Berlin, 24. Dezember 1915: Was tun? Proletarier sind gefallen und Dividenden gestiegen. Die Kriegsgewinne der Unternehmen jetzt nicht zu besteuern, würde den Burgfrieden im Reichstag riskieren. Sie zu besteuern hieße, die Produktion der dringend benötigen Waffen zu gefährden und die...

We test the NBA betting market for efficiency and find that totals lines are significantly biased early each season, yet sides lines do not show a similar bias. While market participants generally force line movements in the correct direction from open to close, they do not fully remove the...

In this note, I describe a simple, but accurate, approximation for the value of a single-name Credit Default Swap (CDS). While it is not difficult to value a single name CDS, it is possible to speed up the valuation process by two or more orders of magnitude with surprisingly little error. The...