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Evolutionary learning in auctions
Konrad Richter - 2005
Classical auction theory relies heavily on the assumption of perfectly rational bidders that play according to their Nash Equilibrium Strategies. An alternative model is developed in this Thesis. It develops a framework for analyzing evolutionary learning in repeated auctions - bidders'...
Persistent link: https://www.econbiz.de/10009428992
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Empirical estimation of consistency parameter in intertemporal choice based on Tsallis’ statistics
Takahashi, Taiki; Oono, Hidemi; Radford, Mark H. B. - 2007
Impulsivity and inconsistency in intertemporal choice have been attracting attention in econophysics and neuroeconomics … choice. Recent studies using Tsallis’ statistics-based econophysics have found a discount function (i.e. q …
Persistent link: https://www.econbiz.de/10009448386
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An econophysical investigation : using the Boltzmann distribution to determine market temperature as applied to the JSE all share index
Brand, Rene - 2009
ENGLISH ABSTRACT: Econophysics is a relatively new branch of physics. It entails the use of models in physics applied … market volatility forecasting method from econophysics, namely the Boltzmann/market temperature method. As …
Persistent link: https://www.econbiz.de/10009442109
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Worrying trends in econophysics
Gallegatti, Mauro; Keen, Steve; Lux, Thomas; Ormerod, Paul - Universita Politecnica delle Marche; University of …; … - 2006
Econophysics has already made a number of important empirical contributions to our understanding of the social and … amount of reasonably well-defined data. More recently, Econophysics has also begun to tackle other areas of economics where …
Persistent link: https://www.econbiz.de/10009482163
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Financialization and Capital Accumulation in the Non-Financial Corporate Sector: A Theoretical and Empirical Investigation of the U.S. Economy: 1973-2003
Orhangazi, Özgür - 2007
Recent research has explored the growing ‘financialization’ process in the U.S. and other advanced economies. The term is a catch-all phrase used to denote important changes in the structure of non-financial corporations’ balance sheets, including the growth of income from financial...
Persistent link: https://www.econbiz.de/10009467773
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If Financial Market Competition is so Intense, Why are Financial Firm Profits so High? Reflections on the Current ‘Golden Age’ of Finance
Crotty, James - 2007
In 1997 former Federal Reserve Board Chairman Paul Volker posed a question about the commercial banking system he said he could not answer. The industry was under more intense competitive pressure than at any time in living memory, Volcker noted, “yet at the same time the industry never has...
Persistent link: https://www.econbiz.de/10009467897
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From Fragmentation towards Innovation, the Application of Institutionalism towards Financial Market Theories
von Bernstorff, Alexandra - 2004
Financial markets in less developed countries suffer from financial dualism, a situation in which a large informal sector coexists alongside a formal one. Contemporary financial market theories are not able to incorporate an understanding of the informal sector and are, therefore, only...
Persistent link: https://www.econbiz.de/10009468279
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Financial Markets for UnKnown Risks
Chichilnisky, Graciela; Heal, Geoffrey - 1992
An economy faces an unknown individual risk, such as the health effects of a recently discovered environmental hazard. Opinions may be widely different about the distribution of risks across the population. We study financial markets that suffice to reach efficient allocations in this situation....
Persistent link: https://www.econbiz.de/10009472280
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Financial Innovation and Endogenous Uncertainty in Incomplete Asset Markets
Chichilnisky, Graciela; Wu, Ho-Mou - 1992
We study endogenous uncertainty stemming from the introduction of new financial assets, so as to evaluate the risks as well as the welfare gains of financial innovation. The introduction of financial assets to hedge individual risk can lead to the risk of default, which is a collective risk. The...
Persistent link: https://www.econbiz.de/10009472281
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Financial Markets for Unknown Risks
Chichilnisky, Graciela; Heal, Geoffrey - 1992
An economy faces an unknown individual risk, such as the health effects of recently discovered environmental hazard. Opinions may be widely different about the distribution of risks across the population. We study financial markets that suffice to reach efficient allocations in this situation....
Persistent link: https://www.econbiz.de/10009472287