The interest rate on a 10-year immediate annuity is lower than the rate on a 10-year bond for one important reason: When you invest $500k in 10-year treasury bonds you relinquish control over the $500k for all 10 years. In other words, the U.S. Treasury has the full use of the ...
Ariel Procaccia has thought a lot about how to cut a cake over the last 15 years. As the father of three children, he knows how hard it is to divide a birthday cake to everyone's satisfaction. But it's also because Procaccia's work ...