Pricing kernels implicit in option prices play a key role in assessing the risk aversion over equity returns. We deal with nonparametric estimation of the pricing kernel (PK) given by the ratio of the riskneutral density estimator and the historical density (HD). The former density can be represented as the second derivative w.r.t. the European call option price function, which we estimate by…

Race is often defined by its reference to biology, blood, genes, nature or essence. Yet these concepts are often left unexamined. Integrating material from the history of science, science studies, and anthropological studies of kinship and new reproductive technologies, as well as from studies of race, Peter Wade explores the meaning of such terms and interrogates the relationship between natur…