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James M. Buchanan

While relatively short, Cost and Choice, according to Hartmut Kliemt in the foreword, “holds quite a central place in Buchanan’s work. For the fundamental economic notion of ‘cost’, or...

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...