. " change of numeraire" . . "Management of Extreme Financial Events"@en . . "option pricing, pricing symmetry, extreme financial events, change of numeraire,"@en . "0"^^ . . "2013-02-01+01:00"^^ . "Tento grantov\u00FD projekt navrhuje studovat extr\u00E9mn\u00ED finan\u010Dn\u00ED ud\u00E1losti pomoc\u00ED opce, kter\u00E1 nemus\u00ED existovat na trhu, ale jej\u00ED\u017E cena a zaji\u0161t\u011Bn\u00ED se d\u00E1 vypo\u010D\u00EDtat pomoc\u00ED principu neexistence bezrizikov\u00FDch mo\u017Enost\u00ED zisku na trhu. T\u00EDmto zp\u016Fsobem je mo\u017En\u00E9 ur\u010Dit jak\u00FD finan\u010Dn\u00ED efekt bude m\u00EDt dan\u00E1 ud\u00E1lost pro individu\u00E1ln\u00EDho investora, \u010Di pro ekonomiku obecn\u011B, a zda je mo\u017En\u00E9 se takov\u00E9 ud\u00E1losti vyhnout pat\u0159i\u010Dnou reakc\u00ED \u010Di zaji\u0161t\u011Bn\u00EDm v prim\u00E1rn\u00EDch aktivech. Lep\u0161\u00ED pochopen\u00ED t\u011Bchto n\u00E1klad\u016F m\u016F\u017Ee v\u00E9st k minimalizaci budouc\u00EDch finan\u010Dn\u00EDch kriz\u00ED. Nav\u00EDc je mo\u017En\u00E9 propojit pomoc\u00ED symetrick\u00E9 transformace referen\u010Dn\u00EDho aktiva indik\u00E1tory finan\u010Dn\u00EDch kriz\u00ED, jako je drawdown, s cenou existuj\u00EDc\u00EDch likvidn\u00EDch kontrakt\u016F typu evropsk\u00FDch opc\u00ED." . "0"^^ . "2014-03-31+02:00"^^ . "2015-12-31+01:00"^^ . . "1"^^ . . "This proposal suggests to study extreme financial events by relating such an event to a contingent claim that may not exist in the market, but whose price and possibly a hedge can be found using the no arbitrage principle. In this way we can determine how costly a particular event is for an individual investor, or for the economy in general, and how to avoid a potential catastrophic loss by taking proper actions or what hedging positions should be taken in the underlying assets. Better understanding of such costs may help to minimize future financial crises. Furthermore, some market indicators of the market crash, such as the drawdown, can be linked to more basic contracts, such as European options using the methods of a symmetric change of numeraire."@en . "0"^^ . "0"^^ . . . . "http://www.isvav.cz/projectDetail.do?rowId=GA13-34480S"^^ . . "2015-04-23+02:00"^^ . . "GA13-34480S" . . . "option pricing" . . . . " pricing symmetry" . . "Management extr\u00E9mn\u00EDch finan\u010Dn\u00EDch jev\u016F" . " extreme financial events" .