The subject of the present paper is a simplified model for a symmetric bistable system with memory or delay, the reference model, which in the presence of noise exhibits a phenomenon similar to what is known as stochastic resonance. The reference model is given by a one dimensional parametrized...

The subject of the present paper is a simplified model for a symmetric bistable system with memory or delay, the reference model, which in the presence of noise exhibits a phenomenon similar to what is known as stochastic resonance. The reference model is given by a one dimensional parametrized...

The subject of the present paper is a simplified model for a symmetric bistable system with memory or delay, the reference model, which in the presence of noise exhibits a phenomenon similar to what is known as stochastic resonance. The reference model is given by a one dimensional parametrized...

We consider models of time continuous financial markets with a regular trader and an insider who are able to invest into one risky asset. The insider's additional knowledge consists in his ability to stop a random time which is inaccessible to the regular trader, such as the last passage of a...

We consider simple models of financial markets with regular traders and insiders possessing some extra information hidden in a random variable which is accessible to the regular trader only at the end of the trading interval. The problems we focus on are the calculation of the additional utility...

Mit steigenden Elementarschäden wird die Frage nach deren Vermeidbarkeitund Versicherbarkeit drängender. Am wirkungsvollsten organisierbar ist dieElementarschadenversicherung in einem solidarischen System von Versicherungspflichtzu festgelegten Werten und Zusammenfassung aller Risiken...

"Die heutige Stellung der Gebäudeversicherung (in der Schweiz; Anm. Redaktion EconBiz) als öffentlich-rechtliche Anstalt mit Monopol, Obligatorium und Annahmezwang wird durch die folgenden rechtlichen und politischen Strömungen in Frage gestellt:(...)

Eigentlich trägt die Gebäudeversicherung einen falschen, zumindest jedoch einen unzutreffenden Namen: neben der Versicherungstätigkeit überträgt ihr der Gesetzgeber auch die Feuerpolizei und die Massnahmen zur Verhütung und Bekämpfung von Schäden, also den vorbeugenden Brand- und...

As a main step in the numerical solution of control problems in continous time, the controlled process is approximated by sequences of controlled Markov chains, thus discretizing time and space. A new feature in this context is to allow for delay in the dynamics. The existence of an optimal...

This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding costs, and a loss in franchise value. This removal was announced in 2001, but...