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Triangle Principal Agent in Actuality

With the principal-agent model, the actuality of these situations are day-in and day-out situations, but often times the triangle agent model is one that is more factor based. One that sticks in my mind as a situation that I saw from afar was this summer while I was working for large corporation in Chicago. The group that I was with had a main manager, with her reporting to the department head. The group used to be co-managed before another department needed a manager. With the change of a single manager, the manager implemented unofficial teams to include senior members of the team as team leaders, helping her workload in terms of assisting the group. While everyone still reported to the main manager, they unofficially were under the leadership of the two senior group members. With these two senior members, while it was not an official triangle principal agent with direct reports, there was an unofficial triangle situation. I noticed this from the people on the team that I was w...

Team Production & Gift Exchange

In the first portion of this post, I will do a bit of reflection on the last week of class. Learning about the insurance model was very interesting to me as I have a connection to the insurance industry. Last summer, I interned at AIG, American International Group, one of the leading insurance carriers in the world. Within my internship, I worked in the executive liability group, which focused on the pricing on insurance for companies. Through this experience, I learned a significant amount regarding the insurance industry. I learned a lot about the factors that affect insurance pricing, a significant amount regarding the corporate industry, and a lot about organizations on the whole. Learning about the insurance model from an economic standpoint was very interesting to me as it put the pieces together in terms of connecting the dots from my summer. Being able to put it all together was something that really helped me to make sense of the model. -------------------------------------...

Managing Future Income Risk in the Present

As someone who categorizes themselves as relatively risk adverse, many of my past and current decisions have been made looking forward to the future. In this post, I think that my decisions would be best understood in the context of reducing income risk by grouping them into three categories: college, extra-curricular, and financial. The first category of decisions is those that deal directly with college. Thinking back to when I was deciding what school to go to, I had looked at different statistics in terms of post-graduation. I had looked at graduation rates as well as job placement, specifically with my initial program. I had come into college in the Actuarial Science program based on my love of and skills in math. The University of Illinois is an accredited university on the Center of Excellence list for actuaries, which is what employers look for when recruiting students. While I am not in the program anymore, I knew that overall the University of Illinois was highly ranked ...