This paper studies market selection in an Arrow-Debreu economy with complete markets where agents learn over misspecified models. Under model misspecification, standard Bayesian learning loses its formal justification and biased learning processes may provide a selection advantage. Given the...

Real options models consider an investment project where the economic environment is uncertain. The uncertainty is integrated through stochastic processes to model the evolution of underlying variables that determine the value of an investment opportunity. Establishing the uniqueness of the...

This paper presents a novel take on the effect of uncertainty on investor learning about managerial skills by examining the fund flow-performance relationship in ESG rated funds in the context of climate uncertainty. Utilizing a large sample of mutual funds domiciled in Australia and New Zealand...

Financial literacy (FL) represents a persons ability to turn assets into income, and understanding digital currencies has been added to the modern definition. FL can be predicted by exploiting unlabelled recorded data in financial networks via semi supervised learning (SSL). Measuring and...

I introduce a dynamic model of learning and random meetings between a long-lived agent with unknown ability and heterogeneous projects with observable qualities. The outcomes of the agent's matches with the projects determine her posterior belief about her ability (i.e., her reputation). In a...

This paper proposes a new framework for analyzing the sentiments of central bank narratives. Specifically, we fine-tune a pre-trained BERT model on a dataset of manually annotated sentences on monetary policy stance. We derive a deep learning domain-specific model – BERT central bank sentiment...

We seek to estimate a portfolio of option prices in an entirely data driven way, at any future time, for trading and risk management purposes in a model independent way. We do not know the model driving the dynamics of the actual stock prices, but only observe discretely their evolution in the...

We consider the classical multi-asset Merton investment problem under drift uncertainty, i.e. the asset price dynamics are given by geometric Brownian motions with constant but unknown drift coefficients. The investor assumes a prior drift distribution and is able to learn by observing the asset...

In the current trend, the trend of international cooperation, global integration, equipping students with skills such as: critical thinking, communication, cooperation, social awareness, creative thinking is an urgent problem. This requires an alternative teaching approach to promote active...

This study is a reflection on course design and student learning outcomes in an experiential learning-based development economics course at a university in Australia. Following an intensive period of coursework in development economics, undergraduate students go to a developing country (such as...