empirical strategy to test whether oligopolistic frms use forward contracts for strategic motives, for risk-hedging, or for both …. An increase in the number of players weakens the incentives to sell forward for risk-hedging reasons.However, if …Building on a model of the interaction of risk-averse frms that compete in forward and spot markets, we develop an …

Dominance and further toDecreasing Absolute and Increasing Relative Risk Aversion Stochastic Dominance. The efficient sets …

Consider a simple two-state risk with equal probabilities for the two states. In particular, assume that the random … way, we can extend and generalize existing results about risk attitudes. This lottery preference includes behavior … exhibiting higher order risk effects, such as precautionary effects and tempering effects. …

risk aversion aspects of enterprises, it is demonstrated that situations characterized by enhanced exchange rate volatility …

, applications are given to the mean-variance hedging problem with random market conditions, and an explicit characterization for the … optimal hedging portfolio is given in terms of the adapted solution of the associated backward stochastic Riccati differential …

the problem is described by an BSDE. For a totally unhedgeable price for instan- taneous risk, isoelastic utility of … terminal wealth can be maximized using a portfolio consisting of the locally risk-free bond and a lo- cally efficient fund only …