Heterogeneous Expectations and Speculative Behavior in Insurance-Linked Securities
Within the framework of heterogeneous agent models, this paper analyzes the impact factors on the issuance of an insurance-linked security (ILS), and gives an ILS pricing formula and the conditions of existence and stability of the issue price. We consider two cases: fixed supply and flexible supply...
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| Format: | Article |
| Language: | English |
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Hindawi Limited
2015-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2015/574091 |