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Persistent link: https://www.econbiz.de/10012800014
Differentiating between standard risk measures and downside risk has a longstanding tradition in finance. Interestingly, this fundamental distinction has been neglected in the literature on risk sharing. Drawing on a simple definition in Markowitz (1959), we translate downside-risk metrics...
Persistent link: https://www.econbiz.de/10013313725