Quasidiffusions (with natural scale) are semimartingales obtained as time changed Wiener processes. Examples are diffusions and birth- and death-processes. In general, quasidiffusions are not continuous but they are skip-free. In this note we determine the continuous and the purely discontinuous...

We introduce the notion of a convex measure of risk, an extension of the concept of a coherent risk measure defined in Artzner et aL (1999), and we prove a corresponding extension of the representation theorem in terms of probability measures on the underlying space of scenarios. As a case...

Die Agency-Theorie verweist darauf, daß die Trennung von Eigentum und Kontrolle in Unternehmen zu einem Interessenskonflikt führen kann, wenn Informationsasymmetrien und opportunistisches Verhalten beobachtet werden. Gleichzeitig bildet die Agency-Theorie den theoretischen Bezugsrahmen für...