Based on a classical financial market model different model variants known from the literature are discussed and analyzed, each focussing on modeling financial markets as a nonlinear dynamic system by introducing the formation of (heterogeneous) beliefs about future asset prices into the model...

This dissertation contains applications of agent-based financial market models and nonlinear econometric methods in financial economics. The first part deals with the analysis of the effectiveness of currency transaction taxes within financial market models with traders with heterogeneous...

The efficient market hypothesis (EMH) is tested in the case of the AthensStock Exchange (ASE) after the introduction of the euro. The underlyingassumption is that stock prices would be more transparent; their performanceeasier to compare; the exchange rate risk eliminated and as a result we...

Both market advisors and researchers have often suggested multiyear rollover hedging as a way to increase producer returns. This study determines whether rollover hedging can increase expected returns for producers. For rollover hedging to increase expected returns, futures prices must follow a...

The present thesis consists of seven papers specifying and analysing models of direct-interactions-driven collective economic phenomena. Within theories and models of coordination in large decentralized market economies (and analogously also within theories and models of coordination in natural...

Using long-span data on the dollar-sterling and dollar-franc real exchange rates over the past two centuries, we apply the findings of various strands of the recent literature in order to examine the statistical and economic significance of the Harrod-Balassa-Samuelson effect (the effect of...

Within a macroeconomic disequilibrium model it turns out that stationary and simple adaptive policies are not capable of stabilizing efficient steady states and lead to periodic or irregular fluctuations for large sets of policy parameters. The application of recent control methods for chaotic...

The rise of ecosystem management as an approach to renewable resource policy increases the demand for empirical bioeconomics. This paper provides a working definition of bioeconometrics and a taxonomy of model types. A bioeconometric model is a structural model that econometrically estimates one...