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Recent financial crises and especially large corporate bankruptcies, have led bank managements and financial … authorities to follow and monitor both financial and real sector risks, and to focus on firm failures. Bank of International … the Central Bank. Cost sensitive learning was given special attention in the analysis. …
Persistent link: https://www.econbiz.de/10015242477
The main thesis in this manuscript is that a social choice theory based on aggregating individual preferences and values is insufficient to confront the social choices that today’s world is facing. It is defended in here that institutions play a critical role in any social choice, and that the...
Persistent link: https://www.econbiz.de/10015214328
The theory of fair geometric returns, F theory for short, rejects the generally accepted notion that volatility is the risk of risky assets. Instead, it claims that capital market volatility, in turn, constitutes the maximum achievable geometric return. In order to get to the point, F theory, in...
Persistent link: https://www.econbiz.de/10015260519
The recent coronavirus disease 2019 (COVID-19) generated some non-routine problems, characterized by a high degree of uncertainty which makes difficult the solving by the full rational decision making models. In the field of finance, such problems are those associated to the fiscal and monetary...
Persistent link: https://www.econbiz.de/10015267127
In this paper, using network tools, I analyse systemic impacts of liquidity shocks in interbank market in case of endogenous haircuts. Gai, Haldane and Kapadia (2011) introduce a benchmark for liquidity crisis following haircut shocks, and Gorton and Metrick (2010) reveal the evidence from...
Persistent link: https://www.econbiz.de/10015242271
The purpose of this project is to determine if calendar effects observed in stock markets can be explained by prospect theory. In order to answer this question, I have created an agent based model simulating a stock market. There was no sign of any calendar effect in any of the configurations...
Persistent link: https://www.econbiz.de/10015265491
One explanation for large stock market fluctuations is its tendency to herd behavior. We put forward an agent-based model where instabilities are the result of liquidity imbalances amplified by local interactions through imitation, and calibrate the model to match some key statistics of actual...
Persistent link: https://www.econbiz.de/10015252102
We study one-shot play in the set of all bimatrix games by a large population of agents. The agents never see the same game twice, but they can learn `across games' by developing solution concepts that tell them how to play new games. Each agent's individual solution concept is represented by a...
Persistent link: https://www.econbiz.de/10015226077
This paper is a user's manual of the French software ECHANGE 2.0 - Marché sur réseau. This software organizes transactions between from 2 to 70 individuals connected in the same LAN. There is nine goods (leisure one) that operators can buy or sell according to their inventories of goods and...
Persistent link: https://www.econbiz.de/10015234503
This papers discusses the scientific and practical perspectives of using general game playing in business-to-business price negotiations as a part of Procurement 4.0 revolution. The status quo of digital price negotiations software,which emerged from intuitive solutions to business goals and...
Persistent link: https://www.econbiz.de/10015265896