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"Summary: "Offering the most comprehensive treatment of groups available, Group Dynamics, 6th Edition, International Edition combines an emphasis on research, empirical studies supporting theoretical understanding of groups, and extended case studies to illustrate the application of concepts to actual groups. This best-selling book builds each chapter around a real-life case, drawing on examples from a range of disciplines including psychology, law, education, sociology, and political science. Tightly weaving concepts and familiar ideas together, the text takes readers beyond simple exposure to basic principles and research findings to a deeper understanding of each topic." "

"Sebagai salah satu produk asuransi yang sedang mengalami perkembangan pesat, perusahaan asuransi perlu melakukan valuasi terhadap anuitas variabel secara tepat. Terlebih lagi, terdapat banyak fitur tambahan (rider) berupa guaranteed benefit yang disediakan untuk sebuah anuitas variabel. Proses valuasi juga perlu dilakukan terhadap rider guna menghindari kerugian di masa mendatang akibat ketidakmampuan perusahaan untuk melunasi guaranteed benefit milik nasabah. Pada penelitian ini, akan difokuskan mengenai valuasi dari rider Guaranteed Minimum Maturity Benefit (GMMB) dari sebuah kontrak anuitas variabel dengan mempertimbangkan opsi surrender. Metode yang akan digunakan untuk proses valuasi ini adalah dengan mengimplementasikan geometric Brownian motion untuk komponen investasi dan optimal stopping time problem untuk komponen guarantee. Bentuk optimal stopping time problem kemudian akan ditransformasi hingga menjadi persamaan diferensial parsial (PDP) non-homogen, sebelum akhirnya dilakukan pendefinisian formula valuasi untuk guaranteed benefit sekaligus early exercise boundary (EEB) dengan bantuan Duhamel’s principle. Terakhir akan dilakukan perbandingan terhadap formula valuasi guarantee dan kontrak anuitas dari hasil penelitian sebelumnya (Bernard et al., 2014) beserta perhitungan numerik menggunakan data riil dan simulasi numerik dengan variasi parameter.

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As one of the insurance products with recent rapid developments, appropriate valuation of variable annuities should be conducted by insurance companies. Moreover, the existence of additional features (riders) in the form of guaranteed benefits attached to variable annuities increases the necessity for accurate valuation towards the riders to avoid future losses due to the company's inability to pay off the customer's guaranteed benefits. This study will focus more on the valuation of the Guaranteed Minimum Maturity Benefit (GMMB) rider from variable annuities by considering surrender options. The valuation process is done by implementing geometric Brownian motion in the investment component and an optimal stopping time problem for the guarantee. The optimal stopping time problem is then transformed into a non-homogeneous partial differential equation (PDE) before the valuation formula for the guaranteed benefit and the early exercise boundary (EEB) are defined with the aid of Duhamel’s principle. Finally, a comparison test will be made on the accuracy of the valuation formula using results of previous studies (Bernard et al., 2014) along with numerical simulations using existing product rates with variations of parameters based on historical risk-free rate and asset volatility."