Still on the theme of Olympics [奧運] this week, and another philosophical topic for all of you guys to think about. Have you ever noticed that some bronze medallists are …
Blog 48: Equity VS Equality by Xavier Lo, FIA, FRM, MBA
Has everyone been following the Olympic games [奧運會]? Sometimes you can tell which sport [運動] some athlete [運動員] plays just by their body shape. This got me thinking about Equity [公平] versus Equality …
Blog 47: Positional Goods by Xavier Lo, FIA, FRM, MBA
Remember the blog recently on the diamond and water paradox? Somewhat related to that is Positional Goods [位置性產品], which is the topic of today. Usually when you think about how …
Blog 46: Exam Tips – part 1 by Xavier Lo, FIA, FRM, MBA
No theory this week! It’s the Summer [夏天] now, and a lot of students may be using these last few weeks to really study as hard as they can before …
Blog 45: Samaritan’s Dilemma by Xavier Lo, FIA, FRM, MBA
Everyone’s probably heard of the Good Samaritan [撒瑪利亞人]. However, think about the person on the receiving end. If that person keeps on getting help and knows that help will always …
Blog 44: Diamond and Water Paradox by Xavier Lo, FIA, FRM, MBA
Have you ever thought about how certain things are priced [定價] in your everyday life? Could it be linked to the amount of value [價值] that it brings to you? …
Blog 43: Simpson’s Paradox by Xavier Lo, FIA, FRM, MBA
A bit more technical this week I’m afraid. We are looking at the Simpson’s Paradox [辛普森悖論]. Some of you may have encountered some examples of this in real life. The …
Blog 42: Overfitting by Xavier Lo, FIA, FRM, MBA
Correlation [相關性] and relationships between factors is always something we look for as actuaries. This allows us to predict future outcomes more easily. How do we determine these relationships? Just …
Blog 41: Correlation and Causation by Xavier Lo, FIA, FRM, MBA
I think most of you would have heard of correlation [相關性] versus causation [因果關係]. The idea here is that just because two things are correlated (in other words, when one …
Blog 40: Zero Sum Fallacy by Xavier Lo, FIA, FRM, MBA
Think about the last time you had a bet [賭注] with someone. Or maybe a time when you accidentally paid too much in a shop. In both cases, you can …
Blog 39: Conflict of Interest by Xavier Lo, FIA, FRM, MBA
Conflict of interest [利益衝突] is one of those concepts where if you truly understand and look out for it, even in every life, you start to understand what is going …
Blog 38: Adverse Selection by Xavier Lo, FIA, FRM, MBA
So last week we talked about moral hazard. This week’s topic is closely related, and is also very relevant to the insurance industry [保險界] (although probably useful in everyday life …
Blog 37: Moral Hazard by Xavier Lo, FIA, FRM, MBA
The topic of today is about moral hazard [道德風險] which is a very important concept in insurance. Lets talk about an experience I had. When you’re with your friends, have …
Blog 36: Dunning Kruger Effect by Xavier Lo, FIA, FRM, MBA
Over the journey of being an actuary, have you ever felt that the more you learnt, the less about the world you know? Have you ever met people who you …
Blog 35: Survivorship Bias by Xavier Lo, FIA, FRM, MBA
Back in World War 2 [第二次世界大戰], the military [軍隊] wanted to see how their war planes [戰機] could be made stronger. They analysed all the planes which returned from missions …