understanding of pricing as such, and to Land’s claim that risk-bearing vehicles and agencies tend to corrode the inherited social …’s understanding of the fundamental logic of derivatives with Jonathan Nitzan and Shimshon Bichler’s account of capital as power. Such … Bichler’s understanding of capital qua absentee ownership, with its primary ordering mechanism of differential accumulation …

In some key respects the income versus consumption tax choice is simply misunderstood by many people, including …

elements of credit risk management and important to prudential oversight. As illustrated in this paper, valuation feeds into …

This note shows that, with pre-set price and capital decisions of firms facing uncertainty and financial market … imperfections, price, mark up and the expected degree of capacity utilization (resp. capital) decreases (resp. increases) with the …

The use of collateral has become one of the most widespread risk mitigation techniques. While it brings stabilizing … effects to the individual lender we argue that it may exacerbate systemic risk through margin call activation. We show how a …