perhaps there is exogenous variation in risk tolerance so that highly risk tolerant households engage in high-risk high …-return activities and the risk-lovers who are lucky constitute the rich A second possibility is that capital market imperfections a la … utility of anticipated bequests) implying that risk aversion declines as wealth rises The paper concludes that the overall …

investors. The tools will be a hedge against the risk of mitigation short squeeze occurring because investment is deferred …

We propose and implement a procedure to optimally hedge climate change risk. First, we construct climate risk indices … climate risk hedge portfolios. The new mimicking portfolio approach is much more efficient than traditional sorting or maximum … delivering markedly higher and statistically significant alphas and betas with the climate risk indices. …

Market liquidity is the ease of trading an asset. Its risk is the potential loss, because a security can only be traded … long remained a more or less elusive concept. Treatment of liquidity risk is still under development.This paper provides an … overview on important aspects of market liquidity and its risk. We also survey existing models to integrate market liquidity …