Assets, liabilities and risks

R. Thomson


Financial economists and actuaries do not always talk the same language. One particular difference of concern to actuaries is the method of treatment (or non-treatment) of the liabilities of an investor in the portfolio selection problem. Another difference relates to the way in which liabilities are valued. In this paper, these differences are discussed and possible way forward are suggested.

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ISSN 2224-0004 (online); ISSN 0259-191X (print)

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