In this article, a new method for pricing contingent claims, which is particularly well suited for options with complex barrier and volatility structures, is introduced. The approach is based on a high-precision approximation of the <italic>Feynman-Kac</italic> equation with distributed approximating...

Our paper presents new estimates of matching functions on partial labor markets. We used extensive data, ranging from 1982 to 2003, which results in new insights, extending the knowledge obtained by former empirical studies. We also used the extended time series data to validate model...

This paper clarifies the relation between decisions of a risk-averse decision maker, based on expected utility theory on the one hand, and spectral risk measures on the other.