Beyond Mechanical Markets

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Publisher : Princeton University Press
ISBN 13 : 1400838185
Total Pages : 304 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Beyond Mechanical Markets by : Roman Frydman

Download or read book Beyond Mechanical Markets written by Roman Frydman and published by Princeton University Press. This book was released on 2011-02-07 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful challenge to contemporary economics and a new agenda for global finance In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest on the same fatal assumption—that markets act mechanically and economic change is fully predictable. In Beyond Mechanical Markets, Frydman and Goldberg show how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies, and what role government can and can't play. The financial crisis, Frydman and Goldberg argue, was made more likely, if not inevitable, by contemporary economic theory, yet its core tenets remain unchanged today. In response, the authors show how imperfect knowledge economics, an approach they pioneered, provides a better understanding of markets and the financial crisis. Frydman and Goldberg deliver a withering critique of the widely accepted view that the boom in equity prices that ended in 2007 was a bubble fueled by herd psychology. They argue, instead, that price swings are driven by individuals' ever-imperfect interpretations of the significance of economic fundamentals for future prices and risk. Because swings are at the heart of a dynamic economy, reforms should aim only to curb their excesses. Showing why we are being dangerously led astray by thinking of markets as predictably rational or irrational, Beyond Mechanical Markets presents a powerful challenge to conventional economic wisdom that we can't afford to ignore.

Conducting Online Research on Amazon Mechanical Turk and Beyond

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Author :
Publisher : SAGE Publications
ISBN 13 : 1506391141
Total Pages : 297 pages
Book Rating : 4.5/5 (63 download)

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Book Synopsis Conducting Online Research on Amazon Mechanical Turk and Beyond by : Leib Litman

Download or read book Conducting Online Research on Amazon Mechanical Turk and Beyond written by Leib Litman and published by SAGE Publications. This book was released on 2020-05-12 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conducting Online Research on Amazon Mechanical Turk and Beyond, by Leib Litman and Jonathan Robinson, provides researchers with step-by-step technical information on this important research platform. The book gives a broad view of the MTurk ecosystem and customs, hones in on common researcher pitfalls, and provides detailed data on sampling, ethics, and experimentation.

Mechanical Trading Systems

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Publisher : John Wiley & Sons
ISBN 13 : 0471654353
Total Pages : 241 pages
Book Rating : 4.4/5 (716 download)

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Book Synopsis Mechanical Trading Systems by : Richard L. Weissman

Download or read book Mechanical Trading Systems written by Richard L. Weissman and published by John Wiley & Sons. This book was released on 2005 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: It also provides a detailed examination of the personality traits common to the three basic types of trader - trend-following (long to intermediate term), mean reversion (intermediate-term), and short-term (swing and day traders) - and illustrates how a strict adherence to specific types of trading systems can foster a psychological flexibility that will allow you to succeed in all kinds of trading environments: countertrending, choppy, or trending."--Jacket.

Beyond the Mechanical Universe

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Publisher : Cambridge University Press
ISBN 13 : 052130430X
Total Pages : 589 pages
Book Rating : 4.5/5 (213 download)

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Book Synopsis Beyond the Mechanical Universe by : Richard P. Olenick

Download or read book Beyond the Mechanical Universe written by Richard P. Olenick and published by Cambridge University Press. This book was released on 1986-12-26 with total page 589 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1987 book studies electricity and magnetism, light, the special theory of relativity and modern physics.

Conducting Online Research on Amazon Mechanical Turk and Beyond

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Author :
Publisher : SAGE Publications
ISBN 13 : 1506391125
Total Pages : 372 pages
Book Rating : 4.5/5 (63 download)

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Book Synopsis Conducting Online Research on Amazon Mechanical Turk and Beyond by : Leib Litman

Download or read book Conducting Online Research on Amazon Mechanical Turk and Beyond written by Leib Litman and published by SAGE Publications. This book was released on 2020-05-12 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conducting Online Research on Amazon Mechanical Turk® and Beyond, written by Leib Litman and Jonathan Robinson, provides both students and experienced researchers with essential information about the online platforms most often used for social science research. This insightful and accessible text answers common questions like, "How do I maintain data quality in online studies?," "What is the best way to recruit hard-to-reach samples?" and "How can researchers navigate the ethical issues that are unique to online research?" Drawing on their experiences as the founders of CloudResearch (formerly TurkPrime), the authors provide information that guides new users planning their first online studies and engages even the most experienced researchers with detailed discussions about the challenges of online research. The book begins with an overview of Amazon’s Mechanical Turk and its rapid rise within academic research. Then, the authors describe how to set up an MTurk study with screenshots that walk readers through the steps of creating an account, designing a study, collecting data, and using third-party applications to enhance MTurk’s functionality. Later chapters provide readers with a detailed understanding of the MTurk environment and use data from hundreds of thousands of participants and tens of millions of completed tasks to dive into issues like participant demographics, sources of sampling bias, and the generalizability of findings from MTurk. Finally, the book explores the benefits of using other online platforms as a complement to MTurk and the ethical issues that are unique to conducting research with online participant platforms. Throughout the book, the authors share hands-on advice and best practices, such as those for conducting longitudinal studies or carrying out complex studies. Altogether the mix of data, insight, and advice make this book an essential resource for researchers who want to understand the online environment and the most effective ways to conduct research online.

Rethinking Expectations

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Author :
Publisher : Princeton University Press
ISBN 13 : 1400846455
Total Pages : 440 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Rethinking Expectations by : Roman Frydman

Download or read book Rethinking Expectations written by Roman Frydman and published by Princeton University Press. This book was released on 2013-01-23 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis. However, in their provocative introductory essay, Roman Frydman and Edmund Phelps argue that the vast majority of macroeconomic and finance models developed over the last four decades derailed, rather than built on, the Phelps volume's "microfoundations" approach. Whereas the contributors to the 1970 volume recognized the fundamental importance of according market participants' expectations an autonomous role, contemporary models rely on the rational expectations hypothesis (REH), which rules out such a role by design. The financial crisis that began in 2007, preceded by a spectacular boom and bust in asset prices that REH models implied could never happen, has spurred a quest for fresh approaches to macroeconomic analysis. While the alternatives to REH presented in Rethinking Expectations differ from the approach taken in the original Phelps volume, they are notable for returning to its major theme: understanding aggregate outcomes requires according expectations an autonomous role. In the introductory essay, Frydman and Phelps interpret the various efforts to reconstruct the field--some of which promise to chart its direction for decades to come. The contributors include Philippe Aghion, Sheila Dow, George W. Evans, Roger E. A. Farmer, Roman Frydman, Michael D. Goldberg, Roger Guesnerie, Seppo Honkapohja, Katarina Juselius, Enisse Kharroubi, Blake LeBaron, Edmund S. Phelps, John B. Taylor, Michael Woodford, and Gylfi Zoega.

Emerging Markets in an Upside Down World

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Publisher : John Wiley & Sons
ISBN 13 : 111887966X
Total Pages : 258 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis Emerging Markets in an Upside Down World by : Jerome Booth

Download or read book Emerging Markets in an Upside Down World written by Jerome Booth and published by John Wiley & Sons. This book was released on 2014-06-03 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is upside down. The emerging market countries are more important than many investors realise. They have been catching up with the West over the past few decades. Greater market freedom has spread since the end of the Cold War, and with it institutional changes which have further assisted emerging economies in becoming more productive, flexible, and resilient. The Western financial crisis from 2008 has quickened the pace of the relative rise of emerging markets - their relative economic power, and with it political power, but also their financial power as savers, investors and creditors. Emerging Markets in an Upside Down World - Challenging Perceptions in Asset Allocation and Investment argues that finance theory has misunderstood risk and that this has led to poor investment decisions; and that emerging markets constitute a good example of why traditional finance theory is faulty. The book accurately describes the complex and changing global environment currently facing the investor and asset allocator. It raises many questions often bypassed because of the use of simplifying assumptions and models. The narrative builds towards a checklist of issues and questions for the asset allocator and investor and then to a discussion of a variety of regulatory and policy issues. Aimed at institutional and retail investors as well as economics, finance, business and international relations students, Emerging Markets in an Upside Down World covers many complex ideas, but is written to be accessible to the non-expert.

Market, Ethics and Religion

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Author :
Publisher : Springer Nature
ISBN 13 : 3031084624
Total Pages : 301 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis Market, Ethics and Religion by : Niels Kærgård

Download or read book Market, Ethics and Religion written by Niels Kærgård and published by Springer Nature. This book was released on 2023-01-18 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the basic question of what money can and cannot buy and offers an analysis of the limitations of the market mechanism. Few concepts are as controversial as religion and the market mechanism. Some consider religion to be in conflict with a modern rational scientific view of life, and thus as a contributory cause of harsh conflicts and a barrier to human happiness. Others consider religious beliefs as the foundation for ethics and decent behaviour. Similar, a number of neoliberal writers acclaimed the market mechanism as one of the greatest triumphs of the human mind, and saw it as the main reason why rich countries became rich. Others are extremely skeptical and stress how this mechanism has result in big multinational firms with powerfully rich owners and masses of poor low-paid workers. Researchers from various fields - economists, social scientists, theologians and philosophers - handle these questions very differently, applying different methods and different ideals. This book offers a synthesis of the different viewpoints. It deals with economists’, theologians’ and philosophers’ differing thoughts about the market and its limitations.

Beyond Technical Analysis

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Publisher : John Wiley & Sons
ISBN 13 : 9780471415671
Total Pages : 412 pages
Book Rating : 4.4/5 (156 download)

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Book Synopsis Beyond Technical Analysis by : Tushar S. Chande

Download or read book Beyond Technical Analysis written by Tushar S. Chande and published by John Wiley & Sons. This book was released on 2001-05-24 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Der Klassiker zur technischen Analyse erscheint jetzt in der 2. überarbeiteten, aktualisierten und erweiterten Auflage. Diese Neuauflage bietet eine interessante Mischung aus topaktuellen Techniken und Analyseverfahren, Strategien, zeitlos gültigen Grundsätzen und praktischen Tipps. Sie liefert umfassende Information für die Entwicklung und Implementierung eines eigenen Handelssystems und stellt so eine Verbindung her zwischen Analyse und Ausführung. Neu aufgenommen wurde eine Einführung in die technische Analyse sowie Material zu Einstiegs- und Ausstiegsstrategien, zur Aktienanalyse und zu Chandes neuer bahnbrechender Arbeit über die 'Comfort Zone' für richtiges Risiko- und Geldmanagement. "Beyond Technical Analysis" ist ein praktischer Leitfaden für versierte Händler und Neulinge gleichermaßen. Mit umfangreichem Beispielmaterial zu allen neu eingeführten Techniken, einschließlich Aktienfonds und offenen Investmentfonds!

Doing Capitalism in the Innovation Economy

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Publisher :
ISBN 13 : 1108471277
Total Pages : 465 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis Doing Capitalism in the Innovation Economy by : William H. Janeway

Download or read book Doing Capitalism in the Innovation Economy written by William H. Janeway and published by . This book was released on 2018-05-17 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shows how the digital revolution, sponsored by government and funded by speculation, now challenges the authority and legitimacy of the state.

Capitalism, Macroeconomics and Reality

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Publisher : Edward Elgar Publishing
ISBN 13 : 1784719021
Total Pages : 448 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Capitalism, Macroeconomics and Reality by : James Crotty

Download or read book Capitalism, Macroeconomics and Reality written by James Crotty and published by Edward Elgar Publishing. This book was released on 2017-04-28 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays comprising this collection analyze the deep flaws in the methodological foundation of mainstream economic theory, and explain how these flaws make mainstream economics more ideology than sound social science. James Crotty develops alternative theories built on realistic assumptions that can explain most of the disastrous economic and financial developments of the past four decades. His work contributes to the collective creation of a solid theoretical foundation on which to build an understanding of the ‘laws of motion’ of capitalism in the post WWII era.

The Nobel Factor

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Publisher : Princeton University Press
ISBN 13 : 1400883415
Total Pages : 344 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Nobel Factor by : Avner Offer

Download or read book The Nobel Factor written by Avner Offer and published by Princeton University Press. This book was released on 2016-10-03 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the creation of the Nobel Prize in Economics changed the economics profession, Sweden, and the world Economic theory may be speculative, but its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world—the "market turn." This is what Avner Offer and Gabriel Söderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets. Drawing on previously untapped Swedish national bank archives and providing a unique analysis of the sway of prizewinners, The Nobel Factor offers an unprecedented account of the real-world consequences of economics—and its greatest prize.

The Market Is Always Right

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Author :
Publisher : McGraw Hill Professional
ISBN 13 : 0071416102
Total Pages : 253 pages
Book Rating : 4.0/5 (714 download)

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Book Synopsis The Market Is Always Right by : Thomas A. McCafferty

Download or read book The Market Is Always Right written by Thomas A. McCafferty and published by McGraw Hill Professional. This book was released on 2002-11-22 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rules for successful trading, direct from the traders who practice them every day Even with today's high-speed computers, online accounts, and information access, traders still live or die based on their abilities to control fear, greed, and emotion. The Market Is Always Right gives traders battle-proven advice for avoiding common trading setbacks by understanding human natureboth their own and others'and directing it toward profitable outcomes. Distilling the wisdom of hundreds of traders, this proactive book starts with 10 overriding rulesfor example, "Evaluate your performance"and then lists the subrules within each, such as "Qualify and quantify your trading pattern." Other examples include: Never chase trades Watch the opendon't trade it When in doubt, get out

Philosophy of Economics

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Publisher : Springer
ISBN 13 : 1137318759
Total Pages : 358 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis Philosophy of Economics by : D. Ross

Download or read book Philosophy of Economics written by D. Ross and published by Springer. This book was released on 2016-04-30 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Don Ross provides a concise and distinct introduction to the philosophy of economics for students in need of a short but engaging study of the main issues in the subject today. Ross offers his own provocative interpretation of the value of economics in science and public policy giving a unique perspective from a world authority.

Beyond Engineering

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Publisher : Oxford University Press
ISBN 13 : 0190283076
Total Pages : 368 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis Beyond Engineering by : Robert Pool

Download or read book Beyond Engineering written by Robert Pool and published by Oxford University Press. This book was released on 1997-07-17 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: We have long recognized technology as a driving force behind much historical and cultural change. The invention of the printing press initiated the Reformation. The development of the compass ushered in the Age of Exploration and the discovery of the New World. The cotton gin created the conditions that led to the Civil War. Now, in Beyond Engineering, science writer Robert Pool turns the question around to examine how society shapes technology. Drawing on such disparate fields as history, economics, risk analysis, management science, sociology, and psychology, Pool illuminates the complex, often fascinating interplay between machines and society, in a book that will revolutionize how we think about technology. We tend to think that reason guides technological development, that engineering expertise alone determines the final form an invention takes. But if you look closely enough at the history of any invention, says Pool, you will find that factors unrelated to engineering seem to have an almost equal impact. In his wide-ranging volume, he traces developments in nuclear energy, automobiles, light bulbs, commercial electricity, and personal computers, to reveal that the ultimate shape of a technology often has as much to do with outside and unforeseen forces. For instance, Pool explores the reasons why steam-powered cars lost out to internal combustion engines. He shows that the Stanley Steamer was in many ways superior to the Model T--it set a land speed record in 1906 of more than 127 miles per hour, it had no transmission (and no transmission headaches), and it was simpler (one Stanley engine had only twenty-two moving parts) and quieter than a gas engine--but the steamers were killed off by factors that had little or nothing to do with their engineering merits, including the Stanley twins' lack of business acumen and an outbreak of hoof-and-mouth disease. Pool illuminates other aspects of technology as well. He traces how seemingly minor decisions made early along the path of development can have profound consequences further down the road, and perhaps most important, he argues that with the increasing complexity of our technological advances--from nuclear reactors to genetic engineering--the number of things that can go wrong multiplies, making it increasingly difficult to engineer risk out of the equation. Citing such catastrophes as Bhopal, Three Mile Island, the Exxon Valdez, the Challenger, and Chernobyl, he argues that is it time to rethink our approach to technology. The days are gone when machines were solely a product of larger-than-life inventors and hard-working engineers. Increasingly, technology will be a joint effort, with its design shaped not only by engineers and executives but also psychologists, political scientists, management theorists, risk specialists, regulators and courts, and the general public. Whether discussing bovine growth hormone, molten-salt reactors, or baboon-to-human transplants, Beyond Engineering is an engaging look at modern technology and an illuminating account of how technology and the modern world shape each other.

Banking in Crisis

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Publisher : Cambridge University Press
ISBN 13 : 1107030943
Total Pages : 267 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Banking in Crisis by : John D. Turner

Download or read book Banking in Crisis written by John D. Turner and published by Cambridge University Press. This book was released on 2014-07-10 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: A full account of the rise and fall of British banking stability which sheds new light on why banking systems crash.

Behavioral Economics

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Author :
Publisher : Springer
ISBN 13 : 3319752057
Total Pages : 234 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis Behavioral Economics by : Fabrizio Ghisellini

Download or read book Behavioral Economics written by Fabrizio Ghisellini and published by Springer. This book was released on 2018-07-06 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets the agenda to turn behavioral economics, which has long been considered a subordinate discipline, into mainstream economics. Ghisellini and Chang expose the conceptual and empirical inadequacy of conventional economics using illustrations of real world decision-making in a dynamic environment, including evidence from the global financial crisis. With a rigorous yet accessible style, they give a comprehensive overview of behavioral economics and of the current state of play in the field across different schools of thought. Seven major conceptual problems still affecting the development of behavioral economics are identified and the authors propose research avenues to address these issues and allow the discipline to receive its long-awaited recognition. Crucial reading for researchers and students looking for insights into the many unsolved problems of economics.