"What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide? This book...

Tests of excessive volatility along the lines of Shiller (1981) and Leroy and Porter (1981) count among the most convincing pieces of evidence against the validity of the time-honored efficient market hypothesis. Recently, using Shiller’s distinction between ex-ante rational (fundamental)...

The present study is on the five cryptocurrency daily mean return time series linearity dynamics during the Covid-19 period. These cryptocurrencies were chosen based on their influence on the market, primarily driven by its market capitalisation. Tether is included as the most important stable...

In this paper we want to give possible answers to questions such as: What is art? How is art related to society? How does art develop? We consider art not as static, but as dynamic and complex, it permanently changes, interpretations of artworks permanently (re-)emerge, new artworks emerge, etc....

Investors pay a substantial premium to hedge against fluctuations in volatility—the variance risk premium (VRP). The asset-pricing literature has presented numerous models with jumps in economic fundamentals to reproduce the properties and the time variation of the VRP. This paper shows that...