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The Seismography of Crashes in Financial Markets
Araujo, Tanya; Louçã, Francisco - ISEG - School of Economics and Management, Department … - 2007
This paper investigates the dynamics of stocks in the S&P500 for the last 33 years, considering the population of all companies present in the index for the whole period. Using a stochastic geometry tech- nique and defining a robust index of the dynamics of the market struc- ture, which is able...
Persistent link: https://www.econbiz.de/10005593036
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Financial markets as a public good - complexity and the sustainability of financial markets
Platje, Joost; Hoen, Herman Willem; Renteria Guerrero, Luis - In: The Central European Review of Economics and Management … 7 (2023) 2, pp. 41-66
Aim: In this paper, it is argued that in complex financial systems private goods, important for the creation of a market, have to be considered in a multiple of differing property rights structures necessary for the functioning of the system. This may lead to high transaction costs and adverse...
Persistent link: https://www.econbiz.de/10015272803
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Financial markets as a public good : complexity and the sustainability of financial markets
Platje, Joost; Hoen, Herman Willem; Renteria Guerrero, Luis - In: Central European review of economics and management : CEREM 7 (2023) 2, pp. 41-66
Aim: In this paper, it is argued that in complex financial systems private goods, important for the creation of a market, have to be considered in a multiple of differing property rights structures necessary for the functioning of the system. This may lead to high transaction costs and adverse...
Persistent link: https://www.econbiz.de/10014315987
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Complexity and bidder behavior in iterative auctions
Sherstyuk, Katerina - In: Economics Bulletin 31 (2011) 4, pp. 2769-2776
We extend the finite automata approach to evaluate complexity of strategies in iterative adjustment processes such as … auctions. Intuitively, a strategy's complexity is equal to the number of different contingencies in which qualitatively … different behaviors are prescribed. Complexity may explain bidder choice of strategies in multi-unit iterative auctions. …
Persistent link: https://www.econbiz.de/10009321774
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What Economists can learn from physics and finance
McCauley, Joseph L. - Volkswirtschaftliche Fakultät, … - 2004
Some economists (Mirowski, 2002) have asserted that the neoclassical economic model was motivated by Newtonian mechanics. This viewpoint encourages confusion. Theoretical mechanics is firmly grounded in reproducible empirical observations and experiments, and provides a very accurate description...
Persistent link: https://www.econbiz.de/10005835811
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Consensus theories : An oriented survey.
Hudry, Olivier; Monjardet, Bernard - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2010
consensus rules, tournament solutions, restricted domains, abstract consensus theories, algorithmic and complexity issues. This …
Persistent link: https://www.econbiz.de/10008461108
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On Market Economies: How Controllable Constructs Become Complex
Dominique, C-Rene - Volkswirtschaftliche Fakultät, … - 2014
Since Lėon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the economic system, which remains to this day unobservable. Yet that belief is the corner stone of other theories such as the ‘Efficient Market Hypothesis’ as well as the philosophy...
Persistent link: https://www.econbiz.de/10011111254
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Foundations of the economic and social history of the United States: Metaphysical
Albers, Scott - Volkswirtschaftliche Fakultät, … - 2013
"Oppositional Analysis" - the name I give to the metaphysics presented in this volume - proposes a number of dichotomies through which one may analyze and understand systematically the structure of every level of reality. Macroeconomic theory, as well as social research, are two excellent stages...
Persistent link: https://www.econbiz.de/10011258411
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Foundations of the economic and social history of the United States: Empirical
Albers, Scott - Volkswirtschaftliche Fakultät, … - 2013
I argue that a form of consciousness may be found in American economic history, one which is both mathematically demonstrable and important. In this book I present a model of economic and political growth based upon systematic addition. We begin with a philosophic model of trade (pp. 34-46);...
Persistent link: https://www.econbiz.de/10011259667
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Predicting crises: Five essays on the mathematic prediction of economic and social crises
Albers, Scott - Volkswirtschaftliche Fakultät, … - 2012
This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic...
Persistent link: https://www.econbiz.de/10011260672