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This paper asks why modern finance theory and the efficient market hypothesis have failed to explain long-term carry … Profits, 2010) and the Theory of the Monetary Circuit to give a mathematical representation of Minsky's Financial Instability …
Persistent link: https://www.econbiz.de/10010309299
Die langfristigen Klimaschutzziele sehen bis zum Jahr 2020 im Vergleich zu 2008 eine Senkung des Primärenergieverbrauchs um 20% vor, bis zum Jahr 2050 wird eine Senkung um 50% angestrebt. Zur Erreichung dieser Ziele stehen zunehmend Maßnahmen zur Steigerung nachfrageseitiger Energieeffizienz...
Persistent link: https://www.econbiz.de/10010309486
The BoltzmannGibbs distribution is currently widely used in economic modeling. One of the applications is integrated with the DSGE (Dynamic Stochastic General Equilibrium) model. However, a question that arises concerns whether the BoltzmannGibbs distribution can be directly applied, without...
Persistent link: https://www.econbiz.de/10010309601
This article explores the influence of competitive conditions on the evolutionary fitness of different risk preferences. As a practical example, the professional competition between fund managers is considered. To explore how different settings of competition parameters, the exclusion rate and...
Persistent link: https://www.econbiz.de/10010309602
The paper explores utility measures by combining experiments with mathematical derivations in the psychophysics paradigm. The analysis on the ultimatum game experiment reveals evidences for the utility threshold and thus supports Bernoulli's utility logarithmic law. Both experimental results and...
Persistent link: https://www.econbiz.de/10010309604
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even if debt is a recurring topic in discussions about the current economic situation, economic modeling does not take into account debt as one of the crucial determinants of...
Persistent link: https://www.econbiz.de/10010309605
This paper analyzes the effect of skill heterogeneity on regional patterns of production and housing in the presence of pecuniary externalities within a general-equilibrium framework, assuming monopolistic competition in intermediate goods markets. It shows that the interplay of heterogeneous...
Persistent link: https://www.econbiz.de/10010309608
Funding developing countries' climate policies after Cancun (COP16) has a dual goal: firstly, to support mitigation of developing countries in order to sustain the two-degree pathway of stabilising the global mean temperature; secondly, to empower the vulnerable countries in low-income regions to...
Persistent link: https://www.econbiz.de/10010309610
A migration network is modeled as a mutually beneficial cooperative agreement between financially-constrained individuals who seek to finance and expedite their migration. The cooperation agreement creates a network: established migrants contract to support the subsequent migration of others in...
Persistent link: https://www.econbiz.de/10010309611
-proposing deferred acceptance mechanism (DA) has played a central role not only in theory but also in important practical applications …-proposing deferred acceptance-Mechanismus (DA) spielt eine zentrale Rolle nicht nur in der Theorie sondern auch in wichtigen praktischen …
Persistent link: https://www.econbiz.de/10010309612