We generalize the classical concept of a certainty equivalent to a model where an investor can trade on a capital …

after-tax capital market is arbitrage-free and complete if it is arbitrage-free and complete in a world without taxation. We …

Diese Diskussionsarbeit stellt einen wichtigen Baustein zu einer geplanten Monographie über die Theorie der DCF … mehrfacher Hinsicht unvollständig. Sie konzentriert sich erstens auf risikoloses Fremdkapital, was zwar einer in der Theorie der …

of Johannson is usually applied. One important feature of this model is that the cost of capital are multiplied by a … binomial model an arbitrage opportunity can be created: hence, the above mentioned relation between cost of capital before and …

environmental preferences, perception of aggregate capital and risk aversion. Environmental care as well as fiscal policy are … analyzed. Due to environmental preferences and partial anticipation of the dependence between aggregate and individual capital … rate decreases with the perception of the influence of individual on aggregate capital. In contrast, the impact of …