Many dynamic economic situations, including certain markets, can be fruitfully modeled as binary-action stochastic sequential games.  Such games have a state variable, which in the case of a market might be the inventory of the good waiting for sale.  Conditional on the state, players choose...

Until the 1970s, the idea that workers had a right to a job was a subject of lively debate, at least among progressives. The dominance of the neoclassical perspective since that time has all but eliminated discussion of such a right. In this paper, we argue that a Post Keynesian understanding of...

This paper presents a new class of time-deformation (or stochastic volatility) models for stock returns sampled in transaction time and directed by a generalized duration process. Stochastic volatility in this model is driven by an observed duration process and a latent autoregressive process....