Prof. Yaffa Machnes
CV
EDUCATION
1968 : M.Sc. in Economics ( Acturial Studies).The Hebrew University
1971 : European Research Workshop, Bergen, Norway
1974:Ph.D. Insurance and Risk Management. The Hebrew University
EMPLOYMENT
1974-1978 : Teaching Associate. Dep.of Economics,The Hebrew University.
1981, 1989: Consultant, The World Bank, Washington
1978-1996 : Senior Lecturer. Department of Economics. Bar-Ilan University
1997-2005: Professor and Associate Director. Graduate School of Business Administration.Bar- Ilan University.
2005-2010: Director Graduate School of Business Administration. Bar-Ilan University.
PUBLIC SERVICE
1980-1982: Member of the board-Gilad Pension Fund
1996-2003: External Director: Yosma Pension Fund. Migdal Insurance Holding Ltd.
2002-2003 : Real Estate Appraisers Committee. THe Ministry of Justice.
1996-present : Judge. Competition in Studies of Insurance. Tel-Aviv University
2000-2006:External Director. EMDA Funds' Management. Mizrahi Bank .
2001-2005 : Member of the University Proffessors' Union.
2006 Guest Editor, Health and Aging. The Geneva Association of Risk and Insurance.
2007-present Member: American Risk and Insurance Association.
2007-2008 Judge: Landau Prize in Management Sciences, “Mifal Hapais” (The Israel National Lottery).
2007-present Head and Committee Member: The Council for Higher Education. Evaluated six B.A. and M.A. programs in Management.
2008- present Judge, Ph.D dissertations from abroad. The Ministry of Education. (Nine dissertations).
2010 Examiner, new academic programs. The Council for Higher Education.
2010 Examiner research proposals submitted to The Israel National Institute for Health Policy and Health Services Research.
COURSES TAUGHT
Principles of Economics, Microeconomics, Econometrics, Finance, Health Economics, Insurance.
VISITING SCHOLAR
CEPREMAP, Paris, September 1980.
FUCAM, Mons, Belgium, March 1991.
CES, The University of Munich, Germany, April 1992.
ESSEC, Graduate School of Business, Cergy, France, 1993.
California State University DH. 1996-1997
Research
Research Fields
- WORKING PAPERS
1. Saving and Insurance
2. The Demand of Pharmaceuticals
3. Longevity Risk
4. Quality and Inequality in Dental Care
Research Projects
- 1. The Provision of Dental Care. Funded by The National Institute of Health Policy.
2. Longevity Risk. International Research Forum.
Publications
Journals
- 1. "A Limit Theorem on Competitive Equilibrium of an Economy Under Uncertainty," International Economic Review, June 1975, pp. 336-344.
- 2. "A Limit Theorem on the Core of an Economy with Individual Risks," The Review of Economic Studies, June 1978, pp. 267-271.
- 3. "An Economic Model of Mental Hospitals," Empirical Economics, December 1979, pp. 293-301.
- 4. "Consumption of Private Health Services by Households with Full Coverage of Health Insurance," Public Health 94, 1980, pp. 89-94.
- 5. "Indexed and Non Indexed Insurance," The Geneva Papers on Risk and Insurance, Vol. 7, No. 24, July 1982, pp. 264-275.
- 6. "The Off-Farm Labor Supply of Farmers: The Case of Chiang-Mai Valley: Thailand," Economic Development and Cultural Change, July 1990, Vol. 38, pp. 683-698, (with S. Cochrane).
- 7. "Health and the Allocation of Public Expenditures," Health Policy, 1990, Vol. 16, pp. 27-31.
8. "The Demand for Work Loss Days Due to Illness," Journal of Economic Behavior and Organization, July 1992, Vol. 18, No. 2, pp. 283-286.
- 9. "National Insurance and Inequality," Research on Economic Inequality, JAI Press, 1992, Vol. 2, pp. 139-149.
- 10. "The Value Added Approach to the Prohibition of Work on the Sabbath," Research in the History of Economic Thought and Methodology, JAI Press, 1992, Vol. 2, pp. 59-63.
11. "Risk and the Collective Farm in Transition," in The Cooperative Experience in Agriculture: International Comparisons, edited by Csaba Csaki and Yoav Kislev, Westview Press, (with A. Schnytzer), 1993, pp. 161-172.
- 12. "Production Decisions in the Presence of Options," International Review of Economics and Finance, 1993, Vol. 1, pp. 341-345.
- 13. "Further Results on Comparative Statics Under Uncertainty," European Journal of Political Economy, 1993, Vol. 9, pp. 141-146.
- 14. "Production Decisions in Case of Monotone Likelihood Ratio Shifts of Cumulative Distribution Functions," Insurance: Mathematics and Economics, 1993, Vol. 13, pp. 299-302.
- 15. "The Role of Wealth in the Demand for International Air Travel," Journal of Transport Economics and Policy, May 1994, pp.163-173.(with G. Alperovich).
- 16. "Immunization and the Optimal Structure of the Balance Sheet," Advances in Stochastic Modelling and Data Analysis, Kluwer Academic Publishers, 1995.
- 17. "Insurance and Decision Taking," Economics Letters, 1995, Vol. 48, pp. 139-144.
18. "Incentives and Production of Mental Health Services," The European Journal of Political Economy, 1996, Vol.12. pp. 459-466.
- 19. "The Demand for Car Ownership", International Journal of Transport Economics, October 1999, Vol. 26 .pp 353-375 (with G. Alperovich and J. Deutsch).
- 20. "Changes in Mortality Rates: Gender and International Comparisons" Applied Economics. 2003 Vol. 35 pp. 285-291.
- 21. "Stochastic Dominance of Pension Plans” Metroeconomica. February 2003, Vol. 54 pp.49-59.
- 22. “A Note on Deductible Insurance and Production” With Kit Pong Wong. Geneva Papers on Risk and Insurance: Theory: 2003, 28:pp. 73-80.
- 23. "Immunization under Yaari's Dual Theory" Finance Letters, 2004,2 (5) pp. 24-28.
- 24. “Insurance and Decision Taking in Yaari's Dual Theory”. Risk Letters, September 2005.
- 25. The Trading Volume of Currency Options and the Spot Exchange Rate Emerging Markets Finance & Trade. May-June 2006 vol 42(3) 91-97.
- 26."The Demand for Private Health Care Under National Health Insurance: The Case of the Self-Employed" European Journal of Health Economics, December 2006. Vol 7(4), pp. 265-269.
- 27. "Information Imbedded in the Trading Volume of Currency Options" Derivatives Use, Trading & Regulation Palgrave, Macmillan (2006) 12, 244-249
- 28. "Term Life Insurance for the Elderly in the State of New York: The Rise and Fall of Regulations 149" Health and Aging. The Geneva Association. Guest Editorial. 2-4. October 2006.
- 29. “Returns to Scale in Israeli Insurance Companies” The Economic Quarterly, 55.01, March 2008: pp 95-113. (with E. Chaba , in Hebrew).
- 30. "The Provision of Oral Care by Local Government Authorities in Israel: Policy Issues and Empirical Evidence", Health Policy, Vol. 89/1 1, January 2009 pp. 107-114 (with A. Carmeli).
- 30. “Weak Signaling of Voluntary Bond Ratings”” The European Business Review, 2010, Vol. 22(2): pp. 222-231.
- 31. "An Examination of Life Insurance, Risk Attitude", forthcoming in Frontiers in Finance and Economics.
Books
- 1. "Optimal Allocations of Risk Bearing in a Market with an Infinite Number of Traders" in Allocations under Uncertainty, edited by Jacques Dreze, pp. 89 98, Macmillan, 1974.
- 2. "Optimal Allocation of Health Expenditures" in Book of Abstracts, Second World Congress on Health Economics, University of Zurich, 1990, p. 85.
- 3. "Adapting Infants' Growth Curves to Gestational Age" Abstracts, March 1991, Netherland Institute of Primary Health Care, Utrecht.
- 4. "Infants Growth Curves" in Health Systems - The Challenge of Change, edited by M.K. Chytil, G. Durue, W. van Eimeren, and Ch. D. Flagli, OMNIPRESS, Prague, June 1992, pp. 1075-1076.
- 5. "Risk Reduction and Production" in European Meeting of the Econometric Society, Universite Libre de Bruxelles, 1992, p.86.
- 6. "Mental Health Services," in Changes in Health Care Systems, European Conference CREDES, Paris, 1992.
- 7. "Risk and the Collective Farm in Transition" in The Cooperative Experience in Agriculture: International Comparisons, edited by Csaba Csaki and Yoav Kislev, Westview Press, (with A. Schnytzer), 1993, pp. 161-172.
- 8. "Immunization and the Optimal Structure of the Balance Sheet" Advances in Stochastic Modeling and Data Analysis, Kluwer Academic Publishers, 1995.
- 9. “Efficiency and Inequality in Dental Care” Proceedings of a conference, Ten Years to National Health Insurance1995-2005, Editors: G. Ofer G. and G. Bin-Nun, Tel-Aviv (in Hebrew) 2006.pp.291-300.
Also in Dental Care Systems, Editors: J. Mann and R. Fisher, Opal Publishers.
- 10. “The Internationalisation of Insurance in Israel” Proceedings of Selected Papers of the 6-th International Conference in Applied Financial Economics. July 2009. Research and Training Institute .Editors: K. Kioulafas and C. Prachalias, Greece. pp. 416-421.
- 11. “The Demand for Pharmaceuticals”, Health Policy, 4-th Jerusalem Conference Book. Editor: S. Shortel, Forthcoming.
- 12. “The Strategy of Managed Care Health funds”, Proceedings of the 6-th International Strategic Management Conference, St. Petersburg, July 2010.
Conferences
- 1. "National Insurance and Inequality," European Meeting of the Econometric Society, Helsinki, August 1976.
- 2. "A Limit Theorem of the Core of an Economy Under Uncertainty," European Meeting of the Econometric Society, Vienna, September 1977.
- 3. "Dynamic System for Unemployment Insurance," CISM (Centre International des Sciences Mecaniques), Udine, Italy, September 1977.
- 4. "The Insurance Market Under Inflation," World Congress of the Econometric Society, Aix-en-Provence, September 1980.
- 5. "Guest Workers in Economies with Unemployment Insurance," International Economists Association Sixth World Congress, Mexico, August 1980.
- 6. "Payments to Private Doctors in an Economy with Public Medicine," First World Congress on Health Economics, Leiden, September 1980.
- 7. "Unemployment Insurance in Israel," The Israel Economic Association, Jerusalem, February 1986.
- 8. "More on Immunization and the Optimal Maturity Structure of the Balance Sheet," The Conference on The Law and Economics of Insurance, Lund, August 1989.
- 9. "Public Health Expenditures," The Annual Meeting of the European Public Choice Society, Konstanz, April 1990.
- 10. "Allocation of Public Health Expenditures," Second World Congress on Health Economics, Zurich, September 1990.
- 11. "Further Results on Comparative Statics under Uncertainty," The 18th Seminar of the European Group of Risk and Insurance Economists, Mons, Belgium, September 1991.
- 12. "Guest Workers and Unemployment Insurance," The 32nd Atlantic Economic Conference, Washington, DC, October 1991.
- 13. "Risk Reduction and Production," European Meeting of the Econometric Society, Brussels, September 1992.
- 14. "Mental Health Services," in Changes in Health Care Systems, European Conference CREDES, Paris, 1992.
15. "Risk Aversion and Insurance Under Yaari's Dual Theory," The Israel Economic Association, December 1995.
- 16. "The Political Economy of Pension Reform," Conference of the European Public Choice Society, Tiberias, March 1996.
- 17 "Insurance and Decision-Taking in Yaari's Dual Theory," The European Meeting of the Econometric Society, Istanbul, August, 1996.
- 18. "Optimal Reform of the Pension Plan," The Israeli Economic Association Meeting, Jerusalem. May 1998.
- 19. "The Impact of the Transition on Wage Determination in Slovenia": Institutions in Transition, Bled, Slovenia, September 1998. (With A. Schnytzer).
- 20. "Globalization of Capital Markets, " EIBA, 24th Annual conference, Jerusalem, December 1998, (with M. Ungar).
21. "Increasing Life Expectancy and Reforms in Pension plans"8th Symposium on Finance, Banking and Insurance. December 1999.
http://symposium.wiwi.uni-karlsruhe.de
- 22. “Inequality in Life Expectancy” The Israeli Economic Association Meeting, Jerusalem. May 2002.
- 23. "The Age that Turns Life Insurance into a Gamble" The Israeli Statistical Association Meeting. Ben- Gurion University. May 2003
- 24. "Private Health Insurance by Israeli Self Emplyed" Health Policy 4-th Conference. Tel-Aviv. December 2003.
- 25. "Inequality in Dental Care" Health Policy Conference.Tel-Aviv. March 2005.
- 26. "The Trading Volume of Currency Options and the Spot Exchange Rate" The Israeli Economic Association Meeting, May 2005.
- 27. "The Demand for Privete Health Care Under National Health Insurance: The Case of the Self-Employed" Health Systems, The 3-rd International Jerusalem Conference on Health Policy, December 2006.
- 28. “The Provision of Oral Care by Local Government Authorities in Israel” Israel Economic Association Meeting, (with A. Carmeli) June 2008.
- 29. “The Internationalisation of Insurance in Israel” International Conference in Applied Financial Economics, Samos, Greece. 2-4 July 2009.
- 30. “Managing Insurance Instability in Israel" Managing financial instability in capitalistic economies, Reykjavik. Iceland, 3-5 September 2009.
- 31. “The Demand for Pharmaceuticals by the Israeli Managed Care Organizations” The 4th International Jerusalem Conference on Health Policy, Jerusalem, 7-10 December 2009.
- 32. “Pension in Israel” Israel Economic Association Meeting, Maale Hachmisha, 2-nd June 2010.
- 33. “Pharmaceuticals Use by Managed Care Health Funds” 9th Annual International Conference on Health Economics, Management and Policy, 28-30 June 2010, Athens, Greece.
- 34. “The Strategy of Managed Care Health Funds” 6th International Strategic Management Conference, St. Petersburg Russia, 8-10 July 2010.
- 35. “Market versus Self Insurance of Longevity Risk” 6-th International Longevity Risk and Capital Markets Solutions Conference, 9-10 September 2010, Bondi Beach, Australia.
- 36. “Market versus Self Insurance of Longevity Risk” The International Research Forum Conference. Hong Kong, 15-17 December, 2010.
Media
Awards
The Berliner Prize for Studies in Insurance, 1988.
Last Updated Date : 11/10/2023