作者: Yiyong Yuan
DOI: 10.2139/SSRN.2559666
关键词:
摘要: In searching for the unique solution to problem of optimal demand risks with risk-averse agents, existing literature forms two classes: those seeking range signpost “0” and nonzero constant signposts. The former class neglects importance asymmetric dependence so that a paradox signing risks’ covariance occurs. This justifies an alternative modelling problems further leads discovery correct sufficient necessary conditions such problems. On other hand, studies latter make implicit assumption before they construct distribution risks. By considering stochastic signposts first time, general model without not only invalidates known but also provides explicit includes ones as special cases.