, firms in the two countries differ notably on issues such as the primary goal of hedging, their choice of instruments, and …

contingent on the spot price, a risk-averse monopolist chooses to participate in the derivatives market to hedge her risk, and … she reduces expected profits by doing so. However, eliminating all risk is impossible. These results are independent of …

hedging risk. Even if this is not entirely possible, the replication approach serves as pricing benchmark for investors who … investors and the hedging of exposures remains dificult. This paper proposes to overcome these problems by introducing a call … attractiveness of gaining exposure to a previously non-traded risk. This setting further overcomes the problem of art market …

level of risk. We investigate how the introduction of Crisis Contracts changes the equilibrium level of risk-taking and the …

In this article, we investigate risk return characteristics and diversification benefits when private equity is used as …. There is a high marginal diversifiable risk reduction of about 80% when the portfolio size is increased to include 15 … investments. When the portfolio size is increased from 15 to 200 there are few marginal risk diversification effects on the one …

We present a tractable model of the effects of nonfinancial risk on intertemporal choice. Our purpose is to provide a … economy, where most modelers have chosen not to incorporate serious nonfinancial risk because available methods were too … most of the key implications of nonfinancial risk for intertemporal choice. …