outcomes experienced during the game. Risk aversion decreases after earlier expectations have been shattered by unfavorable …

commodities and biofuel helps commodity suppliers hedge their portfolios, and manage the risk and co-risk of their biofuel and … should be considered as viable futures products in financial portfolios for risk management. …

In recent years the Value at Risk (VaR) concept for measuringdownside risk has been widelystudied. VaR basically is a … summary statistic that quantifies theexposure of an asset or portfolio tomarket risk, or the risk that a position declines in … be helpful to study market value risk -- proxied by shareprice risk. We develop amethodology to decompose the overall VaR …

In this paper we study Markov Decision Process (MDP) problems with the restriction that at decision epochs only a … finite number of given Markovian decision rules may be applied. The elements of the finite set of allowed decision rules … should be mixed to improve the performance. The set of allowed Markovian decision rules could for example consist of some …

heterogeneity of committee members, this voting rule is suboptimal in terms of the quality of the interest rate decision, but …

. Behind the debate, it is argued, lies a fundamental different idea of how human decision-making is to be understood and …

This paper provides an overview of the work of Herbert Simon and his ideas about rational decision making. By his own …’s research is how human beings organize themselves in different structures of distributed decision making in order to achieve a … view on rational decision making in economics and other social sciences. …

markets wherethe alternatives that similar decision makers confront vary, the search cost distribution and theutility …