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Thomas Sager


Department:     Information, Risk & Operations Management

Industry Areas:     Insurance

Research Areas:     Accounting Regulation and Liability, Capital Structure, Econometrics, Risk Management, Statistical Analysis

Thomas Sager Headshot


Sager, Thomas W.
Professor, Department of Information, Risk, and Operations Management

Tom Sager received his B.A., M.S., and his Ph.D. from the University of Iowa. His teaching and research interests are in applied and theoretical statistics, insurance and financial statistics.


Etti G. Baranoff, Thomas W. Sager, Bo Shi, and Dalit Barranoff. 2023. On the Financial Superiority of Medicaid Specialist Insurers: A Novel Transactions Cost/supply Chain Approach. Geneva Papers on Risk and Insurance-Issues and Practice 48(1):32-67.

Savas Papadopoulos, Pantelis Stavroulias, and Thomas W. Sager. 2019. Systemic Early Warning Systems for EU14 Based on the 2008 Crisis: Proposed Estimation and Model Assessment for Classification Forecasting. Journal of Banking Regulation 20(3), 226-244.

Savas Papadopoulos, Pantelis Stavroulias, Thomas W. Sager, and Etti Baranoff. 2018. A Three-State Early Warning System for the European Union. Journal of Risk 21(1), 1-36.

Bruce D. Evans, David T. Russell, and Thomas W. Sager. 2013. Operational, Legal and Tax Issues in Life Settlement Transactions. Journal of Insurance Regulation 32, 101-118.

Etti Baranoff and Thomas W. Sager. 2011. The Interplay between Insurers' Financial and Asset Risks during the Crisis of 2007-2009. Geneva Papers on Risk & Insurance - Issues & Practice 36(3), 348-379.

Tom S. Shively and Thomas W. Sager. 2009. A Bayesian approach to non-parametric monotone function estimation. Journal of the Royal Statistical Society: Series B 71, 159-175.

Etti G. Baranoff and Thomas W. Sager. 2009. Do Life Insurers' Asset Allocation Strategies Influence Performance within the Enterprise Risk Framework? Geneva Papers on Risk & Insurance - Issues & Practice 34(2), 242-259.

Etti G. Baranoff and Thomas W. Sager. 2009. The Impact of Mortgage-Backed Securities on Capital Requirements of Life Insurers in the Financial Crisis of 2007-2008. Geneva Papers on Risk and Insurance - Issues & Practice 34(1), 100-118.

Baranoff, Etti G., Papadopoulos, Savas, and Thomas W. Sager. 2007. Capital and Risk Revisited: A Structural Equation Model Approach for Life Insurers. Journal of Risk & Insurance 74, 653-681.

Mann, Ronald J and Thomas W. Sager. 2007. Patents, venture capital, and software start-ups. Research Policy 36, 193-208.

John R. Allison and Thomas W. Sager. 2007. Valuable Patents Redux: On the Enduring Merits of Using Patent Characteristics to Identify Valuable Patents. TEXAS LAW REVIEW 85, 1769-1797.

Thomas W. Sager and Elizabeth Murff. 2004. The Relative Efficiency of Ranked Set Sampling in Ordinary Least Squares Regression. Journal of Environmental and Ecological Statistics.

Thomas W. Sager and Etti Baranoff. 2004. What’s Running Life Insurers’ Asset Allocation Decisions? Regulation, Financial Rating, Owners/manager Conflicts or Other Determinants? Seminar Proceedings of the International Insurance Society, Inc., 113-127.

Thomas W. Sager and Steven A. Lauer. 2003. The Hourly Rate's Adverse Impact on Client/Counsel Relations. Of Counsel 22, 5-11.

Etti Baranoff and Thomas W. Sager. 2003. The Relations among Organizational and Distribution Forms and Capital and Asset Risk Structures in the Life Insurance Industry. Journal of Risk and Insurance 70, 375-400.

Baranoff, Etti G. and Thomas W. Sager. 2002. The relations among asset risk, product risk, and capital in the life insurance industry. Journal of Banking & Finance 26, 1181.

Etti G. Baranoff and Thomas W. Sager. 2002. The Relations Between Asset Risk, Product Risk, and Capital in the Life Insurance Industry. Journal of Banking and Finance 26, 1181-1197.

Donald R. Davis, Thomas W. Sager, Steven Senn, Douglas G. Altman, and Clement J. McDonald. 2001. Claims for Glandular Supplements Still Unsubstantiated. Journal of Applied Nutrition 51, 106-110.

Tom S. Shively and Thomas W. Sager. 2000. A Semiparametric Regression Approach to Adjusting for Meteorological Variables in Air Pollution Trends. Environmental Science and Technology 33, 3873-3880.

Etti G. Baranoff, Thomas W. Sager, and Tom S. Shively. 2000. A Semiparametric Stochastic Spline Model as a Managerial Tool for Potential Insolvency. Journal of Risk and Insurance 67, 369-396.

Etti G. Baranoff, Dalit Baranoff, and Thomas W. Sager. 2000. Nonuniform Regulatory Treatment of Broker Distribution Systems: An Impact Analysis for Life Insurers. Journal of Insurance Regulation 19, 94-129.

Etti G. Baranoff, Thomas W. Sager, and Robert C. Witt. 1999. Industry Segmentation and Predictor Motifs for Solvency Analysis of the Life/Health Insurance Industry. Journal of Risk and Insurance 66, 99-123.

Thomas W. Sager and E. Baranoff. 1998. Asset Risk in the Risk-Based Capital Law: Differential Impacts on Life/Health Industry Segments. Journal of Risk and Insurance.

Ming Luo, S. Lynne Stokes, and Thomas W. Sager. 1997. Estimation of the CDF of a Finite Population in the Presence of a Calibration Sample. Journal of Environmental and Ecological Statistics 15, 346-352.

Thomas W. Sager and M.W. Hemphill. 1996. Applying the SAS System for Visual-Driven Analysis to the Support of Ambient Ozone Control Policy, in Proceedings of A&WMA Computing in Environmental Resource Management Conference,

Thomas W. Sager and M.W. Hemphill. 1996. SAS/GIS and SAS/SPECTRAVIEW for Visualization-Driven Analysis: An Application Supporting Ambient Ozone Control Policy, in Proceedings of 6th Annual South-Central Regional SAS Users' Group Conference,

Thomas W. Sager and M.W. Hemphill. 1996. Temporal and Geographical Statistical Modeling: A New Paradigm, in Proceedings of SAS Users Group International 21st Annual Conference, 1327-1335.

Thomas W. Sager, Alison Miler-Gonzalez, and J. Patrick King. 1995. Ambient Ozone Exposure on the Micro Scale, in Proceedings of Air and Waste Management Association Annual Meeting, 95-WA84A.5.

Thomas W. Sager, Edward I. George, and Elizabeth Murff. 1995. Analysis of Potential Integrated Exposure over Threshold: 15 Houston Sites, in Proceedings of Air and Waste Management Association Annual Meeting, 95-TA43.01.

Thomas W. Sager. 1995. Assessing Network Optimization in Houston: Concepts and Measures, in Proceedings of Air and Waste Management Association Annual Meeting, 95WP82.02.

Alison Miller and Thomas W. Sager. 1994. Site Redundancy in Urban Ozone Monitoring. Journal of Air and Waste Management Association 44, 1097-1102.

A. Narayanan and Thomas W. Sager. 1993. The Mode of a Beta Distribution and its Uses in Industrial Applications. Journal of Air and Waste Management Association 43.

Thomas W. Sager and M.W. Hemphill. 1992. Adaptive Algorithmic Response Surface Estimation, in Proceedings of South Central SAS Regional Conference, 252-266.

Robert A. McAllister, Phyllis L. O'Hara, John E. Robbins, and Thomas W. Sager. 1992. Comparing Nonmethane Organic Compounds, NOx, and Daily Maximum Ozone Concentrations by Site and by Year, in Proceedings of Air and Waste Management Association, 92-85.01.

Christof J. Kessler, Thomas H. Porter, David Firth, Thomas W. Sager, and M.W. Hemphill. 1992. Factor Analysis of Trends in Acidic Deposition in Texas. Atmospheric Environment 26A, 1137-1146.

Theresa Walker Karle and Thomas W. Sager. 1991. Are the Federal Sentencing Guidelines Meeting Congressional Goals? An Empirical and Case Law Analysis. Emory Law Journal 40, 393-444.

Thomas W. Sager, James P. Gise, and M.W. Hemphill. 1991. Identification of Ozone Trends Masked by Effects of Weather and Seasonal Variations - a Houston Case Study, in Proceedings of Air and Waste Management Association, 91-66.6.

Robert A. McAllister, Thomas W. Sager, James P. Gise, and M.W. Hemphill. 1991. Importance of NOx Control Suggested by NMOC-NOx-Ozone Data Analysis, in Proceedings of Air and Waste Management Association, 91-75.1.

Thomas W. Sager, James P. Gise, and M.W. Hemphill. 1991. Nearest Neighbor Hot-Deck Imputation for Missing Values with SAS/IML, in Proceedings of South Central SAS Regional Conference, 189-197.

A. Narayanan and Thomas W. Sager. 1990. A Comparison of Two Approaches to Classification of Air Pollution Data. Journal of Official Statistics 5, 375-389.

Thomas W. Sager, M.W. Hemphill, and Alfredo Vaquiax. 1990. Statistical Assumptions Matter in Data Analysis for Texas Ozone Non-Attainment Sites. Journal of Air and Waste Management Association 40, 199-205.

A. Narayanan and Thomas W. Sager. 1989. Table for the Asymptotic Distribution of Univariate Mode Estimators. Journal of Statistical Computation and Simulation 33, 37-51.

Thomas W. Sager and M.W. Hemphill. 1988. A Surface Response Analysis of Ozone and its Precursors, in Proceedings of Air Pollution Control Association, 88-44.1.

S. Lynne Stokes and Thomas W. Sager. 1988. Characterization of Ranked-Set Sample with Application to Estimating Distribution Functions. Journal of the American Statistical Association 83, 374-381.

Alfredo Vaquiax, Thomas W. Sager, and M.W. Hemphill. 1988. On the Reliability of NMOC Measurements for Ozone Modeling, in Proceedings of Air Pollution Control Association, 88-66.9.

M.W. Hemphill, James P. Gise, Bruce A. Broberg, and Thomas W. Sager. 1988. Statewide Ozone Trends - Texas, in Proceedings of Air Pollution Control Association, 88-45.7.

Michael V. Mannino, Paicheng Chu, and Thomas W. Sager. 1988. Statistical Profile Estimation in Database Systems. ACM Computing Surveys 20, 191-221.

Thomas W. Sager. 1986. An Application of Isotonic Regression to Multivariate Density Estimation, in Advances in Order-Restricted Statistical Inference, Springer-Verlag, 69-90.

Thomas W. Sager. 1986. An Isopleth Method for Mapping Multidimensional Distributions, in Statistical Image Processing and Graphics, E. Wegman and D. DePriest, eds. Marcel Dekker, 307-319.

Thomas W. Sager. 1986. Searching for and Exploiting Structure in Higher Dimensional Density Estimation, in Classification as a Tool of Research, W. Gaul and M. Schader, eds. North-Holland, 389-396.

Thomas W. Sager. 1983. Estimating Modes and Isopleths. Communications in Statistics A 12, 529-557.

Thomas W. Sager and Ronald Thisted. 1982. Maximum Likelihood Estimation of Isotonic Model Regression. Annals of Statistics 10, 690-707.

Thomas W. Sager. 1982. Nonparametric Maximum Likelihood Estimation of Spatial Patterns. Annals of Statistics 10, 1125-1136.

Thomas W. Sager. 1979. An Iterative Method for Estimating a Multivariate Mode and Isopleth. Journal of the American Statistical Association 74, 329-339.

Thomas W. Sager. 1978. A New Approach to Regression in Certain Time/Space Series Problems, in Time Series and Ecological Processes, H.H. Shugart, ed. Philadelphia, PA, 265-278.

Thomas W. Sager. 1978. Estimation of a Multivariate Mode. Annals of Statistics 6, 802-812.

Thomas W. Sager. 1976. Relating Spatial Distributions of Pollutants to Health Effects, in Proceedings of the Ninth International Biometric Conference II, Raleigh, NC: The Biometric Society, 35-58.

Thomas W. Sager. 1975. Consistency in Nonparametric Estimation of the Mode. Annals of Statistics 3, 698-706.