In Foreign Exchange Markets vanilla and barrier options are traded frequently. The market standard is a cutoff time of 10:00 a.m. in New York for the strike of vanillas and a knock-out event based on a continuously observed barrier in the inter bank market. However, many clients, particularly...

Bei der Altersvorsorge von Privatanlegern ergibt sich in der derzeitigen Marktsituation die Frage nach der Einführung von Anlageprodukten mit Garantien. Garantien können sich auf das Kapital oder auf eine Mindestrendite beziehen. Produktvarianten können Fonds oder Zertifikate sein. Aus Furcht...

The approach by Engelberg, Manski, and Williams (2009) to convert probabilistic survey responses into continuous probability distribution requires that the question intervals are equally wide. Almost all recently established household surveys have intervals of varying widths. Applying the...

The approach by Engelberg, Manski, and Williams (2009) to convert probabilistic survey responses into continuous probability distributions implicitly assumes that the question intervals are equally wide. Almost all recently established household surveys have intervals of varying widths. Applying...

Central bank surveys frequently elicit households' probabilistic beliefs about future inflation. The responses provide only a coarse picture of inflation beliefs further away from zero. Using data from the Bundesbank household panel, we show that the current high-inflation environment induces...

Central bank surveys frequently elicit households' probabilistic beliefs about future inflation. However, most household surveys use a response scale that is tailored towards low-inflation regimes. Using data from a randomized controlled trial included in the Bundesbank Online Panel Households,...