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The reinsurer designs a robust reinsurance contract that maximizes the penalty-based multiple-priors utility of terminal wealth, subject to the insurer's incentive compatibility constraint.
The generalized contract specifications are obtained by assuming that the investor wishes to maximize end of period expected utility of wealth subject to certain constraints.
Investors seek strategies that will support the highest expected wealth, subject to the investor's tolerance and capacity to endure downward fluctuations in the portfolio value.
Applying the asymptotic formula, we provide an approximation of the optimal investment strategy to maximize the expected terminal wealth subject to a risk constraint on the Value-at-Risk, which is defined with respect to finite-time discounted net loss.
Similar(56)
The commonality of these command-and-control authoritarian and artificially built regimes is the unaccountable governance, supranational redistribution of income and wealth, subjecting people toward government dependency, lack of freedom and instilling fear.
His commitment engendered books and exhibitions on an astonishing wealth of subject matter for there was little that did not excite his interest.
The most cited reason for opposition to inheritance tax was that inherited wealth was subject to "double taxation": people had worked, saved and paid taxes, but were then subjected to more taxation when the estate was handed over.
The main task he set himself was exploring the hills and valleys of income and wealth, a subject that economics had largely neglected.
Instead, it would double the amount of wealth not subject to the tax, and institute a full repeal in 2024.
We should also not forget about the wealth of subjects colleges teach at levels 2 and 3, and A-level.
Gordon Burn, who has died aged 61 of cancer, wrote himself into a highly distinctive place in modern British literature, covering a wealth of subjects in his books and journalism but avoiding all attempts at pigeonholing.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com