This paper examines the effect of competition on the irreversible investment decisions under uncertainty as a …

these instruments in the banking in- dustry which is heavily exposed to credit risk. However, while recent literature mainly … of these instruments in the competition between banking firms. We use a duopolistic version of the industrial … organization approach to banking to find out that credit derivatives may influence banking competition. For this result to hold …

underlying risk is unsystematic or the binding relation between risk and return is neglected, the strictly positive effect of …

induces a negative effect on the profits of both media outlets, and increases price competition. Furthermore, the newspaper …

This paper focuses both on the competition process and the firms liability in environmental protection and the … liability: they seek to minimize the technologies accident risk while the second one corresponds to a much more standard choice … duopolistic competition model with strict liability, we show, first, that the way the firms assess the environmental question is …

Die vorliegende Arbeit untersucht ein Duopol bei unsicherer Nachfrage unter Risikoaversion. Die Produktion der gesamten …The paper studies an duopoly with risk averse firms exposed to demand uncertainty. A risk sharing market is introduced …

everal empirical findings have challenged the traditional trade-off between risk and incentives. By combining risk … risk and incentives can be explained. …

assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the … importance of risk and correlation. Second, debate and models largely overlook the difference in attitude with respect to risk … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …

This paper analyzes optimal incentive compatible debt contracts when lenders are risk averse. The decisive factor in … this regard is that risk aversion requiresto consider further sources of risk the lenders are exposed to. The main … due to risk aversion oflenders which is reinforced by the introduction of a further source of risk – are shown to be in …