Incremental Risk Vulnerability1
Guenter Franke2 , Richard C. Stapleton 3 and Marti G Subrahmanyam 4
September 23, 2005
1 We are very much indebted to two unknown referees for their excellent comments. Section 3
has been added based on very detailed comments of one referee.
2Fakultat für Wirtschaftswissenschaften und Statistik, University of Konstanz, email:
[email protected]
3University of Manchester and University of Melbourne, email
4Stern School of Business, New York University, email: [email protected]