Insurers issuing segregated fund policies apply dynamic hedging to mitigate risks related to guarantees embedded in such policies. A typical industry practice consists of using fund mapping regressions to represent basis risk stemming from the imperfect correlation between the underlying fund...

Unlike delta-hedging or similar methods based on Greeks, global hedging is an approach that optimizes some terminal criterion that depends on the difference between the value of a derivative security and that of its hedging portfolio at maturity or exercise. Global hedging methods in discrete...

Purpose: The world is going through unprecedented times since the beginning of the COVID-19 pandemic. Billions of people will be vaccinated in the next few years. This mass vaccination effort requires setting up complex cold chain organizations and meticulous coordination of distribution...

Purpose: COVID-19 caused a highly uncertain environment and introduced a radical change in the airline industry. In that time, idle capacity due to drastic decline in passenger traffic, change in travel rules, and increases in air cargo demand have emerged as the main challenges. Effective...