the real-world measure and the risk-neutral measure in an environment of stochastic implied volatility. On the basis of … volatility derivatives. In the first part, the book develops a unifying theory for the analysis of contingent claims under both … risk, and volatility trading …

crisis. Within a partial investment model, two kinds of uncertainty are introduced: volatility and disaster risk. The article … important but often neglected element of micro- and macroeconomic theory. With the onset of the financial crisis in 2007 and the … of uncertainty in macroeconomic models against the background of the theory of real option values, with a strong focus on …