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Information value, export and hedging
Broll, Udo; Eckwert, Bernhard - 2011
The paper analyzes the interactions between the precision of information, trade and welfare within a decision framework of an exporting firm. Information in a financial market is described in terms of a publicly observable signal. With higher transparency, the signal conveys more precise...
Persistent link: https://www.econbiz.de/10009228937
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International trade and the role of market transparency
Broll, Udo; Eckwert, Bernhard; Kit, Pong Wong - 2010
The paper examines the economic role of market transparency on the decision problems of an international firm. Transparency is described in terms of the informativeness of a publicly observable signal. With higher transparency, the signal conveys more precise information about the random foreign...
Persistent link: https://www.econbiz.de/10009229027
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Ambiguity and the incentive to export
Broll, Udo; Kit, Pong Wong - 2014
This paper examines the optimal production and export decisions of an international firm facing exchange rate uncertainty when the firm's preferences exhibit smooth ambiguity aversion. Ambiguity is modeled by a second-order probability distribution that captures the firm's uncertainty about...
Persistent link: https://www.econbiz.de/10011521686
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The banking firm under ambiguity aversion
Broll, Udo; Welzel, Peter; Kit, Pong Wong - 2016
We examine risk taking when the bank's preferences exhibit smooth ambiguity aversion. Ambiguity is modeled by a second-order probability distribution that captures the bank's uncertainty about which of the subjective beliefs govern the financial asset return risk. Ambiguity preferences are...
Persistent link: https://www.econbiz.de/10011541280
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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 …
Persistent link: https://www.econbiz.de/10009567543
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The impact of regret on exports
Broll, Udo; Welzel, Peter; Kit, Pong Wong - In: German economic review 17 (2016) 2, pp. 192-205
Persistent link: https://www.econbiz.de/10011474092
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Export investment under uncertainty : a mean-variance decision analysis for Indian manufacturing exporters
Mukherjee, Subhadip; Mukherjee, Soumyatanu; Mishra, Tapas; … - 2019
Persistent link: https://www.econbiz.de/10012602134
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Ambiguity preferences, risk taking and the banking firm
Broll, Udo; Welzel, Peter; Kit, Pong Wong - In: Eurasian economic review : a journal in applied … 8 (2018) 3, pp. 343-353
Persistent link: https://www.econbiz.de/10011941353
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Prospect Theory and Hedging Risks
Broll, Udo - 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/10013142328
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Export production under exchange rate uncertainty
Broll, Udo (contributor);  … - 2008
Given that a multinational enterprise can react flexibly upon exchange rate movements, international trade flows may be interpreted as an option. An enterprise will opt to export if the profits obtained from exporting under given exchange rate developments are greater than if foreign subsidiary...
Persistent link: https://www.econbiz.de/10003796274