This article examines the performance of the junior tranche of a collateralized fund obligation (CFO), i.e. the residual claim (equity) on a securitized portfolio of hedge funds. We use a polynomial goal programming model to create optimal portfolios of hedge funds, conditional to investor...

This book offers a basic reference, new material and teaching supplements to graduate students and researchers in economics, finance and insurance. The book is divided into two main parts. Part I contains six survey articles on different subjects that represent significant developments over the...

Motor vehicle accidents are still a leading cause of death, even if the trend has somewhat declined over the past 20 years. Indeed, motor vehicle accidents are a significant cause of death in comparison with air and space transport accidents, homicides and even HIV infections, causes which are...

Part 1 History - Developments in risk and insurance economics: The past 50 years -- Part 2 Climate risk protection - Fifty years of US natural disaster insurance policy -- Climate risk and insurance -- Household financial resilience after severe climate events: The role of insurance -- Insuring...