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Michael R. Powers(包迈高)

金融系    苏黎世保险集团讲席教授

金融系 教授

电话:(86)(10)62795565

办公室:伟伦楼386 C

邮箱:powers@sem.tsinghua.edu.cn

教育经历

1987 美国哈佛大学统计学博士

1982 美国耶鲁大学统计学硕士,应用数学学士(本硕连读四年学制)


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工作经历

Powers教授曾就职于天普大学福克斯商学院,担任风险管理与保险学教授。在此之前,他是宾夕法尼洲的保险副委员,负责设计了宾夕法尼当前的选择型无过失汽车保险制度。

从2014年起担任清华大学经济管理学院金融系教授,苏黎世保险集团经济与管理学院讲座教授,施瓦茨曼学院教授。


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讲授课程


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研究领域

金融监管和公共政策风险与保险中的博弈论企业风险管理中的数学模型风险转移的税务处理文化态度与风险融资


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学术成果

Books and Monographs

Acts of God and Man: Ruminations on Risk and Insurance, 2012, New York: Columbia University Press.

Icons (science-fiction/fantasy novel), 2003, San Francisco: Dry Bones Press.

Global Risk Management: Financial, Operational, and Insurance Strategies, 2002 (with J. Jay Choi, eds.), Amsterdam: JAI Press/Elsevier.

The Economics and Politics of Choice No-Fault Insurance, 2001 (with Edward L. Lascher, Jr., eds.), Boston: Kluwer Academic Publishers.

Selected Journal Articles


“Insurance Risk, Risk Measures, and Capital Allocation: Navigating a Copernican Shift,” 2013 (with George Zanjani), Annual Review of Financial Economics, 5, 201-223.

“Fourier-Analytic Measures for Heavy-Tailed Insurance Losses,” 2013 (with Thomas Y. Powers), Scandinavian Actuarial Journal, forthcoming.

“The Relationship between Regulatory Pressure and Insurer Risk Taking,” 2013 (with Wen-chang Lin and Yi-hsun Lai), Journal of Risk and Insurance, forthcoming.

“Risk Finance for Catastrophe Losses with Pareto-Calibrated Lévy-Stable Severities,” 2012 (with Thomas Y. Powers and Siwei Gao), Risk Analysis, 32, 11, 1967-1977.

“The Valuation of Contingent Capital with Catastrophe Risks,” 2009 (with Shih-Kuei Lin and Chia-Chien Chang), Insurance: Mathematics and Economics, 45, 1, 65-73.

“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, 43-63.

“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, 1-16.

“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, 505-510.

“Social Stability and Catastrophe Risk: Lessons from the Stag Hunt,” 2008 (with Zhan Shen), Journal of Theoretical Politics, 20, 4, 477-497.

“Using Aumann-Shapley Values to Allocate Insurance Risk: The Case of Inhomogeneous Losses,” 2007, North American Actuarial Journal, 11, 3, 113-127.

“Market Bubbles and Wasteful Avoidance: Tax and Regulatory Constraints on Short Sales,” 2004 (with David M. Schizer and Martin Shubik), Tax Law Review, 57, 2, 233-274.

“September 11 Victims, Random Events, and the Ethics of Compensation,” 2004 (with Edward L. Lascher, Jr.), American Behavioral Scientist, 48, 3, 281-294.

“Of Happy and Hapless Regulators: The Asymptotics of Ruin,” 2003 (with Emilio C. Venezian and Iana B. Jucá), Insurance: Mathematics and Economics, 32, 2, 317-330.

“Toward a Theory of Reinsurance and Retrocession,” 2001 (with Martin Shubik), Insurance: Mathematics and Economics, 29, 2, 271-290.

“Risk Transformations, Deductibles, and Policy Limits,” 2001 (with Larry Y. Tzeng), Journal of Risk and Insurance, 68, 3, 465-473.

“Insurance Market Games: Scale Effects and Public Policy,” 1998 (with Martin Shubik and Shun Tian Yao), Zeitschrift für Nationalökonomie (Journal of Economics), 67, 2, 109-134.

“Insurance Premium Taxes: A Lump-Sum Proposal,” 1998 (with Larry Y. Tzeng), Public Finance Review, 26, 1, 53-66.

“On the Tradeoff between the Law of Large Numbers and Oligopoly in Insurance,” 1998 (with Martin Shubik), Insurance: Mathematics and Economics, 23, 2, 141-156.

“Captive Insurance Tax Policy: Resolving a Global Problem,” 1995 (with M. Moshe Porat), Geneva Papers on Risk and Insurance: Issues and Practice, 20, 75, 197-229.

“A Theory of Risk, Return, and Solvency,” 1995, Insurance: Mathematics and Economics, 17, 2, 101-118.

“The Value of Information in Insurance Pricing: Comment,” 1994, Journal of Risk and Insurance, 61, 3, 519-524.

“Equity in Automobile Insurance: Optional No-Fault,” 1992, Journal of Risk and Insurance, 59, 2, 203-220.


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业界经历



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所获荣誉

2013年,Powers教授凭借新书《上帝与人类的行为:对风险与保险的反思》(Acts of God and Man: Ruminations on Risk and Insurance)荣获“库尔普赖特图书奖”(The Kulp-Wright Book Award)。他还是三部学术专著的合著者——《中国金融的政治经济》(The Political Economy of Chinese Finance);《全球风险管理:金融、运营、和保险策略》(Global Risk Management: Financial, Operational, and Insurance Strategies);和《选择型无过失保险的经济学与政治学原理》(The Economics and Politics of Choice No-Fault Insurance)。 同时,他也是科幻小说《图标》(Icons)的作者。


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