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Timing And Skewness Of Information Revelation
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Book Synopsis Timing and Skewness of Information Revelation by : Enrico Diecidue
Download or read book Timing and Skewness of Information Revelation written by Enrico Diecidue and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We design a comprehensive experimental setup to study (i) intrinsic preferences for gradual information revelation (ii) with different skewness (positive, negative, or symmetric) (iii) in two information environments. In a ``compound lottery'' environment, symmetric information revelation is preferred, while in an otherwise equivalent ``information structure'' environment, positively skewed information revelation is preferred. In both environments, early resolution is preferred over late resolution, with the three types of gradual resolution positioned in between. Our study integrates the three dimensions (timing, skewness, environment) of intrinsic preferences only studied separately to date, relates the findings to behavioral theories, and shows that careful consideration of the information environment is necessary when investigating preferences for gradual information revelation.
Book Synopsis Quarterly Journal of Business and Economics by :
Download or read book Quarterly Journal of Business and Economics written by and published by . This book was released on 2004 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Innovation and Risk, the Role of Information by : Mr.Roberto Piazza
Download or read book Financial Innovation and Risk, the Role of Information written by Mr.Roberto Piazza and published by International Monetary Fund. This book was released on 2010-11-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial innovation has increased diversification opportunities and lowered investment costs, but has not reduced the relative cost of active (informed) investment strategies relative to passive (less informed) strategies. What are the consequences? I study an economy with linear production technologies, some more risky than others. Investors can use low quality public information or collect high quality, but costly, private information. Information helps avoiding excessively risky investments. Financial innovation lowers the incentives for private information collection and deteriorates public information: the economy invests more often in excessively risky technologies. This changes the business cycle properties and can reduce welfare by increasing the likelihood of "liquidation crises"
Book Synopsis Information Efficiency in Financial and Betting Markets by : Leighton Vaughan Williams
Download or read book Information Efficiency in Financial and Betting Markets written by Leighton Vaughan Williams and published by Cambridge University Press. This book was released on 2005-09-29 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The degree to which markets incorporate information is one of the most important questions facing economists today. This book provides a fascinating study of the existence and extent of information efficiency in financial markets, with a special focus on betting markets. Betting markets are selected for study because they incorporate features highly appropriate to a study of information efficiency, in particular the fact that each bet has a well-defined end point at which its value becomes certain. Using international examples, this book reviews and analyses the issue of information efficiency in both financial and betting markets. Part I is an extensive survey of the existing literature, while Part II presents a range of readings by leading academics. Insights gained from the book will interest students of financial economics, financial market analysts, mathematicians and statisticians, and all those with a special interest in finance or gambling.
Book Synopsis Handbook of the Economics of Finance by : G. Constantinides
Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 1B covers the economics of financial markets: the saving and investment decisions; the valuation of equities, derivatives, and fixed income securities; and market microstructure.
Book Synopsis The Analytics of Uncertainty and Information by : Jack Hirshleifer
Download or read book The Analytics of Uncertainty and Information written by Jack Hirshleifer and published by Cambridge University Press. This book was released on 1992-09-10 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have always recognised that human endeavours are constrained by our limited and uncertain knowledge, but only recently has an accepted theory of uncertainty and information evolved. This theory has turned out to have surprisingly practical applications: for example in analysing stock market returns, in evaluating accident prevention measures, and in assessing patent and copyright laws. This book presents these intellectual advances in readable form for the first time. It unifies many important but partial results into a satisfying single picture, making it clear how the economics of uncertainty and information generalises and extends standard economic analysis. Part One of the volume covers the economics of uncertainty: how each person adapts to a given fixed state of knowledge by making an optimal choice among the immediate 'terminal' actions available. These choices in turn determine the overall market equilibrium reflecting the social distribution of risk bearing. In Part Two, covering the economics of information, the state of knowledge is no longer held fixed. Instead, individuals can to a greater or lesser extent overcome their ignorance by 'informational' actions. The text also addresses at appropriate points many specific topics such as insurance, the Capital Asset Pricing model, auctions, deterrence of entry, and research and invention.
Book Synopsis Information Bias by : Aswath Damodaran
Download or read book Information Bias written by Aswath Damodaran and published by . This book was released on 1987 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Data Mining and Exploration by : Chong Ho Alex Yu
Download or read book Data Mining and Exploration written by Chong Ho Alex Yu and published by CRC Press. This book was released on 2022-10-27 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces both conceptual and procedural aspects of cutting-edge data science methods, such as dynamic data visualization, artificial neural networks, ensemble methods, and text mining. There are at least two unique elements that can set the book apart from its rivals. First, most students in social sciences, engineering, and business took at least one class in introductory statistics before learning data science. However, usually these courses do not discuss the similarities and differences between traditional statistics and modern data science; as a result learners are disoriented by this seemingly drastic paradigm shift. In reaction, some traditionalists reject data science altogether while some beginning data analysts employ data mining tools as a “black box”, without a comprehensive view of the foundational differences between traditional and modern methods (e.g., dichotomous thinking vs. pattern recognition, confirmation vs. exploration, single method vs. triangulation, single sample vs. cross-validation etc.). This book delineates the transition between classical methods and data science (e.g. from p value to Log Worth, from resampling to ensemble methods, from content analysis to text mining etc.). Second, this book aims to widen the learner's horizon by covering a plethora of software tools. When a technician has a hammer, every problem seems to be a nail. By the same token, many textbooks focus on a single software package only, and consequently the learner tends to fit the problem with the tool, but not the other way around. To rectify the situation, a competent analyst should be equipped with a tool set, rather than a single tool. For example, when the analyst works with crucial data in a highly regulated industry, such as pharmaceutical and banking, commercial software modules (e.g., SAS) are indispensable. For a mid-size and small company, open-source packages such as Python would come in handy. If the research goal is to create an executive summary quickly, the logical choice is rapid model comparison. If the analyst would like to explore the data by asking what-if questions, then dynamic graphing in JMP Pro is a better option. This book uses concrete examples to explain the pros and cons of various software applications.
Book Synopsis Advances in Behavioral Finance, Volume II by : Richard H. Thaler
Download or read book Advances in Behavioral Finance, Volume II written by Richard H. Thaler and published by Princeton University Press. This book was released on 2005-07-05 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser.
Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Markets Theory by : Emilio Barucci
Download or read book Financial Markets Theory written by Emilio Barucci and published by Springer. This book was released on 2017-06-08 with total page 843 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises. Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-classical preferences, noise traders and market microstructure. This textbook is aimed at graduate students in mathematical finance and financial economics, but also serves as a useful reference for practitioners working in insurance, banking, investment funds and financial consultancy. Introducing necessary tools from microeconomic theory, this book is highly accessible and completely self-contained. Advance praise for the second edition: "Financial Markets Theory is comprehensive, rigorous, and yet highly accessible. With their second edition, Barucci and Fontana have set an even higher standard!"Darrell Duffie, Dean Witter Distinguished Professor of Finance, Graduate School of Business, Stanford University "This comprehensive book is a great self-contained source for studying most major theoretical aspects of financial economics. What makes the book particularly useful is that it provides a lot of intuition, detailed discussions of empirical implications, a very thorough survey of the related literature, and many completely solved exercises. The second edition covers more ground and provides many more proofs, and it will be a handy addition to the library of every student or researcher in the field."Jaksa Cvitanic, Richard N. Merkin Professor of Mathematical Finance, Caltech "The second edition of Financial Markets Theory by Barucci and Fontana is a superb achievement that knits together all aspects of modern finance theory, including financial markets microstructure, in a consistent and self-contained framework. Many exercises, together with their detailed solutions, make this book indispensable for serious students in finance."Michel Crouhy, Head of Research and Development, NATIXIS
Book Synopsis Information Seeking Behavior and Technology Adoption: Theories and Trends by : Al-Suqri, Mohammed Nasser
Download or read book Information Seeking Behavior and Technology Adoption: Theories and Trends written by Al-Suqri, Mohammed Nasser and published by IGI Global. This book was released on 2015-02-28 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increasingly complex and ubiquitous data available through modern technology, digital information is being utilized daily by academics and professionals of all disciplines and career paths. Information Seeking Behavior and Technology Adoption: Theories and Trends brings together the many theories and meta-theories that make information science relevant across different disciplines. Highlighting theories that had their base in the early days of text-based information and expanding to the digitization of the Internet, this book is an essential reference source for those involved in the education and training of the next-generation of information science professionals, as well as those who are currently working on the design and development of our current information products, systems, and services.
Book Synopsis Dissertation Abstracts International by :
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pharmacometrics written by Ene I. Ette and published by John Wiley & Sons. This book was released on 2013-03-14 with total page 1236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pharmacometrics is the science of interpreting and describing pharmacology in a quantitative fashion. The pharmaceutical industry is integrating pharmacometrics into its drug development program, but there is a lack of and need for experienced pharmacometricians since fewer and fewer academic programs exist to train them. Pharmacometrics: The Science of Quantitative Pharmacology lays out the science of pharmacometrics and its application to drug development, evaluation, and patient pharmacotherapy, providing a comprehensive set of tools for the training and development of pharmacometricians. Edited and written by key leaders in the field, this flagship text on pharmacometrics: Integrates theory and practice to let the reader apply principles and concepts. Provides a comprehensive set of tools for training and developing expertise in the pharmacometric field. Is unique in including computer code information with the examples. This volume is an invaluable resource for all pharmacometricians, statisticians, teachers, graduate and undergraduate students in academia, industry, and regulatory agencies.
Book Synopsis TRADING-GENERATED NEWS, SIDELINED INVESTORS, AND CONDITIONAL PATTERNS IN SECURITY RETURNS by : JOSHUA D. COVAL
Download or read book TRADING-GENERATED NEWS, SIDELINED INVESTORS, AND CONDITIONAL PATTERNS IN SECURITY RETURNS written by JOSHUA D. COVAL and published by . This book was released on 1998 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economics of the Food Processing Industry by : Debdatta Saha
Download or read book Economics of the Food Processing Industry written by Debdatta Saha and published by Springer Nature. This book was released on 2020-03-14 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a wealth of perspectives on studying the manufacturing end of food processing industries, with a special focus on regions with a low industrial base and multiple missing markets, institutional finance being the most prominent example. Positioning food processing within the industrial ecosystem, which includes entrepreneurs, policymakers, business consultants and associations, the study first considers three different trajectories: for developed economies, for national territories like India, and for sub-national regions like Bihar. In turn, it shows how these trajectories intertwine in two dimensions: the region and the sub-sector. Successfully completing food-processing projects in any of these trajectories requires the identification and development of appropriate product networks that link basic processed items with advanced ones through a chain of value addition. Moreover, the supply-side narrative presented here identifies two types of costs: physical and non-physical costs of operation. For trajectories with skewed firm sizes (“missing middle”) and missing markets, which can be found in Bihar, the latter costs matter just as much as the former in terms of entrepreneurship. While efficiency in operations is studied for selected sub-sectors in Bihar’s food processing to assess the main sources of inefficiency in minimizing the physical costs of operations, non-physical costs are studied using the construct of region-based counterfactual thinking (rCFT) and its relationship with the perception of risk for entrepreneurs. rCFT offers a new concept for understanding the mindset of the entrepreneur, in which the regional identity plays a significant role. The empirical content is based on a primary survey of food processing in Bihar. Additional policy questions, such as the choice between spatial collocation of food parks or cluster-based development of unique sub-sectors, are explored through an analysis of the policy network that supports entrepreneurship. Issues arising from the government’s policy choices, particularly vertically targeted industrial policies, can influence industrial outcomes and are particularly relevant for regions like Bihar. While policy evaluation for Bihar’s processed food industry yields insights on policy targeting for decision-makers in the government, examples of parallel narratives from global experiences in comparable regions shed new light on industrial development in processed food, which should be of interest to business practitioners, academic researchers and policymakers alike.
Book Synopsis Applied Corporate Finance by : Aswath Damodaran
Download or read book Applied Corporate Finance written by Aswath Damodaran and published by John Wiley & Sons. This book was released on 2014-10-27 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.
