The theory of acceptance sets and their associated risk measures plays a key role in the design of capital adequacy tests. The objective of this paper is to investigate, in the context of bounded financial positions, the class of surplus-invariant acceptance sets. These are characterized by the...

Abstract Thomas Gambke describes in his article the concept of a property levy („Vermögensabgabe“) of the German Green Party in the context of other property related taxes such as real estate tax and inheritance tax. He explains the advantages of a property levy in contrast to a property...