The Least-Squares Monte Carlo model (LSM model) has emerged as the derivative valuation technique with the greatest impact in current practice. As with other options valuation models, the LSM algorithm was initially posited in the field of financial derivatives and its extension to the realm of...

The article is essentially a book-review of Professor Vijay Joshi's recent work, '"India's Long Road: The Search for Prosperity". In this critical essay, I take a slightly revisionist approach when it comes to a 'typical'book review. For example, the length of this article goes well-beyond the...

This extended abstract shows the importance of human intuition in the context of creating new knowledge. In particular, inspirational intuition plays an important role. In contrast to Daniel Kahneman's fast, intuitive and routine decision-making in terms of a System 1 (Kahneman 2011, pp. 19...

Among leftists, predicting the end of capitalism is a favorite parlor game. For example, as a graduate student in the 2010s, I remember discovering the 1976 edition of Marx’s Capital and being struck by the introduction. Written by the Belgian Marxist Ernest Mandel, the foreword concluded that...

We use credit reports, survey data, and two natural experiments that increase health insurance coverage—Medicare eligibility and the Affordable Care Act's Under 26 provision—to study the financial protection provided by health insurance.