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The Dark Side of the Moon: Structured Products from the Customers' Perspective


Hens, Thorsten; Rieger, Marc O (2008). The Dark Side of the Moon: Structured Products from the Customers' Perspective. NCCR FINRISK Working Paper 459, University of Zurich.

Abstract

Structured financial products have gained more and more popularity in recent years, but nevertheless has their success so far not thoroughly been analyzed. In this article we develop a theoretical framework for the design of optimal structured products and analyze the maximal utility gain for an investor that can be achieved by introducing structured products. We demonstrate that most successful structured products are not optimal for a perfectly rational investor and investigate the reasons that make them nevertheless look so attractive for many investors

Abstract

Structured financial products have gained more and more popularity in recent years, but nevertheless has their success so far not thoroughly been analyzed. In this article we develop a theoretical framework for the design of optimal structured products and analyze the maximal utility gain for an investor that can be achieved by introducing structured products. We demonstrate that most successful structured products are not optimal for a perfectly rational investor and investigate the reasons that make them nevertheless look so attractive for many investors

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:2008
Deposited On:05 May 2014 15:57
Last Modified:05 Apr 2016 17:49
Series Name:NCCR FINRISK Working Paper
Official URL:http://www.zora.uzh.ch/95107/
Related URLs:http://www.nccr-finrisk.uzh.ch/wps.php
Other Identification Number:merlin-id:6006

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