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News about zero-leverage firms
Geelen, Thomas A. - 2016
-cycle theory of debt maturity …
Persistent link: https://www.econbiz.de/10011626255
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Lemons and money market?
Ewerhart, Christian; Feubli, Patricia - 2010
This paper identifies simple conditions for monotone comparative statics of a unique equilibrium in the Akerlof-Wilson model. Separate conditions apply to trade volume and price. Trade volume increases when supply becomes both stronger and more elastic. In contrast, price decreases when supply...
Persistent link: https://www.econbiz.de/10003973048
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Asymmetric information and adverse selection in Mauritian slave auctions
Dionne, Georges; St.-Amour, Pascal; Vencatachellum, Désiré - 2008
tests to Mauritian slave auctions. Dynamic auction theory with private value highlights more aggressive bidding by …
Persistent link: https://www.econbiz.de/10003966182
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Dealer intermediation between markets
Dunne, Peter G.; Hau, Harald; Moore, Michael J. - 2012
We develop a dynamic model of dealer intermediation between a monopolistic customerdealer (B2C) market and a competitive inter-dealer (B2B) market. Dealers face inventory constraints and adverse selection. We characterize the optimal quote setting and inventory management behavior for both...
Persistent link: https://www.econbiz.de/10009624581
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Optimal investment and premium policies under risk shifting and solvency regulation
Filipović, Damir; Kremslehner, Robert; Muermann, Alexander - 2011
Limited liability creates a conflict of interests between policyholders and shareholders of insurance companies. It … the value policyholders attach to and premiums they are willing to pay for insurance coverage. We characterize Pareto … calibrate our model to a non-life insurer average portfolio. Risk Shifting, Insurance, Regulation, Pareto Optimality …
Persistent link: https://www.econbiz.de/10009009505
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Stochastic claims reserving manual : advances in dynamic modeling
Wüthrich, Mario V.; Merz, Michael - 2015 - Version: August 21, 2015
our first book Stochastic Claims Reserving Methods in Insurance in 2008. Particularly the new solvency guidelines have …
Persistent link: https://www.econbiz.de/10011412274
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Best-Estimate Claims Reserves in Incomplete Markets
Happ, Sebastian - 2014
We give a rigorous definition of best-estimate reserves for insurance liabilities in a general multiperiod financial … strategies. Based on this optimal dynamic hedging strategies we define best-estimate reserves for insurance liabilities. One …
Persistent link: https://www.econbiz.de/10013049111
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Dividends: from refracting to ratcheting
Albrecher, Hansjörg; Bäuerle, Nicole; Bladt, Martin - 2018
In this paper we consider an alternative dividend payment strategy in risk theory, where the dividend rate can never …
Persistent link: https://www.econbiz.de/10011899803
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On randomized reinsurance contracts
Albrecher, Hansjörg; Cani, Arian - 2018
In this paper we discuss the potential of randomizing reinsurance treaties for efficient risk management. While it may be considered counter-intuitive to introduce additional external randomness in the determination of the retention function for a given occurred loss, we indicate why and to what...
Persistent link: https://www.econbiz.de/10011899813
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The valuation of insurance liabilities : a framework based on first principles
Bergesio, Andrea; Huber, Paul; Koch Medina, Pablo; … - 2020 - This version: 24 April 2019
We describe a framework for the valuation of insurance liabilities that relies on first principles in finance theory …
Persistent link: https://www.econbiz.de/10012179689