allocation process, focusing on common heuristics and Bayesian methods. The Black-Litterman model, an application of the Bayesian …

)), a derivation of the Bayesian methods developed in academia, has particular practical appeal for institutional investors … Modifikation des Black-Litterman-Ansatzes vor, die eine flexible Modellierung der Parameterunsicherheit erlaubt. Dies gilt sowohl …

probabilities, on reduced-form credit risk stress testing. This type of uncertainty is omnipresent in most macroeconomic stress … testing applications due to short time series for banks' portfolio risk parameters and highly collinear macroeconomic … distributions and implied capital shortfalls by conducting a full-edged top-down credit risk stress test for over 1,500 German banks …

CAPM -- The Consumption CAPM -- Arbitrage Pricing Theory and Multi-factor Models -- Empirical Cross-Sectional Asset Pricing … empowers students to utilize the provided code for key financial tasks, including portfolio management, risk analysis, and …