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 …

setting. We find that we cannot reject that the reversal-of-order axiom holds. This suggests that hedging could still be … possible when carefully implementing RLIS. However, we also find low levels of ambiguity hedging across the board, suggesting … the existence of the hedging possibility does not necessarily represent a common problem in ambiguity experiments. …

empirical strategy to test whether oligopolistic firms 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 firms that compete in forward and spot markets, we develop an …

The literature has so far focused on the risk-return tradeoff in equity markets and ignored alternative risky assets … risk in the foreign exchange market. The paper provides new evidence on the intertemporal capital asset pricing model by … using high-frequency intraday data on currency and by presenting significant time-variation in the risk aversion parameter …