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Hedging of illiquid financial instruments is carried out with liquid instruments that, as a rule, have simpler payoff functions. For example, hedging of Asian or long-dated put options is carried out with vanilla puts, hedging of Bermuda swaptions is done with vanilla swaptions, etc. This kind...
Persistent link: https://www.econbiz.de/10013000625
get involved in new activities within the research, application and pedagogical areas. In particular social networks and …
Persistent link: https://www.econbiz.de/10012938646
Zimbabwe like many other developing nations has energy supply that is less than energy demand. This entails prioritization and increased prices economically, however as energy is a basic need, a different approach is called for. The goal of human development needs to be achieved, which has seen...
Persistent link: https://www.econbiz.de/10014147363
matter of course that economics should become a natural science. Such a characterization misses an essential aspect of a …
Persistent link: https://www.econbiz.de/10011700543
This paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and … the natural sciences. I found that my effort at using natural science methods in economics was met with little … understanding and often considerable hostility. I found economics to be driven less by common sense and empirical evidence, than by …
Persistent link: https://www.econbiz.de/10013132146
This paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and … the natural sciences. I found that my effort at using natural science methods in economics was met with little … understanding and often considerable hostility. I found economics to be driven less by common sense and empirical evidence, than by …
Persistent link: https://www.econbiz.de/10013132411
The economic molecule structure is an alternative multidimensional graphical and analytical tool to study the GDP behavior of any country. The construction of the economic molecule structure depends in the uses of multidimensional graphs and prototypes. We are considered that each variable into...
Persistent link: https://www.econbiz.de/10013151950
Classical virtue theory has received limited attention in economics. The paper demonstrates its fruitfulness for … economic and legal analysis by linking the traditional ethical literature with modern law and economics. Virtues are … economics. It is found that the virtue factor has major significance in economic life.The paper also outlines a general …
Persistent link: https://www.econbiz.de/10012906943
happened to political economy ever since, and how far economics has diverged from Robbins' agenda. Our main claim is that these … topics appeared on the second edition of the Essay because Robbins saw them as fundamental if economics (as a science) were … to mimic the methods of the natural sciences by preserving the human element that makes economics a social science …
Persistent link: https://www.econbiz.de/10012917194
In educating economists, we should sacrifice some of the more technical aspects of economics (which can be learned … these interdisciplinary studies are given here. In the discussion of the place of mathematics in economics, fuzziness enters … economics, are regarded as a "soft" technology compared with the "hard" technology of the natural sciences, development studies …
Persistent link: https://www.econbiz.de/10013213711