Beauty Contests And Fat Tails In Financial Markets

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The Bridge to a Global Middle Class

Author : Walter Russell Mead
Publisher : Springer Science & Business Media
ISBN 13 : 9781402073298
Total Pages : 692 pages
Book Rating : 4.0/5 (732 download)

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Book Synopsis The Bridge to a Global Middle Class by : Walter Russell Mead

Download or read book The Bridge to a Global Middle Class written by Walter Russell Mead and published by Springer Science & Business Media. This book was released on 2003 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Bridge to a Global Middle Class compiles a unique series of papers originally commissioned by the Council on Foreign Relations in the wake of the financial crises of 1997-1998. This thought-provoking retrospective culls the views of economists, international financial institutions, Wall Street, organized labor and varying public-interest organizations on the issue of how to fortify our global financial infrastructure. Their effort is the culmination of an 18-month study - The Project on Development, Trade, and International Finance - that seeks to encourage the evolution of middle-class oriented economic development in emerging market countries. In addressing the world economic problems that led to the crises and examining methods to improve the workings of the world's financial markets, they offer ideas, policy recommendations, and suggest the concrete forms these might take, in the drive to transition the world economy toward strategies that offer the developing world an improved standard of living. These papers make a convincing case for middle-class-oriented economic development as the key to global prosperity and stability. U.S. and international policy-makers will find these insightful discussions valuable in forming new policy and providing the appropriate stimulus for economic development in emerging economies.

Executive Compensation in Imperfect Financial Markets

Author : Jay Cullen
Publisher : Edward Elgar Publishing
ISBN 13 : 1782549293
Total Pages : 259 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis Executive Compensation in Imperfect Financial Markets by : Jay Cullen

Download or read book Executive Compensation in Imperfect Financial Markets written by Jay Cullen and published by Edward Elgar Publishing. This book was released on 2014-10-23 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book discusses the issue of executive compensation in Anglo-American financial markets following the financial crisis. The book begins by contextualizing the problem facing financial institutions in the US and the UK and argues that appr

History, Methodology and Identity for a 21st Century Social Economics

Author : Wilfred Dolfsma
Publisher : Routledge
ISBN 13 : 042957536X
Total Pages : 244 pages
Book Rating : 4.4/5 (295 download)

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Book Synopsis History, Methodology and Identity for a 21st Century Social Economics by : Wilfred Dolfsma

Download or read book History, Methodology and Identity for a 21st Century Social Economics written by Wilfred Dolfsma and published by Routledge. This book was released on 2019-05-28 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book seeks to advance social economic analysis, economic methodology, and the history of economic thought in the context of twenty-first-century scholarship and socio-economic concerns. Bringing together carefully selected chapters by leading scholars it examines the central contributions that John Davis has made to various areas of scholarship. In recent decades, criticisms of mainstream economics have rekindled interest in a number of areas of scholarly inquiry that were frequently ignored by mainstream economic theory and practice during the second half of the twentieth century, including social economics, economic methodology and history of economic thought. This book contributes to a growing literature on the revival of these areas of scholarship and highlights the pivotal role that John Davis’s work has played in the ongoing revival. Together, the international panel of contributors show how Davis’s insights in complexity theory, identity, and stratification are key to understanding a reconfigured economic methodology. They also reveal that Davis’s willingness to draw from multiple academic disciplines gives us a platform for interrogating mainstream economics and provides the basis for a humane yet scientific alternative. This unique volume will be essential reading for advanced students and researchers across social economics, history of economic thought, economic methodology, political economy and philosophy of social science.

An Introduction to Socio-Finance

Author : Jørgen Vitting Andersen
Publisher : Springer Science & Business Media
ISBN 13 : 3642419445
Total Pages : 194 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis An Introduction to Socio-Finance by : Jørgen Vitting Andersen

Download or read book An Introduction to Socio-Finance written by Jørgen Vitting Andersen and published by Springer Science & Business Media. This book was released on 2013-12-11 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This introductory text is devoted to exposing the underlying nature of price formation in financial markets as a predominantly sociological phenomenon that relates individual decision-making to emergent and co-evolving social and financial structures. Two different levels of this sociological influence are considered: First, we examine how price formation results from the social dynamics of interacting individuals, where interaction occurs either through the price or by direct communication. Then the same processes are revisited and examined at the level of larger groups of individuals. In this book, models of both levels of socio-finance are presented, and it is shown, in particular, how complexity theory provides the conceptual and methodological tools needed to understand and describe such phenomena. Accordingly, readers are first given a broad introduction to the standard economic theory of rational financial markets and will come to understand its shortcomings with the help of concrete examples. Complexity theory is then introduced in order to properly account for behavioral decision-making and match the observed market dynamics. This book is conceived as a primer for newcomers to the field, as well as for practitioners seeking new insights into the field of complexity science applied to socio-economic systems in general, and financial markets and price formation in particular.

The Handbook on Reasoning-Based Intelligent Systems

Author : Kazumi Nakamatsu
Publisher : World Scientific
ISBN 13 : 9814329487
Total Pages : 680 pages
Book Rating : 4.8/5 (143 download)

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Book Synopsis The Handbook on Reasoning-Based Intelligent Systems by : Kazumi Nakamatsu

Download or read book The Handbook on Reasoning-Based Intelligent Systems written by Kazumi Nakamatsu and published by World Scientific. This book was released on 2013 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book consists of various contributions in conjunction with the keywords OC reasoningOCO and OC intelligent systemsOCO, which widely covers theoretical to practical aspects of intelligent systems. Therefore, it is suitable for researchers or graduate students who want to study intelligent systems generally."

Money in Economic Theory

Author : Hasse Ekstedt
Publisher : Routledge
ISBN 13 : 0415697395
Total Pages : 314 pages
Book Rating : 4.4/5 (156 download)

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Book Synopsis Money in Economic Theory by : Hasse Ekstedt

Download or read book Money in Economic Theory written by Hasse Ekstedt and published by Routledge. This book was released on 2013 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that the treatment of money and monetary matters in economic theory has traditionally been incomplete and inconsistent, and puts forward a new approach both to money and to its role in economic theory.

The Fat Tail

Author : Ian Bremmer
Publisher : Oxford University Press
ISBN 13 : 0199750807
Total Pages : 273 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis The Fat Tail by : Ian Bremmer

Download or read book The Fat Tail written by Ian Bremmer and published by Oxford University Press. This book was released on 2010-05-13 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Ian Bremmer and Preston Keat reveal in this innovative book, volatile political events such as the 2008 Georgia-Russia confrontation--and their catastrophic effects on business--happen much more frequently than investors imagine. On the curve that charts both the frequency of these events and the power of their impact, the "tail" of extreme political instability is not reassuringly thin but dangerously fat. Featuring a new Foreward that accounts for the cataclysmic effects of the 2008 financial crisis, The Fat Tail is the first book to both identify the wide range of political risks that global firms face and show investors how to effectively manage them. Written by two of the world's leading figures in political risk management, it reveals that while the world remains exceedingly risky for businesses, it is by no means incomprehensible. Political risk is unpredictable, but it is easier to analyze and manage than most people think. Applying the lessons of world history, Bremmer and Keat survey a vast range of contemporary risky situations, from stable markets like the United States or Japan, where politically driven regulation can still dramatically effect business, to more precarious places like Iran, China, Russia, Turkey, Mexico, and Nigeria, where private property is less secure and energy politics sparks constant volatility. The book sheds light on a wide array of political risks--risks that stem from great power rivalries, terrorist groups, government takeover of private property, weak leaders and internal strife, and even the "black swans" that defy prediction. But more importantly, the authors provide a wealth of unique methods, tools, and concepts to help corporations, money managers, and policy makers understand political risk, showing when and how political risk analysis works--and when it does not. "The Fat Tail delivers practical wisdom on the impact of political risk on firms of every description and valuable advice on how to use it. Ian Bremmer and Preston Keat offer innovative thinking and useful insight that will help business decision-makers find fresh answers to questions they may not yet know they have." --Fareed Zakaria, best-selling author of The Post-American World "Political risk has become increasingly complex, and The Fat Tail provides a truly new way to quantitatively assess it in established and emerging markets. It is essential reading for any CEO with multinational interests." --Randall Stephenson, Chairman, CEO and President, AT&T Inc. "Should be essential reading for anyone involved in international business even--perhaps especially--in places that seem politically stable." --Bill Emmott, former editor-in-chief of The Economist

Real-World Decision Making

Author : Morris Altman
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1440828164
Total Pages : 532 pages
Book Rating : 4.4/5 (48 download)

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Book Synopsis Real-World Decision Making by : Morris Altman

Download or read book Real-World Decision Making written by Morris Altman and published by Bloomsbury Publishing USA. This book was released on 2015-06-23 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first and only encyclopedia to focus on the economic and financial behaviors of consumers, investors, and organizations, including an exploration of how people make good—and bad—economic decisions. Traditional economic theories speculate how and when people should spend money. But consumers don't always behave as expected and often adopt strategies that might appear unorthodox yet are, at times, more effective than the rule prescribed by conventional wisdom. This groundbreaking text examines the ways in which people make financial decisions, whether it is because they are smart but atypical in their choices ... or just irrational decision makers. A leading authority on behavioral economics, Morris Altman and more than 150 expert contributors delve into key concepts in behavioral economics, economic psychology, behavioral finance, neuroeconomics, experimental economics, and institutional economics to help inform economic models based on reality, not theory. Through 250 informative entries, the book explores various aspects of the subject including decision making, economic analysis, and public policy. In addition to introducing concepts to readers new to the subject, the book sheds light on more advanced financial topics in a manner that is objective, comprehensive, and accessible.

Economics and Performativity

Author : Nicolas Brisset
Publisher : Routledge
ISBN 13 : 1351620940
Total Pages : 300 pages
Book Rating : 4.3/5 (516 download)

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Book Synopsis Economics and Performativity by : Nicolas Brisset

Download or read book Economics and Performativity written by Nicolas Brisset and published by Routledge. This book was released on 2018-07-27 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists do more than merely describe an external economic world. They shape it in the image of their theories and models. This idea, following the philosophy of language, puts forward that economic theories are performative, and not only descriptive. This idea has become a powerful critique of the scientificity of economics since it removes the idea of an external world against which our description could be evaluated as truth. If any theory can become true, there are no true theories per se because there is no such thing as a pre-existing economy to describe. Is such a relativist stance a fatality? This is the question at stake in this book. Furthermore, the author asks if any theory is able to ‘perform’ the social reality, or are there actually some limits to performativity? For philosophers, a performative statement is a statement that cannot fail to mean something, but can fail to do what it calls for. The state of the world may or may not be changed; the performative statement may be happy or unhappy. In economic terms, this can be interpreted as: some theories change the world while some do not. This book argues that this possibility of failure, a perspective previously missing from discussions on the subject, should be at the heart of any definition of failure. Taking on the question of why some theories change the world while others do not, this volume will be of interest to those studying advances courses on the philosophy of economics as well as those studying and researching in the areas of the philosophy of sciences and sociology of science and economics.

Forecast

Author : Mark Buchanan
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1608198529
Total Pages : 273 pages
Book Rating : 4.6/5 (81 download)

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Book Synopsis Forecast by : Mark Buchanan

Download or read book Forecast written by Mark Buchanan and published by Bloomsbury Publishing USA. This book was released on 2013-03-26 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Picture an early scene from The Wizard of Oz: Dorothy hurries home as a tornado gathers in what was once a clear Kansas sky. Hurriedly, she seeks shelter in the storm cellar under the house, but, finding it locked, takes cover in her bedroom. We all know how that works out for her. Many investors these days are a bit like Dorothy, putting their faith in something as solid and trustworthy as a house (or, say, real estate). But market disruptions--storms--seem to arrive without warning, leaving us little time to react. Why are we so often blindsided by these things, left outdoors with nothing but our little dogs? More to the point: how did Kansas go from blue skies to tornadoes in such a short time? In this deeply researched and piercingly intelligent book, physicist Mark Buchanan shows how a simple feedback loop can lead to major consequences, the kind predictable by mathematical models but hard for most people to anticipate. From his unique perspective, Buchanan argues that our basic assumptions about economic markets--that they are for the most part stable, with occasional interruptions--are simply wrong. Markets really act more like the weather: a brief heat wave can become a massive storm in a matter of a few days, or even hours. The Physics of Finance reimagines the basics of how economics, with consequences that affect everyone.

Risk

Author :
Publisher :
ISBN 13 :
Total Pages : 480 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Risk by :

Download or read book Risk written by and published by . This book was released on 1999 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Wool Markets and Sheep

Author :
Publisher :
ISBN 13 :
Total Pages : 686 pages
Book Rating : 4.:/5 (89 download)

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Book Synopsis Wool Markets and Sheep by :

Download or read book Wool Markets and Sheep written by and published by . This book was released on 1902 with total page 686 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Wall Street Journal

Author :
Publisher :
ISBN 13 :
Total Pages : 1220 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis The Wall Street Journal by :

Download or read book The Wall Street Journal written by and published by . This book was released on 2002 with total page 1220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Evolution of Beauty

Author : Richard O. Prum
Publisher : Anchor
ISBN 13 : 0345804570
Total Pages : 465 pages
Book Rating : 4.3/5 (458 download)

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Book Synopsis The Evolution of Beauty by : Richard O. Prum

Download or read book The Evolution of Beauty written by Richard O. Prum and published by Anchor. This book was released on 2018-04-03 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major reimagining of how evolutionary forces work, revealing how mating preferences—what Darwin termed "the taste for the beautiful"—create the extraordinary range of ornament in the animal world. "A delicious read, both seductive and mutinous.... Minutely detailed, exquisitely observant, deeply informed, and often tenderly sensual."—New York Times Book Review In the great halls of science, dogma holds that Darwin's theory of natural selection explains every branch on the tree of life: which species thrive, which wither away to extinction, and what features each evolves. But can adaptation by natural selection really account for everything we see in nature? Yale University ornithologist Richard Prum—reviving Darwin's own views—thinks not. Deep in tropical jungles around the world are birds with a dizzying array of appearances and mating displays: Club-winged Manakins who sing with their wings, Great Argus Pheasants who dazzle prospective mates with a four-foot-wide cone of feathers covered in golden 3D spheres, Red-capped Manakins who moonwalk. In thirty years of fieldwork, Prum has seen numerous display traits that seem disconnected from, if not outright contrary to, selection for individual survival. To explain this, he dusts off Darwin's long-neglected theory of sexual selection in which the act of choosing a mate for purely aesthetic reasons—for the mere pleasure of it—is an independent engine of evolutionary change. Mate choice can drive ornamental traits from the constraints of adaptive evolution, allowing them to grow ever more elaborate. It also sets the stakes for sexual conflict, in which the sexual autonomy of the female evolves in response to male sexual control. Most crucially, this framework provides important insights into the evolution of human sexuality, particularly the ways in which female preferences have changed male bodies, and even maleness itself, through evolutionary time. The Evolution of Beauty presents a unique scientific vision for how nature's splendor contributes to a more complete understanding of evolution and of ourselves.

Rivista internazionale di scienze sociali

Author :
Publisher :
ISBN 13 :
Total Pages : 610 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Rivista internazionale di scienze sociali by :

Download or read book Rivista internazionale di scienze sociali written by and published by . This book was released on 2007 with total page 610 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The (Mis)Behaviour of Markets

Author : Benoit B. Mandelbrot
Publisher : Profile Books
ISBN 13 : 1847651550
Total Pages : 352 pages
Book Rating : 4.8/5 (476 download)

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Book Synopsis The (Mis)Behaviour of Markets by : Benoit B. Mandelbrot

Download or read book The (Mis)Behaviour of Markets written by Benoit B. Mandelbrot and published by Profile Books. This book was released on 2010-10-01 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This international bestseller, which foreshadowed a market crash, explains why it could happen again if we don't act now. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous - and beautiful. In his models, the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.

The Poverty of Historicism

Author : Karl Popper
Publisher : Routledge
ISBN 13 : 1135972214
Total Pages : 184 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis The Poverty of Historicism by : Karl Popper

Download or read book The Poverty of Historicism written by Karl Popper and published by Routledge. This book was released on 2013-09-05 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: On its publication in 1957, The Poverty of Historicism was hailed by Arthur Koestler as 'probably the only book published this year which will outlive the century.' A devastating criticism of fixed and predictable laws in history, Popper dedicated the book to all those 'who fell victim to the fascist and communist belief in Inexorable Laws of Historical Destiny.' Short and beautifully written, it has inspired generations of readers, intellectuals and policy makers. One of the most important books on the social sciences since the Second World War, it is a searing insight into the ideas of this great thinker.