We extend the analysis on hedging with price and output uncertainty by endogenizing the output decision. Specifically …, we consider the joint determination of output and hedging in the case of flexibility in production. We show that the risk …

rate can affect domestic trading and prices through offshore hedging and international trade if the traders are interested …

of risk aversion that is based on the observed risk preferences of energy hedging market participants. The resulting …

Hedging of illiquid financial instruments is carried out with liquid instruments that, as a rule, have simpler payoff … functions. For example, hedging of Asian or long-dated put options is carried out with vanilla puts, hedging of Bermuda … swaptions is done with vanilla swaptions, etc. This kind of hedging implies replication of the complex illiquid instrument in …

' and buyers' heterogeneity, but to their demand for hedging against house price risk. When the imperfections of real estate …

frequently used derivatives in hedging transaction exposure. This paper examines whether forwards performs better than over …-the-counter option for a New Zealand exporter in hedging NZD/USD transaction exposure. This research adopts Hsin, Kuo and Lee's (1994 …) model of hedging effectiveness which maximizes the exporter's expected negative exponential utility function to compare and …

frequently used derivatives in hedging transaction exposure. This paper examines whether forwards performs better than over …-the-counter option for a New Zealand exporter in hedging NZD/USD transaction exposure. This research adopts Hsin, Kuo and Lee's (1994 …) model of hedging effectiveness which maximizes the exporter's expected negative exponential utility function to compare and …