The constant volatility plain vanilla Black-Scholes model is clearly inadequate to reproduce
even plain vanilla option prices observed in the market. Efforts to build a pricing model with …

During this uncertain pandemic situation, the number of investors is increasing all over the
world. Nevertheless, this trend does not indicate the right investment decision, especially for …

This paper contains the online appendix to the Risk Journal paper on Performance
measures Adjusted for the Risk Situation (PARS), which incorporate individual risk …

Increasing competition, digitalisation, regulation changes and the changes in customers'
behaviour and expectations have driven financial organisations into a situation they have …

The wealth and investment management industries are undergoing significant structural
changes due to technological advancements, updated client needs, and regulatory …

The field of behavioural finance points out various investor biases and heuristics which
inhibit optimal investment choices and are sometimes deemed irrational. Although emotions …