Financial Mathematics and Applied Probability Seminars 2001-2002
... uncertainty is Markovian with state variables driven by a Levy jump process that contains both Brownian and Poisson uncertainties. By introducing the so-called pseudo-state process, which is uniquely determined by the original state process and the representative agent's utility function, we were ab ...
... uncertainty is Markovian with state variables driven by a Levy jump process that contains both Brownian and Poisson uncertainties. By introducing the so-called pseudo-state process, which is uniquely determined by the original state process and the representative agent's utility function, we were ab ...
Teaching Dogma in Psychology - Living Control Systems Publishing
... I tried formulating the talk on the basis of concepts from cognitive psychology—along with some of the stuff I was learning from Powers’ book. But as I read and re-read Powers, he seemed to make more sense than anything I was reading in the cognition texts. Powers spoke directly and clearly to the f ...
... I tried formulating the talk on the basis of concepts from cognitive psychology—along with some of the stuff I was learning from Powers’ book. But as I read and re-read Powers, he seemed to make more sense than anything I was reading in the cognition texts. Powers spoke directly and clearly to the f ...
Document
... Economists also study how people interact such as buyers and sellers. Price determination. Economists also analyze forces and trends that affect the economy as a whole. Growth in average income The rate of price increase. ...
... Economists also study how people interact such as buyers and sellers. Price determination. Economists also analyze forces and trends that affect the economy as a whole. Growth in average income The rate of price increase. ...
The role of behavior in evolution: a search for mechanism
... helpful, they are not mutually exclusive categories, at least in relation to behavioral traits. Behavioral traits are always reversible, yet their level of expression can nevertheless be highly consistent in adulthood such that the expression of a particular behavior can be at once reversible and de ...
... helpful, they are not mutually exclusive categories, at least in relation to behavioral traits. Behavioral traits are always reversible, yet their level of expression can nevertheless be highly consistent in adulthood such that the expression of a particular behavior can be at once reversible and de ...
The role of behavior in evolution: a search for mechanism
... helpful, they are not mutually exclusive categories, at least in relation to behavioral traits. Behavioral traits are always reversible, yet their level of expression can nevertheless be highly consistent in adulthood such that the expression of a particular behavior can be at once reversible and de ...
... helpful, they are not mutually exclusive categories, at least in relation to behavioral traits. Behavioral traits are always reversible, yet their level of expression can nevertheless be highly consistent in adulthood such that the expression of a particular behavior can be at once reversible and de ...
PDF (References)
... Alvarez, R. J., Soriano, A., Cisneros, M. and Suarez, R. (2003). Symmetry/antisymmetry Phase Transitions in Crude Oil Markets. Physica. (322): 583-596. Bashier, A. A. and Talal, B. (2007). Forecasting Foreign Direct Investment Inflow in Jordan : Univariate ARIMA Model. Journal og Social Sciences. 3( ...
... Alvarez, R. J., Soriano, A., Cisneros, M. and Suarez, R. (2003). Symmetry/antisymmetry Phase Transitions in Crude Oil Markets. Physica. (322): 583-596. Bashier, A. A. and Talal, B. (2007). Forecasting Foreign Direct Investment Inflow in Jordan : Univariate ARIMA Model. Journal og Social Sciences. 3( ...
Reconciling behavioural and neoclassical economics - Hal-SHS
... the study of the interaction of large number of individuals. Quite interestingly, the authors of both approaches refer to the same kind of argument in order to justify the assumption of rationality: the evolutionary tendency of becoming more rational as long as the game is repeated. However, Binmore ...
... the study of the interaction of large number of individuals. Quite interestingly, the authors of both approaches refer to the same kind of argument in order to justify the assumption of rationality: the evolutionary tendency of becoming more rational as long as the game is repeated. However, Binmore ...
International Commodity Prices, Macroeconomic Performance, and Politics in Sub-Saharan Africa
... INTERNATIONAL FINANCE SECTION Notice to Contributors The International Finance Section publishes papers in four series: ESSAYS IN INTERNATIONAL FINANCE, PRINCETON STUDIES IN INTERNATIONAL FINANCE, and SPECIAL PAPERS IN INTERNATIONAL ECONOMICS contain new work not published elsewhere. REPRINTS IN INT ...
... INTERNATIONAL FINANCE SECTION Notice to Contributors The International Finance Section publishes papers in four series: ESSAYS IN INTERNATIONAL FINANCE, PRINCETON STUDIES IN INTERNATIONAL FINANCE, and SPECIAL PAPERS IN INTERNATIONAL ECONOMICS contain new work not published elsewhere. REPRINTS IN INT ...
The Behavior of Organisms?
... histories of stimulus-response interactions coming into contact with current contingencies, not from the subjects that participate in experiments. In this vein, the authors have been advised by JEAB reviewers, on more than one occasion, to remove references to organisms or persons from submitted man ...
... histories of stimulus-response interactions coming into contact with current contingencies, not from the subjects that participate in experiments. In this vein, the authors have been advised by JEAB reviewers, on more than one occasion, to remove references to organisms or persons from submitted man ...
Consistency of the Stock Market in Anticipating Economic Cycles
... The stock market presented in Table II peaked on average 5.8 months prior to the downturn in economic activity with a median of 6.0 months. The monthly range was -1 to +12. The 1929 market downturn actually began in September, the month prior to the “crash” that began October 23 rd. Since the econom ...
... The stock market presented in Table II peaked on average 5.8 months prior to the downturn in economic activity with a median of 6.0 months. The monthly range was -1 to +12. The 1929 market downturn actually began in September, the month prior to the “crash” that began October 23 rd. Since the econom ...
PDF
... whether or not the conditions exist for the operation of markets. A second argument of greater social import is whether or not functioning markets will correctly reflect the marginal social values that will command wide assent. It is one thing for markets to work; it is quite another to conclude tha ...
... whether or not the conditions exist for the operation of markets. A second argument of greater social import is whether or not functioning markets will correctly reflect the marginal social values that will command wide assent. It is one thing for markets to work; it is quite another to conclude tha ...
Implications of Causal-Realist Preference Theory on Expected Utility
... the outcome of any action in inherently not perfectly knowable. There is always the potential that one will not achieve the desired end by use of your chosen means, i.e. uncertainty applies to all human action. Different economists have also tried to develop a theory of action under risk or uncertai ...
... the outcome of any action in inherently not perfectly knowable. There is always the potential that one will not achieve the desired end by use of your chosen means, i.e. uncertainty applies to all human action. Different economists have also tried to develop a theory of action under risk or uncertai ...
Presentation for GTG
... comparison with a given standard of value • That standard of value may well be given by social comparison • We conjecture that a plausible specification of the KUJ model should take reference dependence into account … • … which implies that the utility function for the individual is Sshaped, convex ...
... comparison with a given standard of value • That standard of value may well be given by social comparison • We conjecture that a plausible specification of the KUJ model should take reference dependence into account … • … which implies that the utility function for the individual is Sshaped, convex ...
Lecture 8
... Testing the APT is not straight forward – theory specifies a structure for asset pricing – theory does not say anything about the economic or firm characteristics that should affect returns. ...
... Testing the APT is not straight forward – theory specifies a structure for asset pricing – theory does not say anything about the economic or firm characteristics that should affect returns. ...
Technical Analysis - SelectedWorks
... opportunities in the market to generate a profit. This is based upon the assumption that markets are a reflection of “…people’s opinions and expectations (Brown, 2003, page 22)” and the fact that to date there is no equation to “…quantify fear or greed (Brown, 2003, page 22).” The CBOE Volatility In ...
... opportunities in the market to generate a profit. This is based upon the assumption that markets are a reflection of “…people’s opinions and expectations (Brown, 2003, page 22)” and the fact that to date there is no equation to “…quantify fear or greed (Brown, 2003, page 22).” The CBOE Volatility In ...
Learning - Francis Marion University
... Carlos makes irrelevant and inappropriate comments during class discussion. ...
... Carlos makes irrelevant and inappropriate comments during class discussion. ...
Operant conditioning 4.1 Introduction to Operant conditioning (or
... autoshaping (sometimes called "sign tracking"), in which a stimulus is repeatedly followed by reinforcement, and in consequence the animal begins to respond to the stimulus. For example, a response key is lighted and then food is presented. When this is repeated a few times a pigeon subject begins t ...
... autoshaping (sometimes called "sign tracking"), in which a stimulus is repeatedly followed by reinforcement, and in consequence the animal begins to respond to the stimulus. For example, a response key is lighted and then food is presented. When this is repeated a few times a pigeon subject begins t ...
Microeconomics for MBAs: The Economic Way of Thinking for
... Finally, the endowment effect helps explain the paradox of holiday gift giving among individuals and firms. Since money is fungible (can be used to buy any number of things people value), a $100 gift in the form of an object or service, or in kind, is likely to be less valuable to recipients than $1 ...
... Finally, the endowment effect helps explain the paradox of holiday gift giving among individuals and firms. Since money is fungible (can be used to buy any number of things people value), a $100 gift in the form of an object or service, or in kind, is likely to be less valuable to recipients than $1 ...
Rational-Choice Hermeneutics
... claims only that human actions are to be understood in more or less the way we understand a poem or the instructions on a tube of toothpaste: we attempt to understand the purpose of the act (whether written or otherwise) in terms of the internal perceptions and beliefs of the person who performed i ...
... claims only that human actions are to be understood in more or less the way we understand a poem or the instructions on a tube of toothpaste: we attempt to understand the purpose of the act (whether written or otherwise) in terms of the internal perceptions and beliefs of the person who performed i ...
Filistrucchi, Klein and Michielsen: Merger simulation in a two
... • Then two-sidedness is rather limited in this market – Good example of a what might happen in a two-sided market? – Can one use the empirical result to argue that the effect shall be ignored in the theoretical model? ...
... • Then two-sidedness is rather limited in this market – Good example of a what might happen in a two-sided market? – Can one use the empirical result to argue that the effect shall be ignored in the theoretical model? ...
Economics 220 – Course Descriptions 01:220:102 Introduction to
... applications. Regression-based estimators derived and their statistical properties established. Topics include linear regression model and its extensions in economics, full information maximum likelihood estimators and test procedures, and other nonlinear methods. Computer applications of these meth ...
... applications. Regression-based estimators derived and their statistical properties established. Topics include linear regression model and its extensions in economics, full information maximum likelihood estimators and test procedures, and other nonlinear methods. Computer applications of these meth ...
reappraisal of rational choice theory - Interdisciplinary Description of
... the analysis of the markets it makes untenable the efficient market hypothesis, being the fundamental idea of mainstream. As Davidson stated “Whether they declare themselves Monetarists, Rational Expectation theorists, Neoclassical Synthesis [Old] Keynesians or New Keynesians, the backbone of their ...
... the analysis of the markets it makes untenable the efficient market hypothesis, being the fundamental idea of mainstream. As Davidson stated “Whether they declare themselves Monetarists, Rational Expectation theorists, Neoclassical Synthesis [Old] Keynesians or New Keynesians, the backbone of their ...
J. Robert Working NEW CLASSICALS AND KEYNESIANS, OR THE GOOD GUYS AND THE...
... Prepared for presentation at the 125th anniversary meeting of the Swiss Economic Association, April 1989. This paper is part of NBER's research program in Economic Fluctuations. Any opinions expressed are those of the author not those of the National Bureau of Economic Research. ...
... Prepared for presentation at the 125th anniversary meeting of the Swiss Economic Association, April 1989. This paper is part of NBER's research program in Economic Fluctuations. Any opinions expressed are those of the author not those of the National Bureau of Economic Research. ...
Document
... evolutionary ontological accounts of the ways in which economists practice their science, because it is these accounts that can explain the epistemic phenomena in terms of the processes of intellectual causation. Intellectual causation explains the challenges that economists face when they encounter ...
... evolutionary ontological accounts of the ways in which economists practice their science, because it is these accounts that can explain the epistemic phenomena in terms of the processes of intellectual causation. Intellectual causation explains the challenges that economists face when they encounter ...
the presentation
... › If dividends are taxed more, dividend amounts should be lower than repurchase amounts › In fact the opposite is true, so tax may not be the major driver › But … repurchase amounts increase faster and Skinner (2008) finds that repurchases are dominant now in the US › Still, tax is -at best- a relat ...
... › If dividends are taxed more, dividend amounts should be lower than repurchase amounts › In fact the opposite is true, so tax may not be the major driver › But … repurchase amounts increase faster and Skinner (2008) finds that repurchases are dominant now in the US › Still, tax is -at best- a relat ...