Research:
I have some widely varying research interests. I’m particularly interested in the valuation and exercise behavior of policyholder options embedded in insurance policies. I’m also interested in methods of eliciting the subjective belief distributions of individuals and applying those methods to risk management problems. Finally, I’m looking into retirement policy issues in the United States and other countries, particularly New Zealand.
My google scholar page is here:
https://scholar.google.com/citations?user=6CzoNbcAAAAJ&hl=en
and my researchgate profile is here:
https://www.researchgate.net/profile/Eric_Ulm2
PUBLICATIONS – REFEREED SCHOLARLY
1. “Analytic Valuation of GLWBs with a Modified Ratchet”, D. Harcourt, T. Daglish and E.R. Ulm, Insurance: Mathematics and Economics, 118, 59-71 (2024)
2. “Analytic Valuation of GMDB Options with Utility Based Asset Allocation”, E.R. Ulm, Scandinavian Actuarial Journal 22(9), 816-840 (2022)
3. “The Effect of Retirement Taxation Rules on the Value of Guaranteed Lifetime Withdrawal Benefits”, E.R. Ulm, Annals of Actuarial Science 14(1), 83-92 (2020)
4. “An Overview of Exact Solution Methods for Guaranteed Minimum Death Benefit Options in Variable Annuities”, E.R. Ulm in Proceedings of the Forum “Math-for-Industry” (2018) pp. 51-65. Springer, Singapore.
5. “Policyholder Exercise Behavior in Life Insurance: The State of Affairs”, D. Bauer, J. Gao, T. Moenig, E.R. Ulm and N. Zhu, North American Actuarial Journal 21(4), 485-501 (2017)
6. “On the Interaction Between Transfer Restrictions and Crediting Strategies in Guaranteed Funds”, E.R. Ulm, North American Actuarial Journal 21(3), 369-381 (2017)
7. “Scoring Rules for Subjective Probability Distributions”, G.W. Harrison, J. Martinez-Correa, J.T. Swarthout and E.R. Ulm, Journal of Economic Behavior and Organization 134, 430-448 (2017)
8. “Optimal Allocation and Consumption with Guaranteed Minimum Death Benefits with Labor Income and Term Life Insurance”, J. Gao and E.R. Ulm, Insurance: Mathematics and Economics 61, 87-98 (2015)
9. “Eliciting Subjective Probability Distributions with Binary Lotteries”, G.W. Harrison, J. Martinez-Correa, J.T. Swarthout and E.R. Ulm, Economics Letters 127, 68-71 (2015)
10. “Analytic Solution for Ratchet Guaranteed Minimum Death Benefit Options Under a Variety of Mortality Laws”, E.R. Ulm, Insurance: Mathematics and Economics 58, 14-23 (2014)
11. “Optimal Consumption and Allocation in Variable Annuities with Guaranteed Minimum Death Benefits”, J. Gao and E.R. Ulm, Insurance: Mathematics and Economics 51(3), 586-598 (2012)
12. “Insurance Pricing, Reserving and Performance Evaluation under External Constraints on Capitalization and Return on Equity”, E.R. Ulm, Journal of Risk and Insurance 79(2), 541-566 (2012)
13. “The Effect of Policyholder Transfer Behavior on the Value of Guaranteed Minimum Death Benefits in Annuities”, E.R.Ulm, North American Actuarial Journal 14(1), 16-37 (2010)
14. “Analytic Solution for Return of Premium and Rollup Guaranteed Minimum Death Benefit Options under Some Simple Mortality Laws” E.R. Ulm, ASTIN Bulletin 38(2), 543-563 (2008)
15. “The Effect of the Real Option to Transfer on the Value of Guaranteed Minimum Death Benefits” E.R. Ulm, Journal of Risk and Insurance 73(1), 43-69 (2006)
16. “Rapid Calculation of the Price of Guaranteed Minimum Death Benefit Ratchet Options Embedded In Annuities” E.R. Ulm, Journal of Actuarial Practice 11, 169-195 (2004)
17. “Fluctuation Effects in the Magnetic Penetration Depth of High-TC Films” T.R. Lemberger, E. R. Ulm, K. M. Paget and V. C. Matijasevic, SPIE Conference Proceedings 2697, 211 (1996).
18. “Thermodynamics and Critical Fields of YBa2(Cu1-xNix)3O7-d from a d-wave Model of Superconductivity”, E.R. Ulm and T.R. Lemberger, Phys. Rev. B 53, 11352 (1996).
19. “Numerical Modeling of a Two-Coil Apparatus for Measuring the Magnetic Penetration Depth in Superconducting Films and Arrays”, S.J. Turneaure, E.R. Ulm, and T.R. Lemberger, J. Appl. Phys. 79, 4221 (1996)
20. “Magnetic Penetration Depth in Ni- and Zn- doped YBa2(Cu1-xMx)3O7 Films”, E.R. Ulm, J.-T. Kim, T.R. Lemberger, S.R. Foltyn and X.D. Wu, Phys. Rev. B 51, 9193 (1995).
21. “Magnetic Penetration Depth λ (T) in Ni-doped YBa2Cu3O7 films”, E.R. Ulm, J.-T. Kim and T.R. Lemberger, Physica B 194-196, 2331 (1994).
22. “The Midinfrared Conductivity Determined from the Infrared Reflectance of YBa2(Cu1-xNix)3O7-d Films”, J.-T. Kim, E.R. Ulm and T.R. Lemberger, Physica B 194-196, 1535 (1994).
23. “Infrared Reflectance of YBa2(Cu1-xNix)3O7-d Films”, J.-T. Kim, M.J. Sumner, E.R. Ulm and T.R. Lemberger, J. Phys. Chem. Solids 54, 1335 (1993).
24. “Determination of the perpendicular penetration depth in superconducting thin films from the observation of non-uniform supercurrent flow”, D.-S. Pyun, E.R. Ulm and T.R. Lemberger, Phys. Rev. B 39, 4140 (1989).
PUBLICATIONS – SUBMITTED OR UNDER REVIEW
1. “Recovering Subjective Probability Distributions: A Bayesian Approach”, G.W. Harrison, B. Monroe and E.R. Ulm
2. “The Effect of Labor Income and Health Uncertainty on the Valuation of Guaranteed Minimum Death Benefits”, J. Gao and E.R. Ulm
3. “Risk and Time Preferences: Implications from Consumption Optimization”, E.R. Ulm, D. Bauer and J. Sydnor
4. “Influences on Sponsor Voluntary Contributions to Defined Benefit Pension Plans in the US”, T. Tabassum and E.R. Ulm
5. “Demand for Multi-Year Catastrophe Insurance Contracts: Experimental Evidence for Mitigating the Insurance Gap”, T. Dudek, E.R. Ulm and I. Noy
PUBLICATIONS – NONREFEREED AND OTHER
1. “The Financial Crisis and Lessons for Insurers”, R.W. Klein, G. Ma, E.R. Ulm, S. Wang, X. Wei and G. Zanjani, SOA Monograph, 2009.