Similar Search Results

Der Einfluß von nicht-hedgebaren Risiken auf Exportproduktion und Risikopolitik

Broll, Udo - 1993

Persistent link: https://www.econbiz.de/10000374381

Value at risk, equity and diversification

Broll, Udo (contributor); Wahl, Jack E. (contributor) - 2006

The value at risk measure attempts to summarize in a single number market value risk of a portfolio of financial assets.The paper focuses on the interaction between the solvency probability of a bank, on one hand, and the diversification potential of its portfolio, on the other hand, when...

Persistent link: https://www.econbiz.de/10003326661

Uncertainty and fiscal policy in an asymmetric monetary union

Hefeker, Carsten; Zimmer, Blandine - 2009

We examine monetary and fiscal interactions in a monetary union model with uncertainty due to imperfect central bank transparency. It is first shown that monetary uncertainty discourages excessive taxation and may thus reduce average inflation and output distortions. However, as countries enter...

Persistent link: https://www.econbiz.de/10003852211

The firm under uncertainty : capital structure and background risk

Broll, Udo; Wong, Keith K.P. - 2010

This paper examines the interplay between the real and financial decisions of the competitive firm under output price uncertainty. The firm faces additional sources of uncertainty that are aggregated into a background risk. We show that the firm always chooses its optimal debt-equity ratio to...

Persistent link: https://www.econbiz.de/10003971039

Prospect theory and hedging risks

Broll, Udo; Egozcue, Martín; Wong, Wing Keung; … - 2010

The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function …, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in … mathematical challenges: simple extensions and generalizations of NM theory into the prospect theory cannot be frequently achieved …

Persistent link: https://www.econbiz.de/10003980000

Constant relative risk aversion and form equivalence classes

Battermann, Harald L.; Broll, Udo; Wahl, Jack E. - 1997

We derive a class of utility functions that are equivalent with respect to a well-defined functional form. We apply a general view of constant relative risk aversion to investigate on different equivalence relations. Then we compare our results with standard applications in economics and finance.

Persistent link: https://www.econbiz.de/10009675762

Regional investment under uncertain costs of location

Broll, Udo; Roldán-Ponce, Antonio; Wahl, Jack E. - 2012

Due to globalization competitive firms face increasing economic opportunities for locating their activities in countries, regions and cities that provide the best business environment for their specific needs. In our study we focus on the impact of economic risk and risk preferences upon...

Persistent link: https://www.econbiz.de/10009512741

Nachfrageunsicherheit und Risikopolitik im Duopol

Broll, Udo; Pelster, Matthias; Wahl, Jack E. - 2012

Die vorliegende Arbeit untersucht ein Duopol bei unsicherer Nachfrage unter Risikoaversion. Die Produktion der gesamten Industrie fällt durch die Einführung von Nachfrageunsicherheit; der Marktpreis steigt wegen des schwächeren Wettbewerbs. Damit ist die Veränderung des Gewinns und des...

Persistent link: https://www.econbiz.de/10009567543

Uncertainty and fiscal policy in an asymmetric monetary union

Hefeker, Carsten (contributor); Zimmer, Blandine (contributor) - 2008

The paper examines the monetary-fiscal interactions in a monetary union model with uncertainty due to imperfect central bank transparency. We first show that monetary uncertainty disciplines fiscal policymakers and thereby reduces taxes, average inflation and output distortions. However, as more...

Persistent link: https://www.econbiz.de/10003749682

Prospect theory and two moment model: the firm under price uncertainty

Broll, Udo; Egozcue, Martin; Wong, Wing Keung - 2009

Within the prospect theory the paper examines production and hedging decisions of a competitive firm under price … uncertainty. We consider the prospect theory for the firm's utility function in the two moment model known as (mu … theory, mean-variance model, price uncertainty …

Persistent link: https://www.econbiz.de/10003841926