This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...

Our paper deals with aspects regarding risk and uncertainty.Using content analyze in this paper we survey the disclosure level of risk management information in the annual report of top Romanian listed companies.

Order, symmetries, correspondences and proportionalities that served ashypothesis for any economical theories are frequently infirmed by the contemporary reality. The new theoretical approaches take into consideration chaos, as an endogenous feature of simple nonlinear systems and synergetic of...

Imagine that you own a five-outcome gamble with the following payoffs and probabilities: ($100, .20; $50, .20; $0, .20; −$25, .20; −$50, .20). What happens when the opportunity to improve such a gamble is provided by a manipulation that adds value to one outcome versus another outcome, particularly...