Introduction - Drake University
... markets have lower transaction costs and greater liquidity compared to the spot market. Additionally they allow easier short sales helping to “complete” the market. Market Efficiency - Spot market prices are sometimes not consistent with assets true economic value and arbitrage opportunities exist. ...
... markets have lower transaction costs and greater liquidity compared to the spot market. Additionally they allow easier short sales helping to “complete” the market. Market Efficiency - Spot market prices are sometimes not consistent with assets true economic value and arbitrage opportunities exist. ...
Tree-based Data Structures for Triangle Mesh Connectivity Encoding
... of the internal similarities between our algorithm and the EdgeBreaker. 4.1 The Divide and Conquer Algorithm for Planar Meshes In the beginning of the encoding process we mark the boundary vertices of the mesh as conquered. We randomly choose a directed edge on the boundary of the mesh as the initia ...
... of the internal similarities between our algorithm and the EdgeBreaker. 4.1 The Divide and Conquer Algorithm for Planar Meshes In the beginning of the encoding process we mark the boundary vertices of the mesh as conquered. We randomly choose a directed edge on the boundary of the mesh as the initia ...
Insper Instituto de Ensino e Pesquisa Ricardo Lins Ribeiro A
... homeowners (or renters) to be indifferent between different locations”; since house prices would be higher in more popular locations or good neighbourhoods, individuals should pay a premium to live in these places. Rosen (1979) defined three goods in the market: land, products manufactured by homeow ...
... homeowners (or renters) to be indifferent between different locations”; since house prices would be higher in more popular locations or good neighbourhoods, individuals should pay a premium to live in these places. Rosen (1979) defined three goods in the market: land, products manufactured by homeow ...
Adverse Selection and Risk Aversion in Capital Markets
... Agents will prefer debt-financing their projects to investing K in the safe asset if EUB ≥ Ws1−σ /(1 − σ). We can use (2) and (5)–(6) to define a function Z(p) that partitions the space p × R, through (7), into two different sets: the locus (p, R) such that agents opt to become entrepreneurs (throug ...
... Agents will prefer debt-financing their projects to investing K in the safe asset if EUB ≥ Ws1−σ /(1 − σ). We can use (2) and (5)–(6) to define a function Z(p) that partitions the space p × R, through (7), into two different sets: the locus (p, R) such that agents opt to become entrepreneurs (throug ...
NBER WORKING PAPER SERIES RISKS OF AN ECONOMY
... major sectors in the economy. Domestic equity markets provide pricing and volatility information for the calculation of corporate, bank and non-bank financial assets, and asset volatilities. The Merton model is widely used to estimate implied assets and asset volatility for firms and financial insti ...
... major sectors in the economy. Domestic equity markets provide pricing and volatility information for the calculation of corporate, bank and non-bank financial assets, and asset volatilities. The Merton model is widely used to estimate implied assets and asset volatility for firms and financial insti ...
System for 3D visualization and data mining of large vascular trees
... heart, liver, and other organs.1–3 A typical 3D micro-CT image can consist of several hundred megabytes of image data, with a voxel resolution on the order of ten microns. The quantitative analysis and subsequent visualization of such images poses a considerable challenge. The specific problem we ad ...
... heart, liver, and other organs.1–3 A typical 3D micro-CT image can consist of several hundred megabytes of image data, with a voxel resolution on the order of ten microns. The quantitative analysis and subsequent visualization of such images poses a considerable challenge. The specific problem we ad ...
NBER WORKING PAPER SERIES INTERGENERATIONAL REDISTRIBUTION IN THE GREAT RECESSION Andrew Glover
... losses were heavily concentrated among older age groups: households aged 60-69 lost $312,000 on average. Since 2009, asset prices and net worth have recovered somewhat, but remain well below their 2007 values. These empirical facts suggest that the welfare losses from large economic downturns are un ...
... losses were heavily concentrated among older age groups: households aged 60-69 lost $312,000 on average. Since 2009, asset prices and net worth have recovered somewhat, but remain well below their 2007 values. These empirical facts suggest that the welfare losses from large economic downturns are un ...
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... A farmdoc daily article (October 10, 2014) last week examined the drivers of D4 biodiesel RINs prices. It is important to understand these drivers since the level of D4 prices drives the level of D6 ethanol RINs prices when the renewable (ethanol) mandate exceeds the E10 blend wall. The analysis hig ...
... A farmdoc daily article (October 10, 2014) last week examined the drivers of D4 biodiesel RINs prices. It is important to understand these drivers since the level of D4 prices drives the level of D6 ethanol RINs prices when the renewable (ethanol) mandate exceeds the E10 blend wall. The analysis hig ...
Skip Lists: A Probabilistic Alternative to Balanced Trees - CMU 15-721
... For most applications, implementers generally agree skip lists are significantly easier to implement than either balanced tree algorithms or self-adjusting tree algorithms. ...
... For most applications, implementers generally agree skip lists are significantly easier to implement than either balanced tree algorithms or self-adjusting tree algorithms. ...
slides04
... More formally: O(f(n)) is an upper-bound, when n is large enough the expression cf(n) is larger Intuition: linear function: double input, double time, quadratic function: double input, quadruple the time ...
... More formally: O(f(n)) is an upper-bound, when n is large enough the expression cf(n) is larger Intuition: linear function: double input, double time, quadratic function: double input, quadruple the time ...
Inflation-Indexed Securities: Description and Market Experience
... security of anyone who lives on a fixed income: inflation, which eats away at the purchasing power of any asset or fixed income stream. Many different individuals may be exposed to the risks of inflation. A young couple saving for a down payment on a house, or for a child’s education, may find that ...
... security of anyone who lives on a fixed income: inflation, which eats away at the purchasing power of any asset or fixed income stream. Many different individuals may be exposed to the risks of inflation. A young couple saving for a down payment on a house, or for a child’s education, may find that ...
Balancing weight-balanced trees
... WBT algorithm are widely used in functional programming languages, many existing implementations do not maintain balance after deletion in some cases. The difficulty lies in choosing a valid pair of rotation parameters: one for standard balance and the other for choosing single or double rotation. Thi ...
... WBT algorithm are widely used in functional programming languages, many existing implementations do not maintain balance after deletion in some cases. The difficulty lies in choosing a valid pair of rotation parameters: one for standard balance and the other for choosing single or double rotation. Thi ...
Dynamic Asset Pricing With Non
... Financial markets and monetary authorities have recently been under pressure to design forward contracts written neither on financial assets nor on commodities but on non-tradable economic variables [see Shiller (1993), Sumner (1995) and Athanasoulis, Shiller and van Wincoop (1999)]. The most obviou ...
... Financial markets and monetary authorities have recently been under pressure to design forward contracts written neither on financial assets nor on commodities but on non-tradable economic variables [see Shiller (1993), Sumner (1995) and Athanasoulis, Shiller and van Wincoop (1999)]. The most obviou ...
NBER WORKING PAPER SERIES QUANTITATIVE IMPLICATION OF A DEBT-DEFLATION
... constraints. The paper develops a numerical solution method to explore these nonlinear dynamics using a recursive representation of the model’s competitive equilibrium. The quantitative results show that a baseline scenario calibrated to Mexican data and with minimal trading costs can produce revers ...
... constraints. The paper develops a numerical solution method to explore these nonlinear dynamics using a recursive representation of the model’s competitive equilibrium. The quantitative results show that a baseline scenario calibrated to Mexican data and with minimal trading costs can produce revers ...
Cache-Oblivious Dynamic Search Trees Zardosht Kasheff
... experimentally tune the value of k on any machine used. Because machines are complex, finding the optimal k is a complex task that may even be impossible. This thesis presents the implementation and testing of an alternative data structure that requires no such tuning, a “cache-oblivious” dynamic se ...
... experimentally tune the value of k on any machine used. Because machines are complex, finding the optimal k is a complex task that may even be impossible. This thesis presents the implementation and testing of an alternative data structure that requires no such tuning, a “cache-oblivious” dynamic se ...
A Transaction Data Study of the Forward Bias Puzzle
... FRU persist. Much like the whereabouts of the mythological Phoenix in Metastasio’s citation, the forward discount bias arguably remains an unresolved puzzle. Recently, the forward discount bias has entered popular debate in the form of the carry trade strategy. This strategy, going long high interes ...
... FRU persist. Much like the whereabouts of the mythological Phoenix in Metastasio’s citation, the forward discount bias arguably remains an unresolved puzzle. Recently, the forward discount bias has entered popular debate in the form of the carry trade strategy. This strategy, going long high interes ...
Lattice model (finance)
For other meanings, see lattice model (disambiguation)In finance, a lattice model [1] is a technique applied to the valuation of derivatives, where, because of path dependence in the payoff, 1) a discretized model is required and 2) Monte Carlo methods fail to account for optimal decisions to terminate the derivative by early exercise. For equity options, a typical example would be pricing an American option, where a decision as to option exercise is required at ""all"" times (any time) before and including maturity. A continuous model, on the other hand, such as Black Scholes, would only allow for the valuation of European options, where exercise is on the option's maturity date. For interest rate derivatives lattices are additionally useful in that they address many of the issues encountered with continuous models, such as pull to par.