We propose a continuum model for the description of buyer and seller dynamics in an Internet market. The relevant variables are the research effort of buyers and the sellers' reputation building process. We show that, if a commercial website gives consumers the possibility to rate credibly...

The investment acceleration principle is a heuristic for modeling investment time series out of consumption time series. The model presented herein develops a disaggregated accelerator equation whose coefficients are the weights of a Kohonen neural net that represents firms' decision-making....

Efforts to simulate turbulence in the financial markets include experiments with the logistic equation: x(t)=kappa x(t-1)[1-x(t-1)], with 0 x(t)1 and 0 = kappa 4. Visual investigation of the logistic equation show the various stability and instability regimes for the various value of the...

Distributions for returns are used to compute the capital charge for portfolios in investment banks. The mainstream definition of returns is based on closing prices and neglects the important effects of intraday trading activity on the losses . In this paper we introduce ''minimal returns'', a...

This paper statistically analyses and attempts to predict the most likely winners of the Euro 2000 football tournament on the basis of the seasonal coefficients of variation (CVs) of the end-of-season points, which were computed from the top division final standings of participating countries of...

(This abstract and the paper are in Turkish.) Ekonomik krizler; herhangi bir mal, hizmet, uretim faktoru veya doviz piyasasindaki fiyat ve/veya miktarlarda, kabul edilebilir bir degisme sinirinin otesinde gerceklesen siddetli dalgalanmalar olarak tanimlanabilir. Soz konusu krizlerin ortaya...

Freeman (1996) formulates a model in which payment arrangements based on intermediated debt that is settled using money can achieve higher welfare than direct money payment achieves. Freeman finds that a monetary authority can sometimes further improve welfare, and achieve efficiency, by...

Estas son las partes cuatro, cinco, seis y siete de una serie que forman una investigación más amplia titulada “La Estrategia de Citicorp en Chile: Un Intento de Investigación”. Aquí se realiza un análisis estratégico del sector financiero en Chile y se muestra un intento de...

This paper assesses financial sector development in Latin America, both in the banking system and in the capital markets. After a brief review of the explanatory factors and the definitions of financial development found in the literature, Latin American countries are classified in groups of...

This paper uses novel data on the performance of pools underlying asset- backed securities to estimate a competing risks model of default and prepayment on subprime automobile loans. We find that prepayment rates increase rapidly with loan age but are not affected by prevailing market interest...