This is a preview. Log in through your library . Publisher Information The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and ...

Risk is common in our lives and affects many everyday decisions (eg, whether to gamble in the casino, which insurance policy to purchase, or which school to enroll in). When making decisions between ...

We measure “good” and “bad” variance premia that capture risk compensations for the realized variation in positive and negative market returns, respectively. The two variance premium components ...