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A wealth-process set is abstractly defined to consist of nonnegative cadlag processes containing a strictly positive semimartingale and satisfying an intuitive re-balancing property. Under the condition of absence of arbitrage of the first kind, it is established that all wealth processes are...
Persistent link: https://www.econbiz.de/10010745612
traditional approach is that measures the risk and return tradeoff in terms of mean and variance of final wealth. However, there …
Persistent link: https://www.econbiz.de/10010745189
a deeper understanding as to why the economy lacks in specific areas of risk sharing arrangements. As well, it can point … to areas where the economy's risk sharing capability can be enhanced. Using household data from the Panel Study of Income … Dynamics, we find that a negligible amount of risk (around 10%) is shared in the aggregate, about 50% is shared within regions …
Persistent link: https://www.econbiz.de/10005475171
risk information in the global economy. The paper examines the current state of the financial risk framework, notes its … place. The proposed open-source financial risk model separates the dual function that internal risk models perform within … financial institutions, first to attempt to optimize the risk-return profile of mostly private economic rent-seeking entities …
Persistent link: https://www.econbiz.de/10011163501
Social networking is arguably the fastest growing online activity among youth people. This article presents new pan-European findings from the EU Kids Online project on how children and young people navigate the peer-to-peer networking possibilities afforded by social networking sites, based on...
Persistent link: https://www.econbiz.de/10011125939
Complex regulatory decisions about risk rely on the brokering of evidence between providers and recipients, and involve … risk science, decision psychology and computer simulation. A two-agent model that accounts for the sufficiency of evidence …
Persistent link: https://www.econbiz.de/10011126122
This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great Recession of 2007-2009? On the first question both macro...
Persistent link: https://www.econbiz.de/10011126328
risk. To do so, the article unravels the much-misunderstood experiences of eight Norwegian municipalities whose investments … analytical concepts—“the fetishization of the knowledge of risk” and “fictitious distance”—to help explain how the crisis spread …
Persistent link: https://www.econbiz.de/10011126446
Risk-based regulation is becoming a familiar regulatory strategy in a wide range of areas and countries. Regulatory … attention tends to focus, at least initially, on high risks but low-risk regulatees or activities tend to form the bulk of the … survey-based research is used to develop a taxonomy of intervention strategies that may be useful in relation to low-risk …
Persistent link: https://www.econbiz.de/10011126704
Persistent link: https://www.econbiz.de/10011126719