portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option …. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and … are different from unconditional projects. We show that although the risk of a portfolio always depends on the correlation …

We assess market integration and price transmission of perishable agricultural produce in Sub-Saharan Africa by …, Tamale and Accra, in a multivariate asymmetric price transmission framework. The estimation of the model is based on a unique … models. We estimate the price transmission parameters for four regimes which are a combination of the seasonal patterns in …

many initial positions. Assuming that the price of a Bermudan option can be evaluated sufficiently accurate, we develop a …