Michael R. Powers

Michael R. Powers

Ph.D., Professor of Risk and Insurance Mathematics, Chair of Department of Finance, School of Economics and Management, Tsinghua University, China.

Education:  

  • 1987 - Ph.D. in Statistics, Harvard University. Concentration in Strategic Decision Making and Negotiation. 
  • 1982 - B.S. in Applied Mathematics, M.A. in Statistics, Yale University, four-year B.S./M.A. program. 

Recent employment: 

  • 2011-present - Professor of Risk and Insurance Mathematics, School of Economics and Management, Tsinghua University, Beijing, China. Research Interests: Government Regulation and Public Policy, Game Theory in Risk and Insurance, Mathematical Models in Enterprise Risk Management, Tax Treatment of Risk Transfers. 
  • 2002-present - Professor of Risk and Insurance (on leave, 2011-2013), Fox School of Business and Management, Temple University, Philadelphia, PA. 
  • 2008-2010 - Distinguished Visiting Professor of Finance, School of Economics and Management, Tsinghua University, Beijing, China. 
  • 2005 (summer) - Visiting Professor of Finance, School of Economics and Management, Tsinghua University, Beijing, China. 

Selected publications:

1. “Insurance Risk, Risk Measures, and Capital Allocation,” 2013 (with George Zanjani), Annual Review of Financial Economics, 5, forthcoming.
2. “The Relationship between Regulatory Pressure and Insurer Risk Taking,” 2013 (with Wen-Chang Lin and Yi-Hsun Lai), Journal of Risk and Insurance, forthcoming.
3. “Risk Finance for Catastrophe Losses with Pareto-Calibrated Levy-Stable Severities”, 2012 (with Thomas Y. Powers and Siwei Gao), Risk Analysis, 32 (11), pp. 1967-1977.
4. “Financing Aloof Risks: No Silver Bullet or Sacred Cow,” 2012, European Financial Review, June/July, pp. 78-80.
5. “Aloof Risks and Bayesian Beliefs: Toward a Science of Risk”, 2012, European Financial Review, April/May, pp. 85-88.
6. “A Risk-Based Risk Finance Paradigm”, 2012 (with Siwei Gao and Zaneta A. Chapman), Journal of Financial Transformation, 35, pp. 173-178.
7. “The Valuation of Contingent Capital with Catastrophe Risks”, 2009 (with Shih-Kuei Lin and Chia-Chien Chang), Insurance: Mathematics and Economics, 45 (1), pp. 65-73.
8. “Life Insurance Efficiency in China: A Comparison of Foreign and Domestic Firms”, 2009 (with Bingzheng Chen and Joseph Qiu), China and World Economy, 17 (6), pp. 43-63.
9. “Colonel Blotto in the War on Terror: Implications for Event Frequency,” 2009 (with Zhan Shen), Journal of Homeland Security and Emergency Management, 6, 1, 18, pp. 1-16.
10. “Adverse Selection or Advantageous Selection? Risk and Underwriting in China’s Health Insurance Market,” 2009 (with Feng Gao and Jun Wang), Insurance: Mathematics and Economics, 44 (3), pp. 505-510.

Honors and awards: 

  • China’s Qian Ren Ji Hua Award (2011). 
  • Emerald Publications Leading Editor Award (2009). 
  • Temple University Research Study Leave (1997, 2007). 
  • Musser Award for Excellence in Research, Fox School (2006). 
  • Fox School Outstanding Research Awards (1999, 2000, 2003). 
  • International Insurance Society Shin Research Excellence Award (1999). 
  • Risk and Insurance Management Society Research Award (1994). 
  • Journal of Risk and Insurance Award for Best Feature Article (1993). 
  • Harvard University Graduate Fellowships (1982-1984). 
  • Phi Beta Kappa, Junior year, Yale University (1981). 
  • Yale Scholarship Trust of Boston Awards (1979-1981). 
  • Benjamin F. Barge Prize in Mathematics, Yale University (1979). 
 
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