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The Financial Accounting Standards Board (FASB) (2010) proposes that all financial instruments be measured at fair value in the financial statements. This commentary provides one Board member's reason...
We contrast Arbitrage Pricing Theory (APT), the theoretical basis for the development of nancial instruments, with a dynamical picture of an interacting market, in a simple setting. The proliferation...
Fisheries are an important economic sector in the EU subject to an important restructuring in the most recent years. The Financial Instrument for Fisheries Guidance (FIFG) has been the tool deployed b...
We present a novel approach to the pricing of financial instruments in emission markets, for example, the EU ETS. The proposed hybrid model is positioned between existing complex full equilibrium mode...

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