Verl.Beschr.: Das Finanzmagazin Forbes nannte Charles MacKays Werk das ?wichtigste Buch, das je über Investments geschrieben worden ist?. Der Leser erfährt authentisch und äusserst unterhaltsam alles über den Tulpenwahn in Holland von 1634 bis 1637, John Laws grosses Mississippi-Projekt von...

There has been a long debate about whether speculators are stabilizing or not. We consider a model where speculators have a stabilizing role in normal times, but may also provoke large risk panics. The very feature that makes arbitrageurs liquidity providers in normal times, namely their...

There has been a long debate about whether speculators are stabilizing or not. We consider a model where speculators have a stabilizing role in normal times, but may also provoke large risk panics. The very feature that makes arbitrageurs liquidity providers in normal times, namely their...