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Complexity and Competition, Part I: Sequential Matching

Gale, D.; Sabourian, H. - Faculty of Economics, University of Cambridge - 2003

This paper uses the complexity of non-competitive behaviour to provide a new justification for competitive equilibrium in the context of extensive-form market games with a finite number of agents. This paper demonstrates that if rational agents have (at least at the margin) an aversion for...

Persistent link: https://www.econbiz.de/10005647515

Árjegyzői viselkedés belső kockázatelosztás mellett: Hogyan befolyásolja az árjegyzést az árjegyzők egymás közötti kereskedése?

Havran, Dániel; Szűcs, Balázs Árpád - 2015

Market makers on financial markets often act as competitiors and step into cooperations with each other at the same time. Primarily, they quote prices for investors, thus providing liquidity on the customer market. But they also trade with each other in order to reduce their inventory risk. The...

Persistent link: https://www.econbiz.de/10011444420

A pénzügyi piacok mikrostruktúrája: Mit veszítünk a piaci súrlódásokkal?

Havran, Dániel - 2014

This survey reviews the economic thoughts about what and why do institutional market players lose because of the existing market frictions and particular financial market microstructures compared to walrasian markets. Within a unified microeconomic framework, we introduce the most common...

Persistent link: https://www.econbiz.de/10010494600

Árjegyzői viselkedés belső kockázatelosztás mellett : hogyan befolyásolja az árjegyzést az árjegyzők egymás közötti kereskedése?

Havran, Dániel; Szűcs, Balázs Árpád - 2015

Persistent link: https://www.econbiz.de/10010530069

A pénzügyi piacok mikrostruktúrája : mit veszítünk a piaci súrlódásokkal?

Havran, Dániel - 2014

Persistent link: https://www.econbiz.de/10010402552

Spillovers across U.S. financial markets

Rigobon, Roberto; Sack, Brian - Federal Reserve Board (Board of Governors of the … - 2003

Movements in the prices of different assets are likely to directly influence one another. This paper identifies the contemporaneous interactions between asset prices in U.S. financial markets by relying on the heteroskedasticity in their movements. In particular, we estimate a "structural-form...

Persistent link: https://www.econbiz.de/10005721119

Az állami támogatás hatása a projektfinanszírozásra erkölcsi kockázat és pozitív externáliák mellett Szerződéselméleti megközelítés

Berlinger, Edina; Lovas, Anita; Juhász, Péter - 2014

accordingly the growth prospects of the economy. Most authors agree that state intervention in financing deteriorates the … consideration the positive externalities of the projects too. Several authors investigate different subsidy forms (refundable … three-player model (entrepreneur, bank, state) that under moral hazard and positive externalities state subsidy creates …

Persistent link: https://www.econbiz.de/10010494606

Az állami támogatás hatása a projektfinanszírozásra erkölcsi kockázat és pozitív externáliák mellett Szerződéselméleti megközelítés

Berlinger, Edina; Lovas, Anita; Juhász, Péter - 2014

Persistent link: https://www.econbiz.de/10010429128

Extern hatások a munkapiacon

Oroszi, Sándor - In: Közgazdasági szemle : a magyar Tudományos Akadémia … 43 (1996) 12, pp. 1104-1114

Persistent link: https://www.econbiz.de/10001219617

Addition through Depletion: The Brain Drain as a Catalyst of Human Capital Formation and Economic Betterment

Stark, Oded; Fan, C Simon - Royal Economic Society - RES - 2003

Enabling educated individuals to work abroad entails a brain drain and results in educated unemployment at home. Because the prospect of migration raises the expected returns to higher education it also facilitates a "brain gain": a eveloping economy ends up with a higher fraction of educated...

Persistent link: https://www.econbiz.de/10005577160