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On a kinetic model for a simple market economy

Cordier, Stéphane; Pareschi, Lorenzo; Toscani, Giuseppe - HAL - 2004

In this paper, we consider a simple kinetic model of economy involving both exchanges between agents and speculative trading. We show that the kinetic model admits non trivial quasi-stationary states with power law tails of Pareto type. In order to do this we consider a suitable asymptotic limit...

Persistent link: https://www.econbiz.de/10008793847

Are derivatives dangerous?

Capelle-Blancard, Gunther - HAL - 2010

Since the 1970s, the financial system has undergone deep structural changes. Innovation has been a key driver of these changes and most economists acknowledge that the impact has been positive overall. However, each time a financial crisis arises, the debate is on. Derivatives especially, which...

Persistent link: https://www.econbiz.de/10010605339

The Environmental Violence of Volatility

Bouleau, Nicolas - HAL - 2013

Since the Brundtland report in 1987, at the start of the series of United Nations Conferences on the Environment and Development, the world population has grown by more than it was in the time of Adam Smith. Oil consumption has increased by 40% and the trend is similar for other exhaustible...

Persistent link: https://www.econbiz.de/10010739123

Comparative Advantage and Uncertainty Bearing

Méra, Xavier - HAL - 2013

The law of association as espoused by David Ricardo and generalized by Ludwig von Mises cannot directly convey what is at stake in exchanges involving specialization in uncertainty bearing. In this article we explain why the entrepreneurial function as conceptualized by Frank Knight and Mises...

Persistent link: https://www.econbiz.de/10010674276

Credit Default Swaps, Contract Theory, Public Debt, and Fiat Money Regimes: Comment on Polleit and Mariano

Méra, Xavier - HAL - 2013

correct in pointing out that speculation with CDS can conceivably hurt the borrowers' interests, they fail to grasp that this …

Persistent link: https://www.econbiz.de/10010820940

A discussion of stock market speculation by Pierre-Joseph Proudhon

Juhel, Jean-Claude; Dufour, Dominique - HAL - 2008

-Joseph Proudhon (1809-1865) in relation to the causes and effects of Stock market speculation. It is based upon the works of this …'s thought in relation to speculation. It is divided into two parts. The first part is dedicated to Pierre-Joseph Proudhon …'s definitions of stock market speculation or gambling with shares that for him served no purpose either from a human or economic …

Persistent link: https://www.econbiz.de/10008791994

Disagreement-Based Trading and Speculation: Implications for Financial Regulation and Economic Theory

Biondi, Yuri - HAL - 2011

discusses the legal-economic framework of speculation and its recent transformation, making reference to the case of derivatives … model of trade (and speculation) based on disagreement, advocating further developments that take into account market …

Persistent link: https://www.econbiz.de/10008835378