTUARY?. 3. PART SUPER-HERO. PART FORTUNE-TELLER. . PART TRUSTED ADVISOR.. ACTUARIES ARE EXPERTS IN:. Evaluating the likelihood of future events—using numbers, not crystal balls.. 1. Behavioral Economics. The model of economic behavior we have considered . in this course is . restrictive in a number of ways. Economic agents are assumed to be perfectly rational. Agents are assumed to perfectly understand risk and uncertainty. Anand S. Rao. September 23. rd. , 2008. For more information contact:. Anand S. Rao. Partner. Anand.Rao@diamondconsultants.com. Mobile: 617.633.8354. Agenda. What is Behavioral Economics (BE)?. What is the relevance of BE in Health/Wealth Decisions?. William H. Brady, MD, MBA, MSc. Medical Director, Employee Health. Adjunct Faculty UNM, Texas A&M . HSc. , and Univ. Of Utah. Shar Haley, RN, . CRRN, CCM. , . SPHR; Manager. , Employee Health. Economics. Bay - An . Exploratory . Workshop. Presentation to the Citizens Advisory Committee. November 20, 2014. Planning Committee and Attendees. Planning Committee. Charlie Abdalla, Committee Chair, Penn . State University. Shogren. , J. F. and L. O. Taylor (. 2008. ).. About the authors . Jason . Shogren. . Stroock. . Professor of Natural Resource Conservation and Management, Economics & Finance, College of Business University of Wyoming. Herbert Gintis. Santa Fe . Institute. April 2015. Disarray of the Behavioral Sciences. The behavioral sciences (economics, sociology, anthropology, psychology, political science, biology) are in . profound disarray. Laibson. & List, 2015). Definition. Introduction to Behavioral Economics. www.EconEdLink.org . 2. System 1 – “operates automatically and quickly, with little or no effort and no sense of voluntary control.”. Application of economic theory to predict and control behavior. Microeconomics. Assumes law of supply and demand. Is an outgrowth of unidimensional explanations of reinforced behavior. Four Major Premises. Behavioral Economics and Development Chapter prepared for the Handbook of Behavioral Economics (Vol 2) Michael Kremer, Gautam Rao and Frank Schilbach Harvard University, MIT and NBER 1 2 Historical views of development: B H A - Organizations Fall 20 20 B achelor of Humanities and Arts (B H A) Dietrich College (DC) Concentration in Behavioral Economics, Policy & Organizations 81 units (minimum) Advisor: Lizzy Stoyle As new roles in enterprise risk management continue to grow, actuaries are becoming leaders in the practice, which takes a 360-degree view of an organization's risk profile. CERAs are trained Impact MajorAcademicAdvisorLizzy StoylePH 208GFaculty DirectorSaurabh BhargavaPH 319FWebsitehttp//coursecatalogwebcmuedu/dietrichcollegeofhumanitiesandsocialsciences/departmentofsocialanddecisionsciences/maj Insurance Industries. 28 October 2017. Max Life Insurance. 2. Overview. Max Life Insurance. 3. Who is an actuary?. Max Life Insurance. 4. What others think actuaries do?. What my friends think I do. What my mom thinks I do.