(WP 02/04 Clave pdf) The results of our model show that it would be advisable to undertake policies expressly aimed at the process of sustainable technological change in a way that is complementary to the conventional equilibrium oriented environmental policies. In short, the main objectives of...

Do we know if a short selling ban or a Tobin Tax result in more stable asset prices? Or do they in fact make things worse? Just like medicine regulatory measures in financial markets aim at improving an already complex system, cause side effects and interplay with other measures. In this paper...

Chartist and fundamentalist models have proven to be capable of replicating stylized facts on speculative markets. In general, this is achieved by specifying nonlinear interactions of otherwise linear asset price expectations of the respective trader groups. This paper investigates whether or...

Do we know if a short selling ban or a Tobin Tax result in more stable asset prices? Or do they in fact make things worse? Just like medicine regulatory measures in financial markets aim at improving an already complex system, cause side effects and interplay with other measures. In this paper...

Do we know if a short selling ban or a Tobin Tax result in more stable asset prices? Or do they in fact make things worse? Just like medicine regulatory measures in financial markets aim at improving an already complex system, cause side effects and interplay with other measures. In this paper...

In this tongue-in-cheek commentary the author takes a serious look at the problem of translating ethnographic conclusions into simple functions as a means to the end of building an agent-based simulation in the Netlogo language. Specifically, the goal is to take the simple fact that stories...

(WP 20/03 Clave pdf) The study described here aims to make a threefold contribution to the analysis of technology diffusion. It tries to offer a new approach to the study of the dynamic of innovation diffusion, not from the traditional perspective of the rate at which one new technology is fully...

Research indicates that individual investors trade excessively and underperform the market indices, Barber and Odean 2000). The purpose of this paper is to help explain which behavioral biases, if any, can explain this result using a simulation approach. Results indicate that putting too much...