Basis = price of hedged asset-price of hedging instrument problem of basis risk: uncertainties of processes describing the evolution of prices of asset and hedging instrument not identical, only highly correlated Example 1: weather derivatives hedged asset: heating oil sales, hedging instrument: HDD derivative HDD derivative: contract paying a premium in case HDD above a critical threshold Exam...

We assess the use of hedge phrases in “affective” NLG texts. A simple experiment suggests non-native speakers prefer texts that contain hedge phrases, but native speakers prefer texts that do not contain hedge phrases.

A notion of open bisimulation is formulated for the spi calculus, an extension of the πcalculus with cryptographic primitives. This notion of open bisimulation is based on the so-called hedged bisimulation, due to Borgström and Nestmann. Open bisimulation is shown to be sound with respect to hedged bisimulation, and futher, open bisimilarity is shown to be a congruence relation on finite spi pr...

In this paper we will compare the risk return pattern along with performance measure of hedge funds to alternative investment vehicles, namely Exchange Traded Funds (ETFs). Our results showed that exchange traded can be used emulate hedged portfolios’ and matrix, performance. are required report their strategies Security Commission. Hedged have proprietary do not

Recent theoretical research shows that in asset markets vague state probabilities lead to price volatility, trading inertia, and may worsen risk-sharing efficiency, whereas Subjective Expected Utility theory implies that prices, volumes, and final allocations for risky and uncertain assets should be equivalent. We investigate experimentally whether prices, trading, and final allocations are aff...

A notion of open bisimulation is formulated for the spi calculus, an extension of the π-calculus with cryptographic primitives. This notion of open bisimulation is based on the so-called hedged bisimulation, due to Borgström and Nestmann. Open bisimulation is shown to be sound with respect to hedged bisimulation, and futher, open bisimilarity is shown to be a congruence relation on finite spi p...