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Persistent link: https://www.econbiz.de/10012506141
Luigi Einaudi made an outstanding contribution to economics during his long career as economist, historian and policy-maker. This book makes an important selection of his works available in English for the first time. Topics covered include: taxation of consumption rather than income; European...
Persistent link: https://www.econbiz.de/10012054101
Interest in economics is at an all-time high. Americans are debating the proper role of the government in company bailouts the effectiveness of tax cuts versus increased government spending to stimulate the economy, & potential effects of deflation
Persistent link: https://www.econbiz.de/10013207744
monetary hegemony of the United States: power of high finance, reign of the dollar and global chaos -- Chapter 3. Europe …
Persistent link: https://www.econbiz.de/10013349747
Practical portfolio investment problems under uncertainty can be modeled well as multiperiod stochastic programs. However, the numerical optimization methods that need to be used to solve such models seriously limit the level of detail in the uncertainty about future asset prices and returns...
Persistent link: https://www.econbiz.de/10009218373
In their paper "Behavioral Finance and Post Keynesian-Institutionalist Theories of Financial Markets," Raines and … those theories are both confirmed by actual events and supported by some findings in behavioral finance. The current paper … comments on their discussion and explores the potential contributions of behavioral finance to future developments of Post …
Persistent link: https://www.econbiz.de/10009353100
We present a theory and experimental evidence on pricing and portfolio choices under asymmetric reasoning. We show that under asymmetric reasoning, prices do not reflect all (types of) reasoning. Some agents who observe prices that cannot be reconciled with their reasoning switch from perceiving...
Persistent link: https://www.econbiz.de/10010789919
Faced with the problem of pricing complex contingent claims, an investor seeks to make his valuations robust to model uncertainty. We construct a notion of a model- uncertainty-induced utility function and show that model uncertainty increases the investor's eff ective risk aversion. Using the...
Persistent link: https://www.econbiz.de/10010722654
Purpose– The purpose of this paper is to explore the price implication of a newly developed estimator of the bid-ask spread by Corwin and Schultz (2012). The paper focusses on whether the new measure as a liquidity proxy commands a significant premium. The research helps the understanding on...
Persistent link: https://www.econbiz.de/10010891202
Faced with the problem of pricing complex contingent claims, an investor seeks to make his valuations robust to model uncertainty. We construct a notion of a model- uncertainty-induced utility function and show that model uncertainty increases the investor's effective risk aversion. Using the...
Persistent link: https://www.econbiz.de/10010896992