This working paper presents the general theory of the higher order "skew lognormal cascade distribution" as a … market index, and the market entropy of the stock market. Such study in the context of stochastic portfolio theory reveals … distribution, which is the lognormal cascade equation in our theory. This shows that the fluctuations of the market index are a …

Traditional Austrian cycle theory starts from general equilibrium and explains how an expansion of bank credit … refocuses the analytical agenda of macro theory. Our key analytical feature is the conceptualization of a macro economy as … from micro-level interaction. In turn, the computation of optimizing actions is beset with undecidability. The theory of …

Traditional Austrian cycle theory starts from general equilibrium and explains how an expansion of bank credit … refocuses the analytical agenda of macro theory. Our key analytical feature is the conceptualization of a macro economy as … from micro-level interaction. In turn, the computation of optimizing actions is beset with undecidability. The theory of …