Download or read book Markets Information and Uncertainty written by Professor of Economics Graciela Chichilnisky and published by Cambridge University Press. This book was released on 1999-01-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading theorists offer insights on the role of uncertainty and information in the market.

Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

Download or read book Essays on Dynamic Economics written by Xiaodong Huang and published by . This book was released on 1998 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Economic Dynamics written by R.M. Goodwin and published by Springer. This book was released on 1982-07-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Uncertainty Expectations and Financial Instability written by Eric Barthalon and published by Columbia University Press. This book was released on 2014-11-18 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eric Barthalon applies the neglected theory of psychological time and memory decay of Nobel Prize–winning economist Maurice Allais (1911–2010) to model investors' psychology in the present context of recurrent financial crises. Shaped by the behavior of the demand for money during episodes of hyperinflation, Allais's theory suggests economic agents perceive the flow of clocks' time and forget the past at a context-dependent pace: rapidly in the presence of persistent and accelerating inflation and slowly in the event of the opposite situation. Barthalon recasts Allais's work as a general theory of "expectations" under uncertainty, narrowing the gap between economic theory and investors' behavior. Barthalon extends Allais's theory to the field of financial instability, demonstrating its relevance to nominal interest rates in a variety of empirical scenarios and the positive nonlinear feedback that exists between asset price inflation and the demand for risky assets. Reviewing the works of the leading protagonists in the expectations controversy, Barthalon exposes the limitations of adaptive and rational expectations models and, by means of the perceived risk of loss, calls attention to the speculative bubbles that lacked the positive displacement discussed in Kindleberger's model of financial crises. He ultimately extrapolates Allaisian theory into a pragmatic approach to investor behavior and the natural instability of financial markets. He concludes with the policy implications for governments and regulators. Balanced and coherent, this book will be invaluable to researchers working in macreconomics, financial economics, behavioral finance, decision theory, and the history of economic thought.

Download or read book Acting in an Uncertain World written by Michel Callon and published by MIT Press. This book was released on 2011-01-21 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: A call for a new form of democracy in which “hybrid forums” composed of experts and laypeople address such sociotechnical controversies as hazardous waste, genetically modified organisms, and nanotechnology. Controversies over such issues as nuclear waste, genetically modified organisms, asbestos, tobacco, gene therapy, avian flu, and cell phone towers arise almost daily as rapid scientific and technological advances create uncertainty and bring about unforeseen concerns. The authors of Acting in an Uncertain World argue that political institutions must be expanded and improved to manage these controversies, to transform them into productive conversations, and to bring about “technical democracy.” They show how “hybrid forums”—in which experts, non-experts, ordinary citizens, and politicians come together—reveal the limits of traditional delegative democracies, in which decisions are made by quasi-professional politicians and techno-scientific information is the domain of specialists in laboratories. The division between professionals and laypeople, the authors claim, is simply outmoded. The authors argue that laboratory research should be complemented by everyday experimentation pursued in the real world, and they describe various modes of cooperation between the two. They explore a range of concrete examples of hybrid forums that have dealt with sociotechnical controversies including nuclear waste disposal in France, industrial waste and birth defects in Japan, a childhood leukemia cluster in Woburn, Massachusetts, and mad cow disease in the United Kingdom. The authors discuss the implications for political decision making in general and describe a “dialogic” democracy that enriches traditional representative democracy. To invent new procedures for consultation and representation, they suggest, is to contribute to an endless process that is necessary for the ongoing democratization of democracy.

Download or read book Economic Dynamics Trade and Growth written by A.P. Thirlwall and published by Springer. This book was released on 2015-12-31 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sir Roy Harrod was one of the foremost economists of the twentieth century who made pioneering contributions in several branches of economics including: trade cycle theory; growth theory; trade theory; monetary economics; imperfect competition theory, and methodology. This volume arises out of a conference to celebrate the sixtieth anniversary of the publication of his book The Trade Cycle in 1936. After an introductory essay by Walter Eltis, a student of Harrod, this volume contains important essays on the interpretation of Harrod's work in the field of economic dynamics by Danial Besomi and Maurizio Pugno, and in the field of trade and growth by Tony Thirlwall, John McCombie and Luca Bendictis. Finally, Warren Young, in the process of writing Harrod's biography, uses correspondence between Harrod and Haberler to elucidate Harrod's views on trade theory, international monetary reform and inflation.

Download or read book On Skidelsky s Keynes and Other Essays written by G. Harcourt and published by Springer. This book was released on 2012-05-28 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: On Skidelsky's Keynes and Other Essays is a collection of essays, biographies, review articles and tributes, focusing on the lives and times of the Cambridge School of Economists, and the immense contribution that these thinkers, including the author, made to the discipline.

Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

Download or read book Essays in Derivatives written by Don M. Chance and published by John Wiley & Sons. This book was released on 2011-07-05 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the updated second edition of Don Chance’s well-received Essays in Derivatives, the author once again keeps derivatives simple enough for the beginner, but offers enough in-depth information to satisfy even the most experienced investor. This book provides up-to-date and detailed coverage of various financial products related to derivatives and contains completely new chapters covering subjects that include why derivatives are used, forward and futures pricing, operational risk, and best practices.

Download or read book Essays in Dynamics and Econometrics written by Eraldo Fossati and published by . This book was released on 1955 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Risk and Uncertainty in Economics and Finance written by Jorge Mario Uribe Gil and published by Ed. Universidad de Cantabria. This book was released on 2022-11-22 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book adds to the resolution of two problems in finance and economics: i) what is macro-financial uncertainty? : How to measure it? How is it different from risk? How important is it for the financial markets? And ii) what sort of asymmetries underlie financial risk and uncertainty propagation across the global financial markets? That is, how risk and uncertainty change according to factors such as market states or market participants. In Chapter 2, which is entitled “Momentum Uncertainties”, the relationship between macroeconomic uncertainty and the abnormal returns of a momentum trading strategy in the stock market is studies. We show that high levels of uncertainty in the economy impact negatively and significantly the returns of a portfolio of stocks that consist of buying past winners and selling past losers. High uncertainty reduces below zero the abnormal returns of momentum, extinguishes the Sharpe ratio of the momentum strategy, while increases the probability of momentum crashes both by increasing the skewness and the kurtosis of the momentum return distribution. Uncertainty acts as an economic regime that underlies abrupt changes over time of the returns generated by momentum strategies. In Chapter 3, “Measuring Uncertainty in the Stock Market”, a new index for measuring stock market uncertainty on a daily basis is proposed. The index considers the inherent differentiation between uncertainty and the common variations between the series. The second contribution of chapter 3 is to show how this financial uncertainty index can also serve as an indicator of macroeconomic uncertainty. Finally, the dynamic relationship between uncertainty and the series of consumption, interest rates, production and stock market prices, among others, is analized. In chapter 4: “Uncertainty, Systemic Shocks and the Global Banking Sector: Has the Crisis Modified their Relationship?” we explore the stability of systemic risk and uncertainty propagation among financial institutions in the global economy, and show that it has remained stable over the last decade. Additionally, a new simple tool for measuring the resilience of financial institutions to these systemic shocks is provided. We examine the characteristics and stability of systemic risk and uncertainty, in relation to the dynamics of the banking sector stock returns. This sort of evidence is supportive of past claims, made in the field of macroeconomics, which hold that during the global financial crisis the financial system may have faced stronger versions of traditional shocks rather than a new type of shock. In chapter 5, “Currency downside risk, liquidity, and financial stability”, downside risk propagation across global currency markets and the ways in which it is related to liquidity is analyzed. Two primary contributions to the literature follow. First, tail-spillovers between currencies in the global FX market are estimated. This index is easy to build and does not require intraday data, which constitutes an important advantage. Second, we show that turnover is related to risk spillovers in global currency markets. Chapter 6 is entitled “Spillovers from the United States to Latin American and G7 Stock Markets: A VAR-Quantile Analysis”. This chapter contributes to the studies of contagion, market integration and cross-border spillovers during both regular and crisis episodes by carrying out a multivariate quantile analysis. It focuses on Latin American stock markets, which have been characterized by a highly positive dynamic in recent decades, in terms of market capitalization and liquidity ratios, after a far-reaching process of market liberalization and reforms to pension funds across the continent during the 80s and 90s. We document smaller dependences between the LA markets and the US market than those between the US and the developed economies, especially in the highest and lowest quantiles.

Download or read book Essays in Honour of Henry G Schemers Volume 2 Institutional Dynamics of European Integration written by Deirdre M. Curtin and published by BRILL. This book was released on 2023-07-24 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional Dynamics of European Integration is devoted to the topic of the institutional law of the Communities, and contains a timely collection of essays by eminent experts. While this volume will certainly refine legal understanding of the European Union in its present complex phase of development, it also constitutes a warm personal tribute to Henry Schermers, teacher and scholar of international renown and a pioneer of European Community law.

Download or read book Economic Semantics written by Fritz Machlup and published by Routledge. This book was released on 2020-03-06 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the original edition was first published in 1963, Machlip observed ' I hope that the availibility of this collection will dispel semantic and concpetual; fog and allow greather visibility...'. The work is divided into five sections with a new essay in this edition on 'Are the Social Sciences Really Inferior?' There is also a new introduction by Mark Perlman, University Professor of Economics at the University of Pittsburgh.

Download or read book Essays on the Equilibrium Behavior of Dynamic Economies written by Vasanttilak Thakorbhai Naik and published by . This book was released on 1988 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dynamics of Uncertainty Unrest and Fragility in Europe written by Monika Banaś and published by Taylor & Francis. This book was released on 2024-12-02 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines some of the most pressing issues affecting contemporary societies in Europe in the 2020s, namely uncertainty, unrest and the fragility of individuals and groups. Monika Banaś, Vesa Puuronen and their contributors analyse a selection of challenges affecting the present and near future of Europe and European societies. They reflect on processes and events that have a pivotal impact on individual and collective life, for example, how the Russian invasion of Ukraine has affected reformulation or revision of such concepts as security, uncertainty, independence, freedom, democracy and democratic values as well as nation and nationalism. The volume discusses phenomena such as the migration and integration of refugees, media narratives on the Russian–Ukrainian war, political campaign rhetoric concerning the war, institutional engagement in fostering civil and inclusive societies, strategies of young people to cope with uncertainty in times of socio-economic challenges. The book offers a valuable reference for scholars and students of European societies studying a broad scope of courses in sociology, political culture, intercultural communication, intercultural and international relations, along with political science. It will also be of interest to experts and practitioners of the NGO sector active in supporting vulnerable individuals, communities and societies.

Download or read book Vernacular Eloquence written by Peter Elbow and published by OUP USA. This book was released on 2012-01-13 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the publication of his groundbreaking books Writing Without Teachers and Writing with Power, Peter Elbow has revolutionized how people think about writing. Now, in Vernacular Eloquence, he makes a vital new contribution to both practice and theory. The core idea is simple: we can enlist virtues from the language activity most people find easiest-speaking-for the language activity most people find hardest-writing. Speech, with its spontaneity, naturalness of expression, and fluidity of thought, has many overlooked linguistic and rhetorical merits. Through several easy to employ techniques, writers can marshal this "wisdom of the tongue" to produce stronger, clearer, more natural writing.This simple idea, it turns out, has deep repercussions. Our culture of literacy, Elbow argues, functions as though it were a plot against the spoken voice, the human body, vernacular language, and those without privilege-making it harder than necessary to write with comfort or power. Giving speech a central role in writing overturns many empty preconceptions. It causes readers to think critically about the relationship between speech, writing, and our notion of literacy. Developing the political implications behind Elbow's previous books, Vernacular Eloquence makes a compelling case that strengthening writing and democratizing it go hand in hand.