To consider the psychological factors that impact market valuation, a model is formulated for investment behaviour of traders whose decisions are influenced by their trusted peers’ behaviour. The model is implemented and several different “trust networks” are tested. Simulation results...

In this paper we present a derivative-free optimization algorithm for finite minimax problems. The algorithm calculates an approximate gradient for each of the active functions of the finite max function and uses these to generate an approximate subdifferential. The negative projection of 0 onto...

A hedge fund is a privately offered investment vehicle that pools the contributions of investors in order to invest in a variety of assets, such as securities, futures, options, bonds and currencies. Hedge funds have attracted growing attention from policy makers, financial market participants...

Asia’s share of world trade has expanded constantly over the last two decades. This increase reflects, inter alia, the considerable strengthening of trade links between the countries of the region, fostered by the vertical specialisation of the Asian economies. In the 1980s, the most advanced...