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This paper examines the link between income and consumption inequality. We create panel data on consumption for the Panel Study of Income Dynamics using an imputation procedure based on food deman...
This report presents the findings of the first-ever national survey of school superintendents on U.S. competitiveness and the role of business in improving education outcomes in the U.S., including sp...
The main goal of the presented paper is to propose, specify and quantify a model of partial equilibrium in the beef meat vertical in the Czech Republic. Characterized within the analyzed relations in ...
The article focuses on the real estate partial measurements code implemented in China on August 1, 2000. It defines several terms including housing floor, property rights, and housing floor areas. It ...
Computational aspects of the optimal consumption and investment with the partially observed stochastic volatility of the asset prices are considered. The new quantization approach to filtering - dens...
We study shortfall risk minimization for American options with path dependent payoffs under proportional transaction costs in the Black--Scholes (BS) model. We show that for this case the shortfall ri...
We study shortfall risk minimization for American options with path dependent payoffs under proportional transaction costs in the Black--Scholes (BS) model. We show that for this case the shortfall ri...
In this paper, we consider a financial market with assets exposed to some risks inducing jumps in the asset prices, and which can still be traded after default times. We use a default-intensity modeli...
In this paper, we consider a financial market with assets exposed to some risks inducing jumps in the asset prices, and which can still be traded after default times. We use a default-intensity model...
In this paper we investigate partial cooperation between a portion of the players and the rest of the players who do not cooperate and play a Nash game having multiple equilibria. Some properties of ...
This paper examines a heterogeneous beliefs model in which there is a process that is only partially observed by the agents. The economy contains a risky asset producing dividends continuously in time...
In an incomplete semimartingale model of a financial market, we consider several risk-averse financial agents who negotiate the price of a bundle of contingent claims. Assuming that the agents’ risk p...
The paper introduces and studies hedging for game (Israeli) style extension of swing options considered as multiple exercise derivatives. Assuming that the underlying security can be traded without re...
Optimal partial hedging in a discrete-time market as a knapsack problem.
We consider two risk-averse financial agents who negotiate the price of an illiquid indivisible contingent claim in an incomplete semimartingale market environment. Under the assumption that the agent...

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