and analytical tools. Uncertainty can dominate, as in the climate change debates. Increasing the resolution of models does … not always yield sufficient certainty. This book presents much-needed new tools for modeling and management of uncertainty. … concepts and analytical tools. The uncertainty critically dominantes, e.g., the climate change debates. In short, the dilemma …

Concept of -Cherry Junction Tree -- Robust Solutions under Uncertainty -- Induced Discounting and Risk Management -- Cost …General Remarks on Robust Solutions -- Modeling of Uncertainty and Probabilistic Issues -- On Joint Modelling of Random … Uncertainty and Fuzzy Imprecision -- On the Approximation of a Discrete Multivariate Probability Distribution Using the New …

We develop a model of pandemic risk management and firm valuation. We introduce aggregate transmission shocks into an …

-contribution (DC) plans that typically contain a minimum benefit guarantee (DC-MB). Risk management techniques must be used to control … the Samp;P500. Calculations show that the true risk-adjusted value of unfunded guarantees in a realistic DC-MB plan equals … 'basis risk' if they chose a non-standard portfolio. However, for large conversions from DB to DC-MB plans, in which there is …

these rejections are in part a consequence of the presence of omitted risk factors which are associated with nonzero risk … model should partially reflect exposure to these omitted sources of systematic risk and,hence, should help explain expected … residual risk effect in the previous literature:(1) nonlinearity of the residual risk effect and (2) the inadequacy of the …

policy, while reducing the uncertainty on the tax base, creates uncertainty on the tax rate. This occurs because regions hit … regions and linear taxes, we show that the higher uncertainty on the policy instrument might more than offset the lower … uncertainty on the tax base, thus making a majority of agents in each region worse off in a centralized regime. The model is a …

studies conducted in eleven countries to explore liquidity risk transmission. Among the main results is, first, that … explanatory power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk … management across global banks can be important for liquidity risk transmission into lending. Fourth, there is substantial …