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A Methodological Case Study on the Theory of Demand

Müller, Olaf L. - 2005

My philosophical case study concerns textbook presentations of the theory of demand. Does this theory contain anything …. But then, the theory implies false factual claims. We can avoid this result by embracing the theory’s normative character … of physics by Oliver Timmer. Applying his ideas to the theory of demand reveals that the statements of this discipline …

Persistent link: https://www.econbiz.de/10009467037

Pourquoi et comment l’instabilité est-elle une caractéristique structurelle des marchés agricoles?

Boussard, Jean-Marc - 2007

Agricultural price volatility is "bad". But where does it come from? Remedies are completely different for "endogenous" or "exogenous" fluctuations. The recent crisis seems to indicate that exogenous remedies have been applied to endogenous fluctuations.

Persistent link: https://www.econbiz.de/10009445748

Formation and dispersion of expectations : an empirical analysis with special focus on inﬂation

Jonas Dovern - 2009

This thesis is a collection of papers that use survey data to analyze expectations about macroeconomic variables and the way these expectations are formed. Using a new approach for modeling forecast errors in a structural way, we show that most of the individual forecasts in the Consensus survey...

Persistent link: https://www.econbiz.de/10009429015

Sensitivity of Investor Reaction to Market Direction and Volatility: The Case of Dividend Change Announcements

Koch, Paul D.; Docking, Diane Scott - 2004

This study examines whether investor reactions are sensitive to the recent direction and/orvolatility of underlying market movements. We find dividend change announcements elicit agreater change in stock price when the nature of the news (good or bad) goes against the grain ofthe recent market...

Persistent link: https://www.econbiz.de/10009430932

The behavioral economics of foreign exchange markets - a psychological view on human expectation formation in foreign exchange markets

Schmidt, Robert - 2004

heading of bounded rationality. Central to the concept of bounded rationality is the assumption that humans’ actual behavior … deviates from the ideal of economic rationality due to at least two reasons: first, decisions are usually based on an … explaining exchange rate movements. The asset market theory of exchange rate determination implies that exchange rates are mainly …

Persistent link: https://www.econbiz.de/10009433679

Bubble geometry and chaotic pricing behaviour

Eves, Chris; Wright, Christopher; Jefferies, Rod - 2008

This paper is a deductive theoretical enquiry into the flow of effects from the geometry of price bubbles/busts, to price indices, to pricing behaviours of sellers and buyers, and back to price bubbles/busts. The intent of the analysis is to suggest analytical approaches to identify the...

Persistent link: https://www.econbiz.de/10009437953

Learning in linear models with expectational leads

Wenzelburger, Jan - 2002

This paper provides an adaptive learning algorithm for linear stochastic models with expectational leads in which forecasts for an arbitrary period ahead of the current state feed back into the economic system. The concept of an unbiased forecasting rule with generates rational expectations...

Persistent link: https://www.econbiz.de/10009452462

The impact of multiperiod planning horizons on portfolios and asset prices in a dynamic CAPM

Hillebrand, Marten; Wenzelburger, Jan - 2005

determining market clearing prices is calculated explicitly. The classical capital market line result of CAPM theory is extended …

Persistent link: https://www.econbiz.de/10009452468

On the role of equity for the dynamics of capital accumulation

Böhm, Volker; Kikuchi, Tomoo; Vachadze, George - 2006

The standard overlapping generations model is extended to include retradeable paper assets (shares) of firms. Two period lived consumers hold portfolios including paper assets and capital in order to transfer wealth over time. An infinitely lived firm produces a stochastic output using a...

Persistent link: https://www.econbiz.de/10009452519

Immediate Disclosure or Secrecy? The Release of Information in Experimental Asset Markets

Ackert, Lucy; Church, Bryan K.; Gillette, Ann B. - 2004

This paper reports the results of experimental asset markets designed to investigate how the public disclosure of uncertain information affects market and individual outcomes. In some markets, no information is released as trading starts, and in others, an imperfect pre-announcement is...

Persistent link: https://www.econbiz.de/10009459067