“...Although there has been much attention in recent years on the effects of additive background risks, the same is not true for its multiplicative counterpart. We...”

“...When making investment decisions, one will face not only the risk of financial assets within portfolio but also background risk. This paper discusses an...”

“...Developing techniques for assessing various risks and calculating probabilities of ruin and survival are exciting topics for mathematically-inclined academics...”

“...This paper investigates the impact of background risk on an investor’s portfolio choice in a mean–variance framework, and analyzes the properties of efficient...”

“...In real life, investors face background risk which may affect their portfolio selection decision. In addition, there are situations where background asset...”

“...This paper characterizes the stochastic deterioration resulting from taking a zero-mean financial risk in the presence of correlated non-financial background...”

“...•An uncertain mean-variance model with background risk is proposed to address the uncertain portfolio with background risk where returns are treated as...”

“...In this paper, the effect of posibilistic or mixed background risk on the level of optimal prevention is studied. In the framework of five purely possibilistic...”

“...In most exiting portfolio selection models, security returns are assumed to have random or fuzzy distributions. However, uncertainties exist in actual...”

“...We examine the demand for a risky asset in the presence of two risks: a financial risk and a background risk which need not be financial. First, we compute the...”