The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems...

The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems...

Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any possible economic variables and processes chargeable for...

This article discusses five specific economic patterns influenced by AI: the emergence of the machina economica, the acceleration of the division of labor, the introduction of AI leading to triangular agency relationships, the recognition of data and AI-based machine labor as new factors of...

ABSTRACT Although the concept of national competitiveness is widely used by policy makers at both the national and international levels, it has been the object of trenchant criticism in a series of influential contributions by Professor Krugman. He regards it as a meaningless concept and in the...

This two-part working paper series represents a distillation of practical approaches with regard to the successful management of so-called “legacy assets” which include both impaired as well as non-performing loans, particularly in those in the real estate and property sectors. This two-part...

In a standard portfolio choice between a risky and a safe asset, we study the effect of imposing premia and penalties conditional on the realized return of the portfolio meeting a given threshold. We show that thresholds set at ”intermediate levels” have the effect to increase the optimal...

Although there are alternative models which can explain the Allais paradox with non-standard preferences, they do not take the emerging evidence on preference imprecision into account. The imprecision is so far incorporated into these models by adding a stochastic specification implying the...

Today's advances in big data technologies readily allow for storing large inter-dependent data sets of historical and modeled natural hazard and financial data and unifying their granularity and accuracy with common geo-spatial and risk-type record identifiers. This is a significant component at...

During the recent Financial Crisis, as well as the 2010 and ongoing European Sovereign Debt Crisis, several governments had/have had to raise their debt levels in order to stabilize their economies. The principal problem attributed to sovereign debts, which is linked to their characteristics, is...