With the introduction of the exchange-traded German wind power futures, opportunities for German wind power producers to hedge their volumetric risk are present. We propose two continuous-time multivariate models for the wind power utilization at different wind sites, and discuss the properties...

Main description: Die öffentliche Hand unterliegt nicht nur dem Rechtmäßigkeits-, sondern auch dem Wirtschaftlichkeitsgebot, weshalb der Wirtschaftlichkeitsbegriff für konkretes Handeln der öffentlichen Hand präzisiert und operationalisiert werden muss. In dem Buch werden Methoden und...

Stocks with high idiosyncratic volatility perform poorly relative to low idiosyncratic volatility stocks. We offer a novel explanation of this anomaly based on real options, which is consistent with earlier findings on idiosyncratic volatility (the positive contemporaneous relation between...