Classical finance has undergone a major change in recent years. In our modern world, where risk becomes more complex and difficult to calculate, more sophisticated mathematical techniques and products are needed to quantify such new risks. The financial sector should have a solid structure in...

Sticky costs materialize when costs increase more with rising an activity than they decrease with falling of the very same amount of the activity. Over time a silent diffusion of sticky costs can be observed in the HoReCa (HOtel/REstaurant/CAtering) industry. In sticky costs literature the cost...