Showing 1 - 10 of 32
Chapter 1 is joint work with Günter Franke, University of Konstanz, and Markus Herrmann, HSBC London, and addresses the question how collateralized debt obligation (CDO-) transactions are designed. An important issue is the information asymmetry about the quality of securitized debt between...
Persistent link: https://www.econbiz.de/10009471846
Kooperation in einem einmaligen Spiel. Darüber hinaus finden wir keinen Hinweis darauf, dass Risikoaversion ein Faktor ist …
Persistent link: https://www.econbiz.de/10009476200
This study investigates, within the current health care situation, theinterrelationship of the user, resources and tool in the design of a prototypeWELLNESS database-driven web site. A shift has taken place in health care,in which the base of conventional medicine has broadened to integrate...
Persistent link: https://www.econbiz.de/10009457725
Small businesses require the right information to enhance their competitiveness, increase access to markets, and improve profitability. The internet is widely recognized as a valuable source of information, yet small businesses are reported to lag behind their larger counterparts in internet...
Persistent link: https://www.econbiz.de/10009482265
Konsum. Im zweiten Teil der Arbeit wird ein verallgemeinertes Bewertungsmodell sowie ein neues Konzept der Risikoaversion … eingeführt. Dieses Konzept der intertemporalen Risikoaversion greift einen wichtigen Aspekt des Vorsichtsprinzips auf. Der dritte … schwacher Nachhaltigkeit. Der zweite Teil der Arbeit führt das Konzept der intertemporalen Risikoaversion in einem didaktisch …
Persistent link: https://www.econbiz.de/10009476176
This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 countries. Similar to the findings of previous studies, our estimation also shows that the financial markets of the G7 countries are integrated. We obtain significant pricing...
Persistent link: https://www.econbiz.de/10009440704
We study the impact of time-varying macroeconomic conditions on optimal dynamic capital structure and the aggregate dynamics of firms in a cross-section. Our structural-equilibrium framework embeds a contingent-claim corporate financing model within a standard consumption-based asset- pricing...
Persistent link: https://www.econbiz.de/10009441273
European farmers face increasing income uncertainty and the debate is growing on the role of insurance schemes and of public support in this field. This debate is further stimulated by the perspective of introducing instruments to cope with risk also in the Common Agricultural Policy. Therefore,...
Persistent link: https://www.econbiz.de/10009442282
This paper develops theoretical and empirical models to understand how farmers formulate their participation strategies when deciding to enroll in the Conservation Reserve Program (CRP) under uncertainty. A theoretical model is employed to obtain the impacts of various factors on the optimal...
Persistent link: https://www.econbiz.de/10009442934
The objective of this study is to investigate how professional traders in futures and optionsmarkets behave under risk and uncertainty. Our preliminary findings suggest that most tradersexhibit concave utility functions for gains and convex utility functions for losses, while theirweighting...
Persistent link: https://www.econbiz.de/10009443335