In this paper we want to explore an argumentative pattern that provides a normative justification for expected utility functions grounded on empirical evidence, showing how it worked in three different episodes of their development. The argument claims that we should prudentially maximize our...

Professor Stout's brilliant concept of disagreement-based speculation (in "Risk, Speculation, and OTC Derivatives: An Inaugural Essay for Convivium") calls for further developments and studies concerning implications for stability and resilience of the financial system over time. Moreover, it...

Financial regulation has dramatically evolved and strengthened since the crisis on both sides of the Atlantic, with enhanced international coordination through the G-20 and the Financial Stability Board and, at the regional level, a definite contribution from the European Union. However the new...