FinTech makes numerous financial products accessible to common investors but up to now, there is no risk measure method specially customized for common investors instead of financial institutions which are generally too big to fail. This paper develops a hedging-based utility risk measure (HBU)...

The challenges associated with poverty measurement with a cardinal variable have received due attention during the last four decades, but there is a dearth of literature studying how to meaningfully assess poverty with an ordinal variable. This paper first proposes a class of simple, intuitive...

With rural extreme poverty officially eradicated in 2020, China is to move to measuring relative poverty in urban and rural areas. Relative poverty describes circumstances in which people cannot afford actively to participate in society and benefit from the activities and experiences that most...