beneficiary: a defined benefit (DB) and a defined contribution (DC) plan. While salary risk is the main common risk factor in DB … price risk. We model these tradeoffs explicitly in this paper and compare these two plans in a utility-based framework. Our … of risk aversion, which is inconsistent with the existing literature. …

This essay summarizes my views on (a) the foundations of portfolio theory and its applications to current issues, such … as the choice of criteria for practical risk-return analysis, and whether some form of risk-return analysis should be … skepticism, especially by referees) that investors in capital asset pricing models do not get paid for bearing risk …