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Pragmatic-world nominal riskless rates are non-negative. However, conventional arbitrage theory has yet to develop a theoretical justification of this phenomenon. – We define the null-alternative cash as an investor holding onto cash and refraining from investment and consumption ("doing...
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Portfolio Selection und Analgeentscheidungen in Finanzmärkten -- Treffen Investoren mit konstanter relativer Risikoaversion auch im Buy-and-Hold-Kontext myopische Portfolioentscheidungen? -- Faktorstruktur und Marktmodelle -- Effiziente Portefeuillestrukturen: von Harry Markowitz zur...
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