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Instability Of Belief Free Equilibria
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Book Synopsis Instability of Belief-Free Equilibria by : Yuval Heller
Download or read book Instability of Belief-Free Equilibria written by Yuval Heller and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Various papers have presented folk theorem results for repeated games with private monitoring that rely on belief-free equilibria. I show that these equilibria are not robust against small perturbations in the behavior of potential opponents. Specifically, I show that essentially none of the belief-free equilibria is evolutionarily stable, and that in generic games none of these equilibria is neutrally stable. Moreover, in a large family of games (which includes many public good games), the belief-free equilibria fail to satisfy even a very mild stability refinement.
Book Synopsis Reflection and the Stability of Belief by : Louis E. Loeb
Download or read book Reflection and the Stability of Belief written by Louis E. Loeb and published by Oxford University Press on Demand. This book was released on 2010 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unifying theme of Loeb's work is epistemological - that Descartes and Hume advance theories of knowledge that rely on a substantial 'naturalistic' component, adopting one or another member of a cluster of psychological properties of beliefs as the goal of inquiry and the standard for assessing belief-forming mechanisms. Thus Loeb shows a surprising affinity between the epistemologies of the two figures -- surprising because they are often thought of as polar opposites in this respect. Descartes and Hume are unique in that their philosophical texts are accessible beyond just a narrow audience in the history of philosophy; their ideas continue to be a vital part of the field at large. This volume will thus appeal to advanced students and scholars not just in the history of early modern philosophy but in epistemology and other core areas of the discipline.
Book Synopsis Mathematical Models in Epidemiology by : Fred Brauer
Download or read book Mathematical Models in Epidemiology written by Fred Brauer and published by Springer Nature. This book was released on 2019-10-10 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is a comprehensive, self-contained introduction to the mathematical modeling and analysis of disease transmission models. It includes (i) an introduction to the main concepts of compartmental models including models with heterogeneous mixing of individuals and models for vector-transmitted diseases, (ii) a detailed analysis of models for important specific diseases, including tuberculosis, HIV/AIDS, influenza, Ebola virus disease, malaria, dengue fever and the Zika virus, (iii) an introduction to more advanced mathematical topics, including age structure, spatial structure, and mobility, and (iv) some challenges and opportunities for the future. There are exercises of varying degrees of difficulty, and projects leading to new research directions. For the benefit of public health professionals whose contact with mathematics may not be recent, there is an appendix covering the necessary mathematical background. There are indications which sections require a strong mathematical background so that the book can be useful for both mathematical modelers and public health professionals.
Book Synopsis Stabilizing an Unstable Economy by : Hyman P. Minsky
Download or read book Stabilizing an Unstable Economy written by Hyman P. Minsky and published by McGraw Hill Professional. This book was released on 2008-05-01 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Mr. Minsky long argued markets were crisis prone. His 'moment' has arrived.” -The Wall Street Journal In his seminal work, Minsky presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers: The natural inclination of complex, capitalist economies toward instability Booms and busts as unavoidable results of high-risk lending practices “Speculative finance” and its effect on investment and asset prices Government's role in bolstering consumption during times of high unemployment The need to increase Federal Reserve oversight of banks Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction. A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase “Minsky moment” to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.
Book Synopsis Dynamic Economic Systems by : John M. Blatt
Download or read book Dynamic Economic Systems written by John M. Blatt and published by Routledge. This book was released on 2019-07-29 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future of the Common Law judicial system in Hong Kong depends on the perceptions of it by Hong Kong's Chinese population, judicial developments prior to July 1, 1997, when Hong Kong passes from British to Chinese control, and the Basic Law. These critical issues are addressed in this book.
Book Synopsis Estimating Equilibrium Exchange Rates by : John Williamson
Download or read book Estimating Equilibrium Exchange Rates written by John Williamson and published by Peterson Institute. This book was released on 1994 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problems of exchange rate misalignments and the resulting payments imbalances have plagued the world economy for decades. At the Louvre Accord of 1987, the Group of Five industrial countries adopted a system of reference ranges for exchange rate management, influenced by proposals of C. Fred Bergstan and John Williamson for a target zone system. The reference range approach has, however, been operated only intermittently and half-heartedly, and questions continue to be raised in policy and scholarly circles about the design and operation of a full-fledged target zone regime. This volume, with chapters by leading international economists, explores one crucial issue in the design of a target zone system: the problem of calculating Williamson's concept of the fundamental equilibrium exchange rate (FEER). Williamson contributes an overview of the policy and analytic issues and a second chapter on his own calculations.
Author :United States. Congress. House. Committee on Banking and Financial Services Publisher : ISBN 13 : Total Pages :476 pages Book Rating :4.0/5 ( download)
Book Synopsis International Economic Turmoil by : United States. Congress. House. Committee on Banking and Financial Services
Download or read book International Economic Turmoil written by United States. Congress. House. Committee on Banking and Financial Services and published by . This book was released on 1999 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Complexity and Equilibrium Illusion by : Ping Chen
Download or read book Economic Complexity and Equilibrium Illusion written by Ping Chen and published by Routledge. This book was released on 2010-04-05 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.
Book Synopsis Myths of the Free Market by : Kenneth S. Friedman
Download or read book Myths of the Free Market written by Kenneth S. Friedman and published by Algora Publishing. This book was released on 2003 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Myths of the Free Market is arguably the most significant book in economics and politics since John Maynard Keynes. It systematically presents a broad range of telling criticisms of free market economics, criticisms that have not been presented elsewhere. Despite our genuine faith in the free market, laissez faire has not maximized wealth. When we moved from the purer free market policies of the 1920s and early 1930s to the proto-socialism of Roosevelt, our economic growth increased. As we have moved back to a purer free market, growth has slowed. We have lagged our trading partners who have mixed economies. Nor is this new. In the late 1800s the mixed economies of Bismarck's Germany and Meiji Japan outperformed the relatively free market economies of Great Britain and France. It is worse. Even in principle, laissez faire cannot work - it is incompatible with institutions that increase wealth. Patent protection is one example, easily generalized. It is worse yet. Laissez faire promotes the excessive concentration of wealth and exposes us all to avoidable danger. Over the last millennium there has been a 200-300 year cycle of wealth dispersion. Each time wealth disparity grew beyond a critical point it presaged decline and disaster for all of society. We now have the greatest disparity of wealth in our history. Kenneth Friedman holds an MS in Physics and PhD in Philosophy of Science from MIT. He has been interviewed in Barron's and on CNBC and quoted in The Wall Street Journal.
Book Synopsis Foundations of Economics by : Yanis Varoufakis
Download or read book Foundations of Economics written by Yanis Varoufakis and published by Routledge. This book was released on 2002-01-08 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foundations of Economics breathes life into the discipline by linking key economic concepts with wider debates and issues. By bringing to light delightful mind-teasers, philosophical questions and intriguing politics in mainstream economics, it promises to enliven an otherwise dry course whilst inspiring students to do well. The book covers all the main economic concepts and addresses in detail three main areas: * consumption and choice * production and markets * government and the State. Each is discussed in terms of what the conventional textbook says, how these ideas developed in historical and philosophical terms and whether or not they make sense. Assumptions about economics as a discipline are challenged, and several pertinent students' anxieties ('Should I be studying economics?') are discussed.
Book Synopsis The Age of Insecurity by : Larry Elliott
Download or read book The Age of Insecurity written by Larry Elliott and published by Verso. This book was released on 1999-08-17 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that today's government should redirect its attention from controlling the lives and morals of citizens to controlling a financial system that is making society ever more precarious.
Download or read book Rapports written by and published by . This book was released on 1923 with total page 988 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Instabilities of Flows and Transition to Turbulence by : Tapan K. Sengupta
Download or read book Instabilities of Flows and Transition to Turbulence written by Tapan K. Sengupta and published by CRC Press. This book was released on 2012-04-24 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers material ranging from classical hydrodynamic instability to contemporary research areas, including bluff body flow instability and mixed convection flows. It also examines applications in aerospace and other branches of engineering such as fluid mechanics. The author addresses classical material as well as new perspectives and presents comprehensive coverage of receptivity to complement the instability material. This book presents a concise, up-to-date treatment of theory and applications of viscous flow instability, providing both current knowledge and techniques.
Book Synopsis Financial Fragility and Instability in Indonesia by : Yasuyuki Matsumoto
Download or read book Financial Fragility and Instability in Indonesia written by Yasuyuki Matsumoto and published by Routledge. This book was released on 2007-01-24 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly relevant study provides an incisive analysis of a critical phase in recent East Asian financial history, exploring the underlying causes of the financial crisis that struck Indonesia during the second half of 1997. Matsumoto’s extensive commercial experience in Indonesian finance during these critical years, allows him to skilfully argue that the roots of the crisis lay in the period of capital liberalization undertaken during the boom years from 1994 to 1997 which encouraged the development of fragile and unstable financial structures, involving increased corporate leverage, reliance on external debt, and the introduction of riskier and more complicated financial instruments and transactions. In-depth fieldwork data and four detailed case studies illuminate the microeconomic foundations of the crisis, showing how Indonesian capitalists sought to liquidate their Indonesian assets without losing control of their corporate empires, by taking advantage of increased access to foreign loans and complex financial re-engineering, actions which ultimately precipitated instability and crisis throughout the entire financial system. Finally, it reflects upon the policy implications of this episode, putting forward the case for comprehensive capital controls for open and developing economies until they establish appropriate financial institutions to monitor and manage the level of indebtedness and the volatility of capitalists’ behaviour.
Book Synopsis The Algebra of Revolution by : John Rees
Download or read book The Algebra of Revolution written by John Rees and published by Routledge. This book was released on 2005-06-23 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Algebra of Revolution is the first book to study Marxist method as it has been developed by the main representatives of the classical Marxist tradition, namely Marx and Engels, Luxembourg, Lenin, Lukacs, Gramsci and Trotsky. This book provides the only single volume study of major Marxist thinkers' views on the crucial question of the dialectic, connecting them with pressing contemporary, political and theoretical questions. John Rees's The Algebra of Revolution is vital reading for anyone interested in gaining a new and fresh perspective on Marxist thought and on the notion of the dialectic.
Book Synopsis Instability, Transition to Turbulence and Predictability by : Mark Vladimir Morkovin
Download or read book Instability, Transition to Turbulence and Predictability written by Mark Vladimir Morkovin and published by . This book was released on 1978 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium, Markets and Dynamics by : Cars H. Hommes
Download or read book Equilibrium, Markets and Dynamics written by Cars H. Hommes and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains essays in honour of Claus Weddepohl who, after 22 years, is retiring as professor of mathematical economics at the Department of Quantitative Economics of the University of Amsterdam. Claus Weddepohl may be viewed as th~ first Dutch mathematical economist in the general equi librium tradition of Arrow, Debreu and Hahn. The essays in this book are centered around the themes Equilibrium, Markets and Dynamics, that have been at the heart of Weddepohl's work on mathematical economics for more than three decades. The essays have been classified according to these three themes. Admittedly such a classification always is somewhat arbitrary, and most essays would in fact fit into two or even all three themes. The essays have been written by international as well as Dutch friends and colleagues including Weddepohl's former Ph. D. students. The book starts with a review of Claus Weddepohl's work by Roald Ramer, who has been working with him in Amsterdam for all those years. The review describes how Weddepohl became fascinated by general equilibrium theory in the early stages of his career, how he has been working on the theory of markets throughout his career, and how he turned to applications of nonlinear dynamics to price adjustment processes in a later stage of his career. The first part of the book, Equilibrium, collects essays with general equilib rium theory as the main theme.
