Risky Curves

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Risky Curves

Author : Daniel Friedman
Publisher : Routledge
ISBN 13 : 1317821246
Total Pages : 152 pages
Book Rating : 4.3/5 (178 download)

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Book Synopsis Risky Curves by : Daniel Friedman

Download or read book Risky Curves written by Daniel Friedman and published by Routledge. This book was released on 2014-02-05 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory has not yet been able to do better than supposedly naïve models that use rules of thumb, or that focus on the consumption possibilities and economic constraints facing the individual. The authors assert this by first revisiting the origins of orthodox theory. They then recount decades of failed attempts to obtain meaningful empirical validation or calibration of the theory. Estimated shapes and parameters of the "curves" have varied erratically from domain to domain (e.g., individual choice versus aggregate behavior), from context to context, from one elicitation mechanism to another, and even from the same individual at different time periods, sometimes just minutes apart. This book proposes the return to a simpler sort of scientific theory of risky choice, one that focuses not upon unobservable curves but rather upon the potentially observable opportunities and constraints facing decision makers. It argues that such an opportunities-based model offers superior possibilities for scientific advancement. At the very least, linear utility – in the presence of constraints - is a useful bar for the "curved" alternatives to clear.

Risky Curves

Author : Daniel Friedman
Publisher : Routledge
ISBN 13 : 1317821238
Total Pages : 171 pages
Book Rating : 4.3/5 (178 download)

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Book Synopsis Risky Curves by : Daniel Friedman

Download or read book Risky Curves written by Daniel Friedman and published by Routledge. This book was released on 2014-02-05 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory has not yet been able to do better than supposedly naïve models that use rules of thumb, or that focus on the consumption possibilities and economic constraints facing the individual. The authors assert this by first revisiting the origins of orthodox theory. They then recount decades of failed attempts to obtain meaningful empirical validation or calibration of the theory. Estimated shapes and parameters of the "curves" have varied erratically from domain to domain (e.g., individual choice versus aggregate behavior), from context to context, from one elicitation mechanism to another, and even from the same individual at different time periods, sometimes just minutes apart. This book proposes the return to a simpler sort of scientific theory of risky choice, one that focuses not upon unobservable curves but rather upon the potentially observable opportunities and constraints facing decision makers. It argues that such an opportunities-based model offers superior possibilities for scientific advancement. At the very least, linear utility – in the presence of constraints - is a useful bar for the "curved" alternatives to clear.

Human Factors and Systems Interaction

Author : Isabel L. Nunes
Publisher : AHFE Conference
ISBN 13 : 1964867304
Total Pages : 360 pages
Book Rating : 4.9/5 (648 download)

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Book Synopsis Human Factors and Systems Interaction by : Isabel L. Nunes

Download or read book Human Factors and Systems Interaction written by Isabel L. Nunes and published by AHFE Conference. This book was released on 2024-07-24 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proceedings of the 15th International Conference on Applied Human Factors and Ergonomics and the Affiliated Conferences, Nice, France, 24-27 July 2024.

Analysing and Interpreting the Yield Curve

Author : Moorad Choudhry
Publisher : John Wiley & Sons
ISBN 13 : 111817710X
Total Pages : 299 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis Analysing and Interpreting the Yield Curve by : Moorad Choudhry

Download or read book Analysing and Interpreting the Yield Curve written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2011-12-05 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: The yield curve is the defining indicator of the global debt capital markets, and an understanding of it is vital to the smooth running of the economy as a whole. All participants in the market, be they issuers of capital, investors or banking intermediaries, will have a need to estimate, interpret and understand the yield curve. Fund managers that accurately predict the shape and direction of the curve will consistently outperform those that do not. This groundbreaking new book offers: An intuitive account of a very important technical subject, cutting through the mathematics to reveal key concepts Market approaches to enable fund managers to evaluate the current and expected shape of the yield curve An opportunity for market professionals to have an understanding of the latest analytical techniques. Written by an experienced market practitioner, this book is a clear and accessible account of an important financial topic.

Research in Finance

Author : Andrew H. Chen
Publisher : Emerald Group Publishing
ISBN 13 : 0762312777
Total Pages : 367 pages
Book Rating : 4.7/5 (623 download)

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Book Synopsis Research in Finance by : Andrew H. Chen

Download or read book Research in Finance written by Andrew H. Chen and published by Emerald Group Publishing. This book was released on 2005-12-14 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains contributions on important topics in finance research. This volume includes topics such as the impact of reform in corporate governance, the stock price reactions to the joint venture announcements, the temperature, and the financial signals, the incentive effects in project finance with government financial guarantees, and more.

Discounting, LIBOR, CVA and Funding

Author : C. Kenyon
Publisher : Springer
ISBN 13 : 1137268522
Total Pages : 227 pages
Book Rating : 4.1/5 (372 download)

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Book Synopsis Discounting, LIBOR, CVA and Funding by : C. Kenyon

Download or read book Discounting, LIBOR, CVA and Funding written by C. Kenyon and published by Springer. This book was released on 2012-08-06 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing the most up-to-date tools and techniques for pricing interest rate and credit products for the new financial world, this book discusses pricing and hedging, funding and regulation, and interpretation, as an essential resource for quantitatively minded practitioners and researchers in finance.

Nonparametric Finance

Author : Jussi Klemelä
Publisher : John Wiley & Sons
ISBN 13 : 1119409101
Total Pages : 681 pages
Book Rating : 4.1/5 (194 download)

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Book Synopsis Nonparametric Finance by : Jussi Klemelä

Download or read book Nonparametric Finance written by Jussi Klemelä and published by John Wiley & Sons. This book was released on 2018-03-13 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Introduction to Machine Learning in Finance, With Mathematical Background, Data Visualization, and R Nonparametric function estimation is an important part of machine learning, which is becoming increasingly important in quantitative finance. Nonparametric Finance provides graduate students and finance professionals with a foundation in nonparametric function estimation and the underlying mathematics. Combining practical applications, mathematically rigorous presentation, and statistical data analysis into a single volume, this book presents detailed instruction in discrete chapters that allow readers to dip in as needed without reading from beginning to end. Coverage includes statistical finance, risk management, portfolio management, and securities pricing to provide a practical knowledge base, and the introductory chapter introduces basic finance concepts for readers with a strictly mathematical background. Economic significance is emphasized over statistical significance throughout, and R code is provided to help readers reproduce the research, computations, and figures being discussed. Strong graphical content clarifies the methods and demonstrates essential visualization techniques, while deep mathematical and statistical insight backs up practical applications. Written for the leading edge of finance, Nonparametric Finance: • Introduces basic statistical finance concepts, including univariate and multivariate data analysis, time series analysis, and prediction • Provides risk management guidance through volatility prediction, quantiles, and value-at-risk • Examines portfolio theory, performance measurement, Markowitz portfolios, dynamic portfolio selection, and more • Discusses fundamental theorems of asset pricing, Black-Scholes pricing and hedging, quadratic pricing and hedging, option portfolios, interest rate derivatives, and other asset pricing principles • Provides supplementary R code and numerous graphics to reinforce complex content Nonparametric function estimation has received little attention in the context of risk management and option pricing, despite its useful applications and benefits. This book provides the essential background and practical knowledge needed to take full advantage of these little-used methods, and turn them into real-world advantage. Jussi Klemelä, PhD, is Adjunct Professor at the University of Oulu. His research interests include nonparametric function estimation, density estimation, and data visualization. He is the author of Smoothing of Multivariate Data: Density Estimation and Visualization and Multivariate Nonparametric Regression and Visualization: With R and Applications to Finance.

An Introduction to Banking

Author : Moorad Choudhry
Publisher : John Wiley & Sons
ISBN 13 : 1119115914
Total Pages : 584 pages
Book Rating : 4.1/5 (191 download)

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Book Synopsis An Introduction to Banking by : Moorad Choudhry

Download or read book An Introduction to Banking written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2018-02-19 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical primer to the modern banking operation Introduction to Banking, Second Edition is a comprehensive and jargon-free guide to the banking operation. Written at the foundational level, this book provides a broad overview of banking to give you an all-around understanding that allows you to put your specialty work into context within the larger picture of your organization. With a specific focus on risk components, this second edition covers all key elements with new chapters on reputational risk, credit risk, stress testing and customer service, including an updated chapter on sustainability. Practical material includes important topics such as the yield curve, trading and hedging, asset liability management, loan origination, product marketing, reputational risk and regulatory capital. This book gives you the context you need to understand how modern banks are run, and the key points operation at all levels. Learn the critical elements of a well-structured banking operation Examine the risk components inherent in banking Understand operational topics including sustainability and stress testing Explore service-end areas including product marketing and customer service Banks continue to be the heart of the modern economy, despite the global financial crisis —they have however become more complex. Multiple layers and a myriad of functions contribute to the running of today's banks, and it's critical for new and aspiring bankers to understand the full breadth of the operation and where their work fits in. Introduction to Banking, Second Edition provides an accessible yet complete primer, with emphasis on the areas that have become central to sustainable banking operation.

Money, Information and Uncertainty

Author : Charles Goodhart CBE
Publisher : Bloomsbury Publishing
ISBN 13 : 1349201758
Total Pages : 508 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Money, Information and Uncertainty by : Charles Goodhart CBE

Download or read book Money, Information and Uncertainty written by Charles Goodhart CBE and published by Bloomsbury Publishing. This book was released on 1989-09-01 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a completely revised edition of the well-known monetary textbook. The book discusses the latest analytical developments in monetary economic theory in a comprehensible and practical policy- orientated form for graduates and undergraduates specialising in monetary economics. The book provides a comprehensive survey of monetary economics, with the first nine chapters primarily concerned with micro issues, such as the role of, and demand for, money, the role and functions of banks and of the Central Bank; and the final nine chapters covering macro-economic issues, such as the transmission mechanism of monetary policy and international monetary problems.

Fixed Income Markets

Author : Moorad Choudhry
Publisher : John Wiley & Sons
ISBN 13 : 1118171756
Total Pages : 708 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis Fixed Income Markets by : Moorad Choudhry

Download or read book Fixed Income Markets written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2014-06-17 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, in-depth look at global debt capital markets in the post-crisis world Fully updated with comprehensive coverage of the post-crisis debt markets and their impact on key industry issues, Fixed Income Markets: Management, Trading, and Hedging, Second Edition offers insights into derivative pricing, cross-currency hedging, and new liquidity legislation. Written by Choudhry, Moskovic, and Wong, Fixed Income Markets is an indispensable read for anyone working in bond markets, interest-rate markets, and credit derivatives markets looking to better understand today's debt markets. This acclaimed book takes a unique look into the leading practices in bond markets as well as post-credit-crunch impacts on pricing that are rarely captured in textbooks. The new edition provides expanded coverage on a wide range of topics within hedging, derivatives, bonds, rebalancing, and global debt capital markets. New topics include: Dynamic hedging practices and cross-currency hedging Collateralized and uncollateralized derivatives, and their impact on valuation Callable bonds, pricing, trading, and regulatory aspects related to liquidity Rebalancing as a method for capturing contingencies and other complex imbedded risks As a bonus, the book includes reference information for statistical concepts and fixed income pricing, as well as a full glossary and index. Written in Choudhry's usual accessible style, Fixed Income Markets is a comprehensive and in-depth account of the global debt capital markets in today's post-crisis world.

Psychological Perspectives on Risk and Risk Analysis

Author : Martina Raue
Publisher : Springer
ISBN 13 : 3319924788
Total Pages : 379 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Psychological Perspectives on Risk and Risk Analysis by : Martina Raue

Download or read book Psychological Perspectives on Risk and Risk Analysis written by Martina Raue and published by Springer. This book was released on 2018-09-18 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative collection goes beyond economic statistics and probability data to offer a robust psychological understanding of risk perception and risk taking behavior. Expert contributors examine various risk domains in life, and pinpoint cognitive, emotional, and personality factors contributing to individual differences in risk taking as well as the many nuances social demographics (e.g., culture, gender) bring to risk decisions. Coverage takes competing theories and studies into account to identify mechanisms involved in processing and acting on uncertainty. And implications and applications are demonstrated in varied fields, from updated risk models for the insurance sector to improved risk communication in health services to considering risk perception in policy decisions. A sampling of the topics: Personality and risk: beyond daredevils—risk taking from a temperament perspective. Cognitive, developmental, and neurobiological aspects of risk judgments. The group effect: social influences on risk identification, analysis, and decision-making. Cognitive architectures as a scaffolding for risky choice models. Improving understanding of health-relevant numerical information. Risk culture as a framework for improving competence in risk management. Psychological Perspectives on Risk and Risk Analysis will be of great interest to researchers in and outside of psychology, including decision-making experts and behavioral economists. Additionally, this volume will appeal to practitioners who often have to make risky decisions, such as managers and physicians.

Revisiting the Indian Financial Sector

Author : Paramita Mukherjee
Publisher : Springer Nature
ISBN 13 : 9811676682
Total Pages : 303 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Revisiting the Indian Financial Sector by : Paramita Mukherjee

Download or read book Revisiting the Indian Financial Sector written by Paramita Mukherjee and published by Springer Nature. This book was released on 2022-01-24 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides perspectives on the latest developments and pertinent issues in the Indian financial sector in current times. The reforms initiated in the nineties in the financial sector have transformed the way financial markets and institutions function today. However, certain sectors like banking, and markets like the capital market have undergone sea changes. The research contributions in this book focus on the issues pertaining to such sectors like banking, NBFCs and the stock market. The opening up of financial markets and emergence of institutional investors have been a significant phenomenon in the Indian context. At this backdrop of increasing financial integration, the impact of financial liberalisation on the overall development of the sector, and how the global policies and events influence the Indian financial sector, are analysed in the book. The emergence of new regulations in the capital markets to instill more discipline and transparency, have also changed the way corporates take financing decisions. For example, regulatory authorities are continuously reviewing norms pertaining to issues like promoters’ shareholding owing to risks arising from excessive leverage and the linkages between financial intermediaries. Corporate governance, environmental aspects are some important additions in corporate financing norms in the recent past. The book incorporates a discussion on this, too. Apart from these, the book also has incorporated several aspects on an emerging concept called financial inclusion, its measurement and constraints to achieve the same. And finally, at the backdrop of the disruption created by the COVID-19 pandemic, the impact on the Indian capital market is also discussed. Contributions are based on rigorous empirical research and incorporate the perspectives of renowned academicians in the field of finance and financial economics across the country. Apart from the research community, this book will also be helpful for financial analysts working in the financial sector to have some idea about the current issues, the direction of research on those issues and different perspectives on them.

Economics of Food Safety

Author : Julie A. Caswell
Publisher : Springer Science & Business Media
ISBN 13 : 9401170762
Total Pages : 355 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Economics of Food Safety by : Julie A. Caswell

Download or read book Economics of Food Safety written by Julie A. Caswell and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public concern about the safety and healthfulness of the food supply grew markedly during the 1980s. Numerous government, academic, interest group, and media reports questioning the adequacy of the food safety regulatory system formed the basis for this increase in concern. While public concern focused most directly on pesticide residues in food, scientists emphasized the risks of illness associated with microbiological contamination of food. Much additional attention was focused on the food supply as a result of the striking consensus on dietary recommendations that emerged in the late 1980s based on increased scientific knowledge of linkages between diet and health. Relatively little research on the economic aspects of food safety and nutrition issues had been conducted up to the mid-1980s. These aspects are complex. On the consumer demand side, they include consumers' perceptions of the risks associated with particular food products, how demographic characteristics influence consumers' processing of risk information and subsequent changes in food demand behavior, and the monetary value consumers might place on changes in the risk profiles of products. The economic benefits and costs associated with current food consumption patterns are a major determinant of demand for improved food safety and dietary change through government regulation. While a more complete picture of risks, benefits, and costs has been emerging recently, much is yet unknown.

Credit Default Swap

Author : Gracia S. Ugut
Publisher : Penerbit NEM
ISBN 13 : 6231153282
Total Pages : 201 pages
Book Rating : 4.2/5 (311 download)

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Book Synopsis Credit Default Swap by : Gracia S. Ugut

Download or read book Credit Default Swap written by Gracia S. Ugut and published by Penerbit NEM. This book was released on 2024-04-15 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit default swaps and credit derivatives in general are one of the many specialized derivatives that are used for the purpose of hedging, speculation and arbitrage. The primary purpose of a credit derivative or the need behind the creation of such a product is to serve as a credit risk transfer mechanism. Credit risk is one of the four broadly classified types of risks (others being operational risk, market risk and liquidity risk) is the possibility of a loss resulting from a borrower’s failure to repay a loan or meet contractual obligations. Credit Default Swaps and Credit Derivatives gained popularity in the pre and during Global Financial Crisis in 2008. It has earned a bad reputation since then as it is perceived as one of the most dangerous financial derivatives. The decline in trading volume of emerging market sovereign CDS in the years since the 2008 global financial crisis, along with the steady rise in volume of emerging-market-bond ETFs, might have contributed to this increase in the relative efficiency of bond-price discovery. Credit-Default Swaps (CDS) were generally a better source of price discovery than spreads computed from bond prices. Credit-Default Swaps (CDS) tended to be a better measure of value compared to spreads computed from bonds, which may have been traded infrequently. However, since the COVID-19 crisis, the cash bond market appears to have made strong inroads as the better source for investors to compare relative value and risk.

Transition Costs of Fundamental Tax Reform

Author : Kevin A. Hassett
Publisher : American Enterprise Institute
ISBN 13 : 9780844741123
Total Pages : 148 pages
Book Rating : 4.7/5 (411 download)

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Book Synopsis Transition Costs of Fundamental Tax Reform by : Kevin A. Hassett

Download or read book Transition Costs of Fundamental Tax Reform written by Kevin A. Hassett and published by American Enterprise Institute. This book was released on 2001 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transition costs surround debates over fundamental tax reform. Calculations of transition costs have followed the setup pioneered by Alan Auerbach and Larry Kotlikoff. In this volume, the authors focus on the most critical transition issues from the political perspective.

The Safety of Intelligent Driver Support Systems

Author : Ralf Risser
Publisher : CRC Press
ISBN 13 : 1317016750
Total Pages : 210 pages
Book Rating : 4.3/5 (17 download)

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Book Synopsis The Safety of Intelligent Driver Support Systems by : Ralf Risser

Download or read book The Safety of Intelligent Driver Support Systems written by Ralf Risser and published by CRC Press. This book was released on 2019-07-15 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of new technologies of information and communication will, in the coming years, transform deeply their uses and practices in transport. The current developments in the field of road telematics and driver assistance systems offer a real opportunity to aid mobility and road safety. However, they also raise numerous questions about their effectiveness, possible positive and negative modifications of behaviour or attitudes and about their acceptability by drivers. Problems related to the design and evaluation of intelligent driver support systems (IDSSs) and social perspectives related to their introduction on a large scale may only be fully addressed from a multi-disciplinary point of view. People from different backgrounds, from both engineering and social sciences, should be involved in this development. This book provides such knowledge from both a human and social factors background. The Safety of Intelligent Driver Support Systems serves the training of professionals working within the transport area so that they can use this knowledge in their work. It will be of direct interest to transportation and traffic professionals, engineers, system designers, researchers and specialists working in automotive and related industries, departments of transport, and communication and public bodies related to transport in the automotive industry, public authorities, etc. Also students at Masters and PhD level, performing studies in the road transportation area, will find in this book a rich source of knowledge. Teachers and trainers, both in professional training and academic education, may use the book as a basis for giving a course on the topic addressed.

The Legacy of Hicks

Author : Harald Hagemann
Publisher : Psychology Press
ISBN 13 : 0415068746
Total Pages : 291 pages
Book Rating : 4.4/5 (15 download)

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Book Synopsis The Legacy of Hicks by : Harald Hagemann

Download or read book The Legacy of Hicks written by Harald Hagemann and published by Psychology Press. This book was released on 1994 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sir John Hicks made a major contribution to almost every aspect of modern economic theory. In this book a number of leading contemporary economists pay tribute to Hicks and his work.