Fabian Krüger

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The pricing kernel puzzle concerns the locally increasing empirical pricing kernel, which is inconsistent with a risk-averse representative investor in a single period, single state variable setting. Some recent papers worry that the puzzle is caused simply by the mismatch of backward looking subjective and forward looking risk-neutral distributions of(More)
Acknowledgements During the time of writing this thesis I received support and encouragement from many people. Without their help the completion of this work would not have been possible. Therefore, I would like to express my sincere gratitude to everyone who helped and guided me in this journey. First I would like to thank my supervisor Prof. Ralf(More)
Acknowledgement This doctoral dissertation has been written at the Department of Economics at the University of Konstanz. I am indebted to my supervisor Prof. Dr. Winfried Pohlmeier for his continuous support of my work and his professional advice and guidance. I wish to express my thanks to Prof. Dr. Axel Kind who agreed to serve as the second supervisor(More)
Acknowledgement I am deeply indebted to my advisor Friedrich Breyer. He has been a true mentor for me since the second year of my undergraduate studies and supported and advised me throughout all the years. He has crucially influenced my way of thinking about economic questions. I also owe special thanks to my second advisor Leo Kaas. He has generously(More)
Proofs subject to correction. Not to be reproduced without permission. Contributions to the discussion must not exceed 400 words. Contributions longer than 400 words will be cut by the editor. Summary. In the practice of point prediction, it is desirable that forecasters receive a directive in the form of a statistical functional. For example, forecasters(More)
rungspotenziale in den Teilprozessen liegen. In diesem Artikel soll daher eine andere (objektive) Datenquelle verwendet wer-den, um die tatsächliche Nutzung in Industrieunternehmen zu bestimmen. Es handelt sich dabei um eine Datenbank mit 77 toolbasierten Systemanalysen, die mit der RBE-Methode [3] durchgeführt wurden. So ist sichergestellt, dass alle(More)