Similar Search Results

The laws of motion of the broker call rate in the United States

Garivaltis, Alex - In: International Journal of Financial Studies 7 (2019) 4, pp. 1-23

) arbitrage theory of corporate liability pricing to study theoretical constraints on the risk premia that could be generated in … the market for call money. Apparently, if there is no arbitrage in the U.S. financial markets, the implication is that the …

Persistent link: https://www.econbiz.de/10013200234

No-arbitrage principle in conic finance

Vazifedan, Mehdi; Zhu, Qiji Jim - In: Risks 8 (2020) 2, pp. 1-34

In a one price economy, the Fundamental Theorem of Asset Pricing (FTAP) establishes that no-arbitrage is equivalent to … the hyperplane that separates the attainable gain subspace and the convex cone representing arbitrage opportunities … anymore. We use convex optimization, and the conic property of this region to characterize the "no-arbitrage" principle in …

Persistent link: https://www.econbiz.de/10013200599

Evolutionary dynamics of gig economy labor strategies under technology, policy and market influence

Hu, Kevin; Fu, Feng - In: Games 12 (2021) 2, pp. 1-31

The emergence of the modern gig economy introduces a new set of employment considerations for firms and laborers that include various trade-offs. With a game-theoretical approach, we examine the influences of technology, policy and markets on firm and worker preferences for gig labor....

Persistent link: https://www.econbiz.de/10013200111

SEA presidential address: Group connectivity and cooperation

Urbano, Amparo - In: SERIEs - Journal of the Spanish Economic Association 2 (2011) 2, pp. 139-158

A model-free methodology is used for the first time to estimate a daily volatility index (VIBEX-NEW) for the Spanish financial market.We use a public data set of daily option prices to compute this index and showthat daily changes in VIBEXNEW display a negative, tight contemporaneous...

Persistent link: https://www.econbiz.de/10010317133

Orders of limits for stationary distributions, stochastic dominance, and stochastic stability

Sandholm, William H. - In: Theoretical Economics 5 (2010) 1, pp. 1-26

A population of agents recurrently plays a two-strategy population game. When an agent receives a revision opportunity, he chooses a new strategy using a noisy best response rule that satisfies mild regularity conditions; best response with mutations, logit choice, and probit choice are all...

Persistent link: https://www.econbiz.de/10011599421

Survival of dominated strategies under evolutionary dynamics

Sandholm, William H.; Hofbauer, Josef - In: Theoretical Economics 6 (2011) 3, pp. 341-377

We prove that any deterministic evolutionary dynamic satisfying four mild requirements fails to eliminate strictly dominated strategies in some games. We also show that existing elimination results for evolutionary dynamics are not robust to small changes in the specifications of the dynamics....

Persistent link: https://www.econbiz.de/10011599449

Refined best reply correspondence and dynamics

Kuzmics, Christoph; Balkenborg, Dieter; Hofbauer, Josef - In: Theoretical Economics 8 (2013) 1, pp. 165-192

We call a correspondence, defined on the set of mixed strategy pro les, a generalized best reply correspondence if it (1) has a product structure, (2) is upper hemi-continuous, (3) always includes a best reply to any mixed strategy pro le, and (4) is convex- and closed-valued. For each...

Persistent link: https://www.econbiz.de/10011599479

Large deviations and stochastic stability in the small noise double limit

Sandholm, William H.; Staudigl, Mathias - In: Theoretical Economics 11 (2016) 1, pp. 279-355

We consider a model of stochastic evolution under general noisy best response protocols, allowing the probabilities of suboptimal choices to depend on their payoff consequences. Our analysis focuses on behavior in the small noise double limit: we first take the noise level in agents' decisions...

Persistent link: https://www.econbiz.de/10011599570

Reversing the rural race to the bottom: an evolutionary model of neo-endogenous rural development

Petrick, Martin - In: European Review of Agricultural Economics 40 (2013) 4, pp. 707-735

The article contributes to the understanding of neo-endogenous rural development from the perspective of evolutionary game theory. Rural development is modelled as the increasing realisation over time of gains from interaction by rural stakeholders. The model exhibits two dynamically stable...

Persistent link: https://www.econbiz.de/10011614391

Social context and the spread of HIV: An evolutionary game-theoretic investigation on the impacts of social stigma on epidemic outcomes

Ferguson, William D.; Nguyen, Trang Kieu - In: Economies 2 (2014) 3, pp. 171-192

We provide a theoretical foundation for analyzing how social stigma and adopted behavioral traits affect the transmission of HIV across a population. We combine an evolutionary game-theoretic model-based on a relationship signaling stage game-with the SIR (susceptible-infected-recovered) model...

Persistent link: https://www.econbiz.de/10011708697