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The Pricing of Event Risks with Parameter Uncertainty

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NBER2001-02-01 更新2025-01-04 收录
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Financial instruments whose payoffs are linked to exogenous events, such as the occurrence of a natural catastrophe or an unusual weather pattern depend crucially on actuarial models for determining event (e.g., default) probabilities. In many instances, investors appear to receive premiums far in

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2001-02-01
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