The article analyses the real estate market in Ukraine from the point of view of the concept of financial markets on the basis of the dynamics of average prices on housing habitations, profitability and chain indices with the annual lag. It reveals that there is no sufficient basis for the real...

The last decades of the last century were marked by a prodigious development of capital markets phenomena modeling. Mathematical modeling, which proved its utility in the study of natural science, was adapted to the economic sphere in order to increase the degree of accuracy of the results and,...

Проанализирован рынок недвижимости Украины с точки зрения концепции финансовых рынков на основе динамики средних цен на жилье, доходностей и цепных индексов с...

The efficient market hypothesis (EMH) fails as a valid model of financial markets. The fractal market hypothesis (FMH) is a more general alternative way to the EMH. The FMH is formed on the following parameter space: agents' investment horizons. A financial market is more stable when a fractal...

The pleasure of obtaining gains and the pain of incurring losses is a powerful motivating factor determining the trading behaviour of investors. The evaluation of gains and losses is dependent on the reference point. The purpose of this research is fourfold. Firstly, we investigate whether daily...

This paper presents a case study of a well-informed investor in the South Sea bubble. We argue that Hoare's Bank, a fledgling West End London banker, knew that a bubble was in progress and that it invested knowingly in the bubble; it was profitable to "ride the bubble." Using a unique dataset on...

In this study, we attempted to determine whether a relationship exists between stock returns and the weather variables of temperature, humidity, and cloud cover in the Korean stock market. We delineated three key implications with regard to weather effects. First, after the 1997 financial...

We discuss martingales, detrending data, and the efficient market hypothesis (EMH) for stochastic processes x(t) with arbitrary diffusion coefficients D(x,t). Beginning with x-independent drift coefficients R(t) we show that martingale stochastic processes generate uncorrelated, generally...

Groenewold et al. (2004) documented that the Chinese stock market is inefficient. In this paper, we revisit the efficiency problem of the Chinese stock market using time-series model based trading rules. Our paper distinguishes itself from previous studies in several aspects. First, while...

Empirical evidence from time series methods which assume the usual I(0)/I(1) paradigm suggests that the efficient market hypothesis, stating that spot and futures prices of a commodity should cointegrate with a unit slope on futures prices, does not hold. However, these statistical methods are...