Catastrophic wildfires in California have become more frequent in past decades, while insured losses per event have been rising substantially. On average, California ranks the highest among states in the U.S. in the number of fires as well as the number of acres burned each year. The study of...

Catastrophic wildfires in California have become more frequent in past decades, while insured losses per event have been rising substantially. On average, California ranks the highest among states in the U.S. in the number of fires as well as the number of acres burned each year. The study of...

In der Literatur werden zahlreiche Versuche unternommen, das Investitionsverhalten von Unternehmen durch die Anwendung ökonometrischer Modelle zu verstehen. Die Spezifikation dieser Modelle stützt sich in der jüngeren Vergangenheit auf zwei Theoriebereiche. Zum einen ist dies die neue...

Die vorliegende Arbeit behandelt geeignete Indikatoren zur Quantifizierung von Marktrisiken auf einem von Krisen und Deregulierung geprägten Agrarmarkt.

Systemic weather risk is a major obstacle for the formation of private (non-subsidized) crop insurance. This paper explores the possibility of spatial diversication ofinsurance by estimating the joint occurrence of unfavorable weather conditions in dierentlocations. For that purpose copula...

In this paper we price a precipitation option based on empirical weather data from Germanyusing different pricing methods, among them the burn analysis, index value simulation anddaily simulation. For that purpose we develop a daily precipitation model. Moreover, a decorrelationanalysis is...

Spätestens seit Erscheinen des viel zitierten Buches „Investment under Uncertainty“ von Dixitund Pindyck (1994) erfährt die neue Investitionstheorie (synonym: Realoptionstheorie) großeAufmerksamkeit. Neben theoretischen Weiterentwicklungen und Verfeinerungen wird dieRealoptionstheorie in...