continuously on states of nature. It is shown that: 1. if financial markets are complete, then asset prices vary continuously with … states of nature, and; 2. if financial markets are incomplete, jumps in asset prices may be unavoidable. Consequently … incomplete financial markets may increase volatility in asset prices significantly …

Financial volatility risk is addressed through a multiple round evolutionary quantum game equilibrium leading to … Multifractal Self-Organized Criticality (MSOC) in the financial returns and in the risk dynamics. The model is simulated and the …

capital of older workers. Due to the lack of inter-generational risk sharing, innovation creates a systematic risk factor …, which we call “displacement risk.” This risk helps explain several empirical patterns, including the existence of the growth …-value factor in returns, the value premium, and the high equity premium. We assess the magnitude of displacement risk using …

The CEE stock markets are more and more integrated in the European financial markets. The growth of the integration of … financial markets favours the volatility and return spillover between them. The current study analyses the volatility spillover … among the stock markets in the countries from Central and East Europe (CEE) and Germany and France with the aim to identify …

insensitive to divestment strategies, their risk profile is proportionally (to their carbon intensity) affected by divestment …