Figure 6. Sensitivity of Optimal Hedge Ratios in Response to Time Preference
0.34
0.32
Optimal Hedge Ratio
0.3
0.28
0.26
о 'lr1 -B-Yr2 л 'lr! -X-Yr4 -x-Yr5
0.24
0.1
0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9
β
41
Figure 6. Sensitivity of Optimal Hedge Ratios in Response to Time Preference
0.34
0.32
Optimal Hedge Ratio
0.3
0.28
0.26
о 'lr1 -B-Yr2 л 'lr! -X-Yr4 -x-Yr5
0.24
0.1
0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9
β
41