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Sharing R&D risk in healthcare via FDA hedges
Jørring, Adam; Lo, Andrew W.; Philipson, Tomas J.; … - 2017
Persistent link: https://www.econbiz.de/10011656884
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Sharing R&D Risk in Healthcare Via Fda Hedges
Jørring, Adam - 2017
approval data, we discuss the pricing of FDA hedges and mechanisms under which they can be traded and estimate issuer returns … from offering them. Using various unique data sources, we find that FDA approval risk has a low correlation across drug …
Persistent link: https://www.econbiz.de/10012957388
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Implementing option pricing models when asset returns are predictable
Lo, Andrew W.; Wang, Jiang - 1994
Persistent link: https://www.econbiz.de/10000889016
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Nonparametric estimation of state-price densities implicit in financial asset prices
Aït-Sahalia, Yacine; Lo, Andrew W. - 1995
Persistent link: https://www.econbiz.de/10000935916
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Nonparametric Estimation of State-Price Densities Implicit in Financial Asset Prices
Aït-Sahalia, Yacine - 2010
complex, or less liquid securities while capturing those features of the data that are most relevant from an asset …
Persistent link: https://www.econbiz.de/10012763707
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Implementing Option Pricing Models When Asset Returns are Predictable
Lo, Andrew W. - 2000
Option pricing formulas obtained from continuous-time no- arbitrage arguments such as the Black-Scholes formula generally do not depend on the drift term of the underlying asset's diffusion equation. However, the drift is essential for properly implementing such formulas empirically, since the...
Persistent link: https://www.econbiz.de/10012788555