In general, individuals will be interested in consumption of goods with “original”prices denominated in various currencies. Traditional risk management is nominally orientedand typically neglects this differentiated consumption preferences of investors. We outline therelevance of a consumption...

Das Thema der vorliegenden Diplomarbeit sind optimale Hedging- und Spekulationsstrategien für einen Unternehmer, der an einer internationalen Ausschreibung teilnimmt. Im Kapitel 2 werden das Entscheidungsproblem und die für alle nachfolgenden Abschnitte gemeinsamen Annahmen ausführlich...

Derivative financial instruments are frequently used as a tool for influencing the risk ofentrepreneurial uncertain payoff. To this end, an approximation procedure is developed capable ofcalculating the optimal quantity of derivatives to be used. It is assumed that the entrepreneurial cashflow...