Accounting for stock options

Risk analysis


In 1975, Allen Kneese and Charles Schultze wrote a wise and prophetic book entitled Pollution, Prices, and Public Policy.1 In it they argue for using market-based approaches to achieve environmental goals. In passing, they discuss why such structurally sensible approaches often have difficulty gaining political support. Their answer, in part, is that the political process tends to concentrate too much on what is to be accomplished and not enough on how to accomplish it.


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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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