When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … allow for optimal risk sharing as long as markets are complete, default is prevented in equilibrium and intermediaries …

option derivatives as useful risk management tool in commodity markets, while attuned to Islamic Shariah principles. The …

volatility of its equity returns. Foreign ownership of a bank also lowers its equity return risk. … market risk for bank equities in the case of an emerging market setting, Turkey. The analysis reveals that maturity …

occasional spikes. Appropriate pricing, portfolio, and risk management models have to incorporate these characteristics, and the …

, we show that agents economic hedging portfolios can be obtained by an intuitively appealing, risk aversion …-weighted approximate replication of the economic risk variables using the investment opportunity set, as opposed to the unweighted hedging … demand obtained in the traditional mean-variance framework.We find that agents across a broad range of levels of risk …