% (and can be as high as 40%) of total currency risk, as measured by the entropy of exchange rate changes, over horizons of …

commonly used in the literature. We also show how a formulation of a taste for variety as entropy that had been previously used …

testing for market efficiency have been criticised. This study utilises entropy analysis combined with generalised … recessionary periods and to increase in subsequent periods. We have also found that the entropy measure tends to increase over time …