This paper is the first to study the hedging of price risk with uncertain payment dates, a frequent problem in practice … advantages with increasing hedge horizons and strongly dependent time and price risk, while linear instruments can suffice for …

two key channels---the volatility channel and the price channel---and a change in systematic risk causes a repricing of …' prices, expected returns, risk exposure, and optimal exercise policies respond to variations in the risk exposure of the … underlying asset. The model allows one to separate the effects from changes in idiosyncratic versus systematic risk. Among the …

out some key issues on how the credit risk associated to these products can be reduced and, finally, in the last section …