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Sophisticated gambler’s ruin and survival chances
Mehta, Salil - Volkswirtschaftliche Fakultät, … - 2013
This note explores the mathematical theory to solve modern gambler’s ruin problems. We establish a ruin framework and solve for the probability of bankruptcy. We also show how this relates to the expected time to bankruptcy and review the risk neutral probabilities associated an adjustment to...
Persistent link: https://www.econbiz.de/10011107373
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Major impacts of microfinance on the poor: snapshots from Bangladesh
Mallick, Iftekhar - Volkswirtschaftliche Fakultät, … - 2012
Microfinance has, by now, reached a total of over 60% of all poor households of Bangladesh, and 37% of all households (World Bank, 2005). There are, however some controversies relating to the indebtedness for the microfinance receivers and the contribution of microfinance in their socioeconomic...
Persistent link: https://www.econbiz.de/10011107750
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Introduction to Recent Developments in Alternative Finance: Empirical Assessments and Economic Implications
Barnett, William A.; Jawadi, Fredj - Volkswirtschaftliche Fakultät, … - 2012
This paper is the introduction to the forthcoming book, Recent Developments in Alternative Finance: Empirical … Assessments and Economic Implications, Proceedings of Second International Symposium in Computational Economics and Finance. The … finance. …
Persistent link: https://www.econbiz.de/10011108673
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Theories and Tests for Bubbles
Sirnes, Espen - Volkswirtschaftliche Fakultät, … - 1997
Explains the general theory of stock market bubbles, how it can be tested, and investigates whether there have been bubbles in the Norwegian stock market.
Persistent link: https://www.econbiz.de/10011108685
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Goodness of fit test for the multifractal model of asset returns
Bell, Peter - Volkswirtschaftliche Fakultät, … - 2012
This paper explores extensions to the random walk model for time series in finance. There is some disagreement about …
Persistent link: https://www.econbiz.de/10011108813
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On the substitution of institutions and finance in investment
Asongu, Simplice - Volkswirtschaftliche Fakultät, … - 2014
The Ali (2013, EB) findings on the nexuses among institutions, finance and investment could have an important influence … finance and institutions because they are less realistic to developing countries to which the resulting policy implications … substitution of institutions and finance in investment. Results under many baseline and augmented scenarios are not consistent with …
Persistent link: https://www.econbiz.de/10011108883
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Financial Capital Overaccumulation
Hsu, Sara - Volkswirtschaftliche Fakultät, … - 2012
Overaccumulation of financial capital at the expense of the real sector resulted in falling wages as well as in the most recent global financial crisis. This is a topic of increasing interest, as the idea that some developed economies have reached a stage of overfinancialization has gained some...
Persistent link: https://www.econbiz.de/10011108924
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Survey of Literature on Portfolio Theory
Cantillo, Andres - Volkswirtschaftliche Fakultät, … - 2013
The logical derivation of the two-factors model (The CAPM) is not empirically testable. This has paved the way for new treatments of asset pricing. However, the deterministic approach taken by most economists has prevented them to create a more useful treatment to the problems of asset pricing...
Persistent link: https://www.econbiz.de/10011109251
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Understanding Islam: Development, Economics and Finance
Askari, Hossein; Iqbal, Zamir; Krichene, Noureddine; … - Volkswirtschaftliche Fakultät, … - 2013
In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...
Persistent link: https://www.econbiz.de/10011110896
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On the pseudo-equilibrium manifold in semi-algebraic economies with real financial assets
Arias-R., Omar Fdo. - Volkswirtschaftliche Fakultät, … - 2014
The aim of this paper is to prove that if the consumption set of an economy with incomplete financial markets is semi-algebraic, then the corresponding pseudo-equilibrium manifold is also semi-algebraic. For this, we proceed by constructing an incomplete financial economy with real assets and...
Persistent link: https://www.econbiz.de/10011111134