purpose of life insurance and annuities is to hedge against the risk that one will die early or late. The present value of the … people to buy more. Insurance is a hedge, not a bet. And it makes no sense to hedge more risk than you have. …

difficult issues to resolve. Up to now there has been no easy and reliable way to compare the risk of one stock or portfolio … earlier article, spread is potentially a promising way to measure risk in real time as perceived collectively by competing … of trading day. Thus, incidentally, NTR addresses a fundamental problem with beta (the prevailing measure of risk …

managers to assume additional risk. As a result, CEOs naturally insist on the prospect of greater returns. In effect, CEOs have …

of enterprise risk management to mitigate the long-term impact of financial distress on their business models. It also …

-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance …, supermodularity, monotone comparative statics, background risk, game theory, rationalizability, iterated strict dominance multi …

ecological risks, sustainable management, benefits and risk preventing them. …