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Selected Professional Publications of Krzysztof M. Ostaszewski

(This list only contains only a sample. Complete record of publications is here)




  • Hong Mao and Krzysztof Ostaszewski, “Optimal Claim Settlement Strategies under Constraint of Cap on Claim Loss,” Mathematics, Special Issue: Mathematical Economics and Insurance, 2021, 9(24), 3284; https://doi.org/10.3390/math9243284. Also posted here.





  • Hong Mao, Krzysztof Ostaszewski, Yuling Wang, and Zhongkai Wen, “Optimal contribution and investment in a defined benefit pension plan under the expected shortfall constraint,” chapter 9 (pp. 153-171) in the monograph Public Risk Management: Perspective of Theory and Practice, Tome 1, edited by Józef Myrczek and Piotr Tworek, Publishing House of University of Economics in Katowice, 2016.
  • Hong Mao, James M. Carson, Krzysztof Ostaszewski, Yan Luo, and Yuling Wang, “Determining the Insurer’s Optimal Investment and Reinsurance Strategy Based on Stochastic Differential Game,” Journal of Insurance Issues, 39(2), 2016, pp. 187-202.
  • Hong Mao, James M. Carson, Krzysztof Ostaszewski, and Yuling Wang, “Determination of Optimal Cap on Claim Settlements Based on Social Benefit Maximization,” Journal of Insurance Regulation, 35(3), 2016, pp. 1-23.
  • Hong Mao, James M. Carson, and Krzysztof Ostaszewski, “Optimization of Dynamic Minimum Guarantee Return, Investment And Reinsurance Strategy By Balancing the Risks And Benefit of Both Insurers’ And Consumers,” Journal of Insurance and Finance, 2016, 2, pp. 81-105. This paper received a prize for the best paper published in this edition of the Journal of Insurance and Finance.
  • Krzysztof Ostaszewski, “Retirement: Choosing between Bismarck and Copernicus”, chapter in the monograph Risk Strategies Pertaining to the Many and Diverse Risks Found in RetirementSociety of Actuaries, Schaumburg, Illinois, 2016. This paper received the second prize in the Society of Actuaries retirement risks essay competition.

  • Hong Mao, James M. Carson, and Krzysztof Ostaszewski, and Wei Hao, “Integrated Determination of Insurer Capital, Investment, and Reinsurance Strategy,” Journal of Insurance Regulation, 34(6), 2015, pp. 1-29.
  • Krzysztof Ostaszewski, “Emerging insurance regulation in the European Union and the United States” Prawo Asekuracyjne, No. 3, September 2015.

  • Hong Mao, Krzysztof Ostaszewski, and Yuling Wang , “Optimal retirement age, leisure and consumption,” Economic Modelling 43 (2014), pp. 458–464.
  • Hong Mao, James M. Carson, Krzysztof Ostaszewski, and Yuling Wang, “Unified and Dynamic Monitoring of Solvency of Property and Liability Insurance Companies,” Quality Technology & Quantitative Management, Vol. 11, No. 4, pp. 363-382, 2014.
  • Krzysztof Ostaszewski, “It’s the real economy, stupid!,” pp. 253-268, chapter in Rozne oblicza zarzadzania ryzykiem, research monograph edited by Juliusz Kotynski, published by Vistula University, Warsaw, Poland, April 2014.
  • Krzysztof Ostaszewski, The Public Pensions Crisis in the U.S., A Geneva Association Report, Geneva, Switzerland, April 2014.

  • Krzysztof Ostaszewski, “The effect of Pillar 1 on efficient investment portfolio choice in the case of the United States,” The Geneva Papers on Risk and Insurance: Issues and Practice 38, October 2013, pp. 675-700.
  • Hong Mao, James M. Carson, Krzysztof Ostaszewski, and Yuling Wang, “Pricing of Deposit Insurance Considering Investment, Deductibles and Policy Limit,” Journal of Insurance Issues, 36 (2), Fall 2013, pp. 149–174.
  • Hong Mao, James M. Carson, Krzysztof Ostaszewski, and Zhongkai Wen, “Optimal Decision on Dynamic Insurance Price and Investment Portfolio of an Insurer,” Insurance: Mathematics and Economics, 52, 2013, pp. 359–369.

  • James M. Carson, Christopher Clark, Krzysztof Ostaszewski, “The incentives and welfare economics of life insurance backdating,” Journal of Insurance Regulation, 31(2012), pp. 91-103.
  • Patrick Muldowney, Krzysztof Ostaszewski, and Wojciech Wojdowski, “The Darth Vader Rule,” Tatra Mountains Mathematical Publications, Volume 52, Issue 1, November 2012, pp. 53-63.
  • James Jones and Krzysztof Ostaszewski, “Illinois State University: Creating Actuarial Capacity in Rare Harmony,” Chapter 3.5, pp. 81-86, in Promoting Microinsurance in Ghana, published by the National Insurance Commission of Ghana and Deutsche Gesellschaft für Internationale Zusammenarbeit, Accra, Ghana, 2012.
  • Krzysztof Ostaszewski, “The financial crisis: impact on the four pillars of old-age protection” (Chapter 4) and “The holistic view: why all pillars need to work in concert” (Chapter 8), in Addressing the Challenge of Global Ageing—Funding Issues and Insurance Solutions, edited by Patrick M. Liedtke and Kai-Uwe Schanz, The Geneva Association, Geneva, Switzerland, 2012.
  • Krzysztof Ostaszewski, “ALM in Financial Intermediation: The Derivatives Business,” chapter (pp. 111-121) in Asset–Liability Management for Financial Institutions, edited by Bob Swarup, A & C Black Publishers Ltd., London, England, 2012.
  • Roger Eggleton and Krzysztof Ostaszewski, “The 6666 Problem,” The Mathematical Gazette, Volume 96, Number 535, March 2012, pp. 39-48.


  • Hong Mao and Krzysztof Ostaszewski, “Pricing Insurance Contracts and Determining Optimal Capital of Insurers,” Proceedings of the 2010 IEEE International Conference on Industrial Engineering and Engineering Management, December 2010, pp. 1-5.
  • Stanislaw Kluza and Krzysztof Ostaszewski, “Getting to grips with EU financial supervision,” The BankerMarch 31, 2010.




  • Richard MacMinn, Krzysztof Ostaszewski, Ranee Thiagarajah, and Frederik Weber, “Mortality improvement select birth cohorts and their effect on pricing of survivor bonds,” in: Re-Envisioning Retirement in the 21-st Century, Society of Actuaries Monograph, Schaumburg, Illinois, June 2006.








  • Patricia Cerrito, Dennis Olson, and Krzysztof Ostaszewski, “Nonparametric tests for the random walk in stock prices,” Advances in Quantitative Analysis of Finance and Accounting, vol. 6, 1998, pp. 27-36.
  • Krzysztof Ostaszewski, “Is Paul v. Virginia dead?”, pp. 351-360 in: Fair Value of Insurance Liabilities, edited by I.T. Vanderhoof and E. Altman, Kluwer Academic Publishers, Boston, 1998.




  • Krzysztof Ostaszewski,An Investigation into Possible Applications of Fuzzy Sets Methods in Actuarial Science, Society of Actuaries Monograph, Schaumburg, Illinois, 1993.
  • Krzysztof Ostaszewski, “Division space axiomatics”, Acta Mathematica et Informatica Universitatis Ostraviensis, 1(1993), pp. 47-58.

  • Krzysztof Ciesielski, Lee Larson, and Krzysztof Ostaszewski, “Semigroups of I-density continuous functions”, Semigroup Forum 45(1992), pp. 191-204.
  • Waldemar Karwowski, Krzysztof Ostaszewski, and Jozef Zurada, “Potential applications of catastrophe theory in modeling the risk of low back injury in manual lifting task”, Le Travail Humain, 55(3)(1992), pp. 259-275.




  • Krzysztof Ostaszewski, “Semigroups of density-continuous functions”, Real Analysis Exchange, 14(1)(1988-89), pp. 104-114.
  • Krzysztof Ostaszewski, “The space of Henstock integrable functions of two variables”, International Journal of Mathematics and Mathematical Sciences, 11(1988) 15-22.

  • Krzysztof Ostaszewski and James Sochacki, “Gronwall’s inequality and the Henstock integral”, Journal of Mathematical Analysis and Applications, 128(2)(1987), pp. 370-374.


  • Krzysztof Ostaszewski, “Variational equivalence and generalized absolute continuity”, Real Analysis Exchange, 10(1)(1984-85) 220-229.

  • Krzysztof Ostaszewski, “Continuity in the density topology II”, Rendiconti del Circolo Matematico di Palermo, (2)32(1983) 398-414.

  • Krzysztof Ostaszewski, “Continuity in the density topology”, Real Analysis Exchange, 7(2)(1982) 259-270.
  • Krzysztof Ostaszewski, “Two modifications of the approximate derivative”, Demonstratio Mathematicae, 15(3)(1982) 899-911.

All information contained here is, to our best knowledge, correct, but it is merely a representation, and should not be considered to be any form of professional advice. This electronic publication should not be misconstrued as the official position of Illinois State University, or its Department of Mathematics. We are glad to provide as much information as possible here, but we kindly ask that in any decision related to matters listed here you seek additional counsel and information. Comments on this Home Page are welcome and should be sent to Dr. Krzysztof Ostaszewski  at his e-mail address: krzysio@ilstu.edu.

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