Where results make sense

About us   |   Why use us?   |   Reviews   |   PR   |   Contact us

Topic: Incomplete markets

    Note: these results are not from the primary (high quality) database.

Ads by Google

In the News (Thu 24 Dec 09)

Northern Trust

Marvin Harrison

Peter Chernin

Gary Locke

Match Play

Penelope Cruz

Mickey Rourke

AR Rahman

Danny Boyle

Hugh Jackman

H&SS Faculty Home Pages - Matthew O. Jackson I am directing SISL: The Social and Information Sciences Laboratory, which is an exciting new research center that studies information in markets, networks and other distributed systems. ``Communication and Equilibrium in Discontinuous Games of Incomplete Information,'' with Leo K. Simon, Jeroen M. Swinkels, and William R. Zame, Information about the meetings is available at the meeting web site http://www.hss.caltech.edu/~jacksonm/SCW.html. www.hss.caltech.edu /~jacksonm/Jackson.html

adding a preprint A quasilinear parabolic equation with quadratic growth of the gradient modeling incomplete financial markets www.hyke.org /preprint/index.php?ext=&year=2004   (1156 words)

Street market - Baton Rouge Farmer's Market Local open air markets are difficult to locate on the web so this is an incomplete list of the open air street markets you'll find in most European cities. There are a great number of street markets throughout the Costa del Sol and A variety of goods are commonly sold in street markets, including food, London& street markets are an integral part of London life. webinfosites.com /q/street-market.htm   (232 words)

Papers Abstract: The Modigliani-Miller Theorem is considered in a general model of a multi-period, stochastic economy with incomplete markets and perfect foresight. "An Extension of the Modigliani-Miller Theorem to Stochastic Economies with Incomplete Markets and Interdependent Securities," Journal of Economic Theory, 1988, 45, 353-369. Applications include a computational proof of the Borsuk-Ulam Theorem and the computation of economic equilibria with incomplete markets. faculty-gsb.stanford.edu /demarzo/pmd-papers.htm   (2624 words)

EconPapers: Price Stability with Imperfect Financial Integration Using a two-country dynamic general equilibrium model with incomplete markets, price stickiness and monopolistic competition, one finds that an allocation in which the producer inflation rates in both countries are stabilized to zero reproduces the flexible-price allocation. Therefore, under incomplete markets, price stability is a good approximation of the feasible first best policy. Keywords: incomplete markets ; optimal monetary policy ; price stability (search for similar items in EconPapers) netec.mcc.ac.uk /WoPEc/data/Papers/cprceprdp2854.html   (2624 words)

Joseph E. Stiglitz: Whither Socialism? Information economics challenges key assumptions of the competitive capitalism model and focuses on information inefficiencies, such as imperfect competition (oligopolistic practices); incomplete markets for goods, labor, capital, and land—in particular, forward markets; and incomplete and costly information, as well as limits and costs of processing available information. Even mature equity markets may distort enterprise behavior; a good example is the linking managers' rewards to short-term stock price fluctuation. The scope for massive coordination failures resulting from information deficiencies in competition, privatization, and capital markets leads to the rejection of the "folk theorem" that "anything the government can do, the private sector can do better." Stiglitz believes that on the contrary, there is no intellectual foundation for the separation of efficiency and equity concerns. www.worldbank.org /html/prddr/trans/m&j96/art10.htm   (1133 words)

Street market - Baton Rouge Farmer's Market Local open air markets are difficult to locate on the web so this is an incomplete list of the open air street markets you'll find in most European cities. London& street markets are an integral part of London life. The World Wide Guide to Farmers' Markets, Street Markets, Flea Markets and Street Vendors. webinfosites.com /q/street-market.htm   (232 words)

Street market - Baton Rouge Farmer's Market Local open air markets are difficult to locate on the web so this is an incomplete list of the open air street markets you'll find in most European cities. London's street markets are an integral part of London life. The World Wide Guide to Farmers' Markets, Street Markets, Flea Markets and Street Vendors. webinfosites.com /q/street-market.htm   (232 words)

Street market - Baton Rouge Farmer's Market Local open air markets are difficult to locate on the web so this is an incomplete list of the open air street markets you'll find in most European cities. London& street markets are an integral part of London life. Open Air Markets - Street Markets - Antique and Flea Markets - Europe webinfosites.com /q/street-market.htm   (232 words)

How do households smooth earnings fluctuations: what can we learn from Consumer Expenditure Data? Markets are either exogenously incomplete in that households can only trade a risk-free bond, subject to a possibly binding borrowing constraint, or endogenously incomplete due to enforcement or informational frictions that prevent perfect risk sharing. In this paper we demonstrate that different incomplete markets models yield qualitatively distinct predictions about how consumption growth responds to declines and increases in earnings. We then use earnings and consumption data from the 1980 to 2000 Consumer Expenditure Survey to empirically test these implications about the asymmetric consumption responses to positive and negative earnings growth, in order to assess which form of market incompleteness approximates individual consumption smoothing opportunities best ideas.repec.org /p/red/sed004/683.html   (232 words)

Professional Master of Science in Mathematical Finance Economics of Financial Markets I. Equilibrium model of finance economy; absence of arbitrage; complete and incomplete markets; asset pricing theory: representative agent pricing, Capital Asset Pricing Model, martingale property of security prices. Application of mathematical finance to real financial markets. Financial market equilibrium and partial equilibrium asset pricing in discrete and continuous time; properties of equilibria with and without complete markets: theory of option prices: Black-Scholes pricing formula; term structure of interest rates; hedging strategies and managing market risk using options, futures and swaps; hedging exchange-rates risks. www.usc.edu /dept/LAS/CAMS/MF   (851 words)

Citebase - Stock market crashes, Precursors and Replicas We present a synthesis of all the available empirical evidence in the light of recent theoretical developments for the existence of characteristic log-periodic signatures of growing bubbles in a variety of markets including 8 unrelated crashes from 1929 to 1998 on stock markets as diverse as the... Citation coverage and analysis is incomplete and hit coverage and analysis is both incomplete and noisy. We propose that large stock market crashes are analogous to critical points studied in statistical physics with log-periodic correction to scaling. citebase.eprints.org /cgi-bin/citations?archiveID=oai:arXiv.org:cond-mat/9510036   (851 words)

Martin Shubik: Curriculum Vitae “The Capital Asset Pricing Model as a General Equilibrium with Incomplete Markets,” (with J. Geanakoplos), Geneva Papers on Risk and Insurance Theory, 15, l, 1990, 55-71. “The General Equilibrium Model is Incomplete and Not Adequate for the Reconciliation of Micro and Macroeconomic Theory,” Kyklos, 28, 3, 1975, 545-73. “The General Equilibrium Model: Barter and Trust, or Mass Markets with Money and Credit,” Economic Record, 50, 130, 1974, 245-258. www.som.yale.edu /Faculty/mss1/Ms1299cv.htm   (6507 words)

SSRN-Closing Small Open Economy Models by Stephanie Schmitt-Grohe, Martin Uribe The small open economy model with incomplete asset markets features a steady state that depends on initial conditions. Keywords: Small Open Economy, Stationarity, Complete and Incomplete Asset Markets Schmitt-Grohe, Stephanie and Uribe, Martin, "Closing Small Open Economy Models" (November 12, 2001). papers.ssrn.com /sol3/papers.cfm?abstract_id=290139   (6507 words)

EconPapers: On the Structure of Market Excess Demand in an Intertemporal General Equilibrium Model But with incomplete financial markets, heterogeneous expectations lying in an appropriate set of dimension S-L (where S is the number of states of the world and L the number of assets) still lead to a monotone spot market excess demand function. The consequence of this two stage allocation process is that the incomes in every period are determined by the evaluation of endowments which are the result of the equilibrium process in futures markets of the period before and thus far away from being arbitrary as in the Arrow-Debreu Model. The main reason for this result to be true is that in contrary to the Arrow-Debreu model where final consumption allocations for all periods are reached immediately in the first period, in an Intertemporal General Equilibrium Model they are reached via futures and spot markets transactions. econpapers.repec.org /paper/bonbonsfa/280.htm   (421 words)

ECA Company Disclosure Page Although information has been obtained from and is based upon sources that the Firm believes to be reliable, we do not guarantee its accuracy and it may be incomplete and condensed. Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following company(ies) as clients, and the services provided were non-investment-banking, non-securities-related: EnCana Corporation. Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following company(ies) as clients, and the services provided were non-investment-banking, securities-related: EnCana Corporation. www.mycititrade.com /research/disclaimer/ECA.html   (421 words)

Financial Intermediaries and Markets A sophisticated financial system—a system with complete markets for aggregate risk and limited market participation—is incentive-efficient, if the intermediaries issue complete contingent contracts, or else constrained-efficient, if they issue incomplete contracts. Intermediaries such as banks that issue incomplete contracts, e.g., demand deposits, are subject to runs, but this does not imply a market failure. We distinguish financial intermediaries according to whether they issue complete contingent contracts or incomplete contracts. fic.wharton.upenn.edu /fic/papers/00/p0044.html   (104 words)

RIO_p.N Company Disclosure Page Although information has been obtained from and is based upon sources that the Firm believes to be reliable, we do not guarantee its accuracy and it may be incomplete and condensed. Citigroup Global Markets Inc. or an affiliate received compensation for products and services other than investment banking services from Companhia Vale do Rio Doce in the past 12 months. Citigroup Global Markets Inc. currently has, or had within the past 12 months, the following company(ies) as clients, and the services provided were non-investment-banking, securities-related: Companhia Vale do Rio Doce. www.smithbarney.com /research/disclaimer/RIO_p.N.html   (104 words)

Freshfields Bruckhaus Deringer: Belgian competition law report, Issue 8 Decision n° 2003-C/C-39 of 23 April 2003 NV Minute Maid Juices, BVBA Coca-Cola Enterprises Belgium/SA Chaudfontaine Distribution, SA Chaudfontaine Monopole: The relevant geographic markets for (i) carbonated soft-drinks (including ice teas); (ii) bottled water; and (iii) fruit juices and nectars was found to be the Belgian market. Decision n° 2003-C/C-38 of 17 April 2003 Johnson Controls Gent NV, Johnson Controls Automotive (UK) Ltd, ECA NV: The notification was submitted within the legal deadline but was considered incomplete. Decision n° 2003-C/C-38 of 17 April 2003 Johnson Controls Gent NV, Johnson Controls Automotive (UK) Ltd, ECA NV: Notification on the basis of a draft agreement but definitive agreements were submitted shortly afterwards (and before the 45 days started to run because of the incompleteness of the notification - see below). www.freshfields.com /practice/comptrade/publications/complawreport/8/merger.asp   (762 words)

EconPapers: On the Structure of Market Excess Demand in an Intertemporal General Equilibrium Model But with incomplete financial markets, heterogeneous expectations lying in an appropriate set of dimension S-L (where S is the number of states of the world and L the number of assets) still lead to a monotone spot market excess demand function. The main reason for this result to be true is that in contrary to the Arrow-Debreu model where final consumption allocations for all periods are reached immediately in the first period, in an Intertemporal General Equilibrium Model they are reached via futures and spot markets transactions. The consequence of this two stage allocation process is that the incomes in every period are determined by the evaluation of endowments which are the result of the equilibrium process in futures markets of the period before and thus far away from being arbitrary as in the Arrow-Debreu Model. econpapers.repec.org /paper/bonbonsfa/280.htm   (421 words)

ECON 3901 General Equilibrium Theory The model of general competitive equilibrium encompasses economies with uncertainty and asymmetric information: competitive, anonymous markets are viable, even in the presence of incentive compatibility constraints. Hart, O. (1975), On the Optimality of equilibrium when the market structure is incomplete, Journal of Economic Theory, 21, 293 - 311. Geanakoplos, J. and H. Polemarchakis (1986), Existence, regularity and constrained suboptimality of competitive allocations when the asset market is incomplete, in D. Starrett, W. www.econ.ucl.ac.be /Cours/ECON3901.html   (421 words)

Frontiers in Applied General Equilibrium Modeling It extends the received theory of general equilibrium with incomplete markets that has been used to analyze the stochastic volatility of asset prices and the risk premium puzzle to incorporate default, credit risk, and institutions to deal with them. Equilibrium is characterized by an intertemporal price system that clears markets for labor, capital services, consumption goods, and investment goods. It is a fascinating recapitulation of the intellectual history of general equilibrium theory and its use in AGE. www.econ.yale.edu /news/srinivasan/frontiers.htm   (7174 words)

CMA : Centre of Mathematics for Applications We use Malliavin calculus to study problems related to pricing and hedging of contingent claims in incomplete markets, in particular markets modelled by jump diffusions. Malliavin Calculus and its Applications in Mathematical Finance Get in touch with the University of Oslo www.cma.uio.no /projects/individual/Mataramvura.html   (58 words)

Oxford Scholarship Online: Development Microeconomics Keywords: asymmetric information, developing countries, development economics, incomplete markets, information, market failures, micro models, microeconomics, rural institutions, rural markets This book intends to provide illustrations of microeconomic analyses of economic development by utilizing simple, theoretical, micro models of some of the key economic issues in poor countries. Abstract: Development Microeconomics looks at a broad spectrum of topics in development economics, combining the strength of conventional developmental thought with the insights of contemporary mainstream economics. www.oxfordscholarship.com /oso/public/content/economicsfinance/0198773714/toc.html   (363 words)

Bruno Bouchard We study the dual formulation of the utility maximization problem in incomplete markets when the utility function is finitely valued on the whole real line. Motivated by an optimal investment problem under time horizon uncertainty and when default may occurs, we study a general structure for an incomplete semimartingale model extending the classical terminal wealth utility maximization problem. Given a utility function defined on Â, we analyse the problem of maximizing the expected utility of the liquidation value of terminal wealth diminished by some random claim. www.proba.jussieu.fr /pageperso/bouchard.html   (363 words)

Courses/Programs: Agent-Based Computational Economics (ACE) Within this framework, various problems are examined (consumption and savings, portfolio choice, labor supply,...) in environments in which the standard welfare theorems fail due to taxation, market power, externalities, or incomplete asset markets. Topics covered (many with linked readings) include various market formulations and their realizations in different settings, and the algorithmic properties of various combinatorial auctions and commodity markets. This course is a mathematically rigorous ivestigation of the interplay of economic theory and computer science with an emphasis on the relationship of incentive compatibility and computational efficiency. www.econ.iastate.edu /tesfatsi/teachsyl.htm   (4412 words)

David K. Levine's Vita "Recursive Solutions of the Stand-in Consumer Problem," (with T. Kehoe and E. Prescott), UCLA, Minneapolis Federal Reserve Bank Conference on Endogenous Incomplete Markets, June 1998; Vigo Conference on Macroeconomic Dynamics, July 1998. David Reiffen, 1985, "A Model of Heterogeneous Labor Markets," Federal Trade Commission (USA) Guido Tabellini, 1984, "The Formation of Expectations and Central Bank Behavior," Director, Innocenzo Gasparini Institute for Economic Research (Italy) levine.sscnet.ucla.edu /vita.htm   (4412 words)

Roy Radner Radner (1972) integrated uncertainty and financial markets into a comprehensive Neo-Walrasian model that yielded an "equilibrium of plans, prices and price expectations" in a sequential economy - also known as a "Radner Equilibrium" - which has since found many applications in the theory of general equilibrium, finance and incomplete markets. In his 1968 classical paper, Radner incorporated and studied the impact of different information structures in an Arrow-Debreu model by defining them as different partitions in the state space. Radner (1967) formalized the idea of the informational role of prices and the concept of a "rational expectations equilibrium" in a general equilibrium setting. cepa.newschool.edu /het/profiles/radner.htm   (4412 words)

Table of contents for Labour, land, and capital in Ghana Social Relations of Production and Trade, 1807-1896: Establishing a Description of Absent and Imperfect Factor Markets 5 Land Tenure, 1807-1896 6 The Mobilization of Labour, 1807-1896 Appendix to Chapter 6: Nineteenth-Century Slave Prices 7 Capital and Credit, 1807-1896 Part III. The Decline of Coercion in the Factor Markets of Colonial Asante: Cocoa and the Ending of Slavery, Pawnship and Corvée, 1896-c.1950 11 Why Was Prohibition So Long Delayed? Contents may have variations from the printed book or be incomplete or contain other coding. www.loc.gov /catdir/toc/ecip0422/2004021237.html   (4412 words)

UCAN's Comments on Pacific Bell's 271 Filing (long distance) For all of the aforementioned reasons, UCAN respectfully requests that the draft 271 application be deemed incomplete and that the Commission require include a more complete analysis of the public interest requirements for entry into long-distance. In order to prevent anti-competitive leverage in either local or long-distance markets stemming from traditional monopoly markets, Section 271 places several safeguards which must be met before entrance is granted. Noticeably absent from Section 271 is any mention of language stating that the Commission may not, on a case-by-case basis, impose additional requirements where necessary to render a Section 271 application consistent with the public interest. www.ucan.org /law_policy/teledocs/271_comments.html   (4412 words)

Try your search on: Qwika (all wikis)

About us   |   Why use us?   |   Reviews   |   Press   |   Contact us   Copyright © 2005-2007 www.factbites.com Usage implies agreement with terms.