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Changes in background risk and risk taking behavior

Eeckhoudt, Louis R.; Gollier, Christian; Schlesinger, Harris - 1992

Persistent link: https://www.econbiz.de/10000843042

Reliability of risk management : market insurance, self-insurance and self-protection reconsidered

Briys, Eric; Schlesinger, Harris; Schulenburg, … - 1988

Persistent link: https://www.econbiz.de/10000762241

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

Changes in risk and the demand for saving

Eeckhoudt, Louis R.; Schlesinger, Harris - In: Journal of monetary economics 55 (2008) 7, pp. 1329-1336

Persistent link: https://www.econbiz.de/10003791673

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

Non-market wealth, background risk and portfolio choice

Franke, Günter; Schlesinger, Harris; Stapleton, Richard C. - 2007

We examine the effects of non-portfolio risks on optimal portfolio choice. Examples of non-portfolio risks include, among others, uncertain labor income, uncertainty about the terminal value of fixed assets such as housing and uncertainty about future tax liabilities. In particular, while some...

Persistent link: https://www.econbiz.de/10003876712

Risk taking with additive and multiplicative background risks

Franke, Günter; Schlesinger, Harris; Stapleton, Richard C. - In: Journal of economic theory 146 (2011) 4, pp. 1547-1568

Persistent link: https://www.econbiz.de/10009261956

Futures hedging with basis risk and expectation dependence

Broll, Udo; Welzel, Peter; Kit, Pong Wong - In: International review of economics : journal of civil economy 62 (2015) 3, pp. 213-221

Persistent link: https://www.econbiz.de/10011391637