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Jeffrey A. Miron

Libertarian principles seem basic enough—keep government out of boardrooms, bedrooms, and wallets, and let markets work the way they should. But what reasoning justifies these stances, and how can...

Francis X. Diebold , Neil A. Doherty , Richard J. Herring

A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or...