Optimism bias and its impact on cyber risk management decisions
2025
This study explores how optimism bias influences decision-making in cyber risk management by developing a novel model that reflects utility loss aversion, a factor previously unexplored in this context....
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Infinite-mean models in risk management: Discussions and recent advances
2025
In statistical analysis, many classic results require the assumption that models have finite mean or variance, including the most standard versions of the laws of large numbers and the central limit...
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High price impact trade identification and its implication for volatility and price efficiency
2025
We include limit order book (LOB) matchedness as a new trade attribute to identify high price impact trades (HPITs). HPITs are trades associated with large price changes relative to their volume proportion....
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Artificial intelligence and uncertainty
2025
Artificial intelligence (AI) has both capabilities and limitations in managing uncertainty, particularly in handling average cases versus extreme outliers. AI excels at analyzing large datasets and...
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Equal compensations under actuarially fair contributions in endowment contingency funds
2025
This paper considers risk-sharing schemes, aiming to demonstrate that it is possible to enforce equal compensations by charging actuarially fair contributions. Specifically, consider a group of individuals...
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Valuing mortality risk reductions in the time of COVID-19: A stated-preference analysis
2025
Lack of high-quality value per statistical life (VSL) studies in low- and middle-income countries have been recognized by scholars and analysts in the benefit-cost analysis field for decades. However,...
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Strategic timing of corporate social responsibility investments under reputational risk
2025
We analyze a company’s corporate social responsibility (CSR) investments from a real option perspective to determine the value of the CSR investments and the optimal time to invest in CSR, taking into...
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