theory for both actuarial science and practice. Second, in the case of a general cost field, we give sufficient conditions … the risk of extreme events since they appear as a natural extension of multivariate extreme-value theory to the level of …

expected utility theory. We show that the family of HARA utility functions has a minimum-divergence, shortfall …

presence of stochastic productivity taking into account differences in flexibility of both investments. Isolated FPI and FDI …&d-investment and consequently firm productivity increase faster than with isolated international investment. Depending on the success …-probability and the correlation between the various investment possibilities, even small firms (low productivity) invest in FDI …