Handbook on Systemic Risk


Book Description

The Handbook on Systemic Risk, written by experts in the field, provides researchers with an introduction to the multifaceted aspects of systemic risks facing the global financial markets. The Handbook explores the multidisciplinary approaches to analyzing this risk, the data requirements for further research, and the recommendations being made to avert financial crisis. The Handbook is designed to encourage new researchers to investigate a topic with immense societal implications as well as to provide, for those already actively involved within their own academic discipline, an introduction to the research being undertaken in other disciplines. Each chapter in the Handbook will provide researchers with a superior introduction to the field and with references to more advanced research articles. It is the hope of the editors that this Handbook will stimulate greater interdisciplinary academic research on the critically important topic of systemic risk in the global financial markets.




The Art Of Speculation


Book Description

Philip L. Carret (1896-1998) was a famed investor and founder of The Pioneer Fund (Fidelity Mutual Trust), one of the first Mutual Funds in the United States. A former Barron’s reporter and WWI aviator, Carret launched the Mutual Trust in 1928 after managing money for his friends and family. The initial effort evolved into Pioneer Investments. He ran the fund for 55 years, during which an investment of $10,000 became $8 million. Warren Buffett said of him that he had “the best long term investment record of anyone I know” He is most famous for the long successful track record he achieved investing in Common Stocks and for being one of Warren Buffett’s role models. This book comprises a series of articles written for Barron’s and published in book form in 1930.—Print Ed.




Paris-Princeton Lectures on Mathematical Finance 2003


Book Description

The Paris-Princeton Lectures in Financial Mathematics, of which this is the second volume, will, on an annual basis, publish cutting-edge research in self-contained, expository articles from outstanding - established or upcoming! - specialists. The aim is to produce a series of articles that can serve as an introductory reference for research in the field. It arises as a result of frequent exchanges between the finance and financial mathematics groups in Paris and Princeton. This volume presents the following articles: "Hedging of Defaultable Claims" by T. Bielecki, M. Jeanblanc, and M. Rutkowski; "On the Geometry of Interest Rate Models" by T. Björk; "Heterogeneous Beliefs, Speculation and Trading in Financial Markets" by J.A. Scheinkman, and W. Xiong.




The Behavior of Financial Markets under Rational Expectations


Book Description

The financial markets have become more and more important in modern society. The behavior of the financial markets, and its impacts on our society, relies crucially on the behavior of market participants, aka the investors of different types. Although descriptions of the financial markets on the macro level have caught great attentions of investors, regulators, and the ordinary people, how the market participants interact with each other in the financial market may provide deeper insights on how and why the financial markets behave. This book tries to supply as much research on the micro level of financial market behavior as possible to the readers. The author has been doing financial research, especially on the micro level, during the past two decades. The academic research on this broad area has undergone a rapid growth, with new results, methods, theories, and even paradigms, emerging and burgeoning almost every year. As a financial researcher in one of China’s top universities, the author has kept monitoring, digesting, and synthesizing the research articles in the area. This book is the outcome of this decades-long routine research work of the author. The book covers the fundamental economic theories of how different investors receive and interpret information. The empirical results of investors behavior are also discussed in depth. The book also shows the basic academic techniques of modeling the investors behavior.




Federal Register


Book Description




Game Theory and Business Applications


Book Description

Game theory has been applied to a growing list of practical problems, from antitrust analysis to monetary policy; from the design of auction institutions to the structuring of incentives within firms; from patent races to dispute resolution. The purpose of Game Theory and Business Applications is to show how game theory can be used to model and analyze business decisions. The contents of this revised edition contain a wide variety of business functions – from accounting to operations, from marketing to strategy to organizational design. In addition, specific application areas include market competition, law and economics, bargaining and dispute resolution, and competitive bidding. All of these applications involve competitive decision settings, specifically situations where a number of economic agents in pursuit of their own self-interests and in accordance with the institutional “rules of the game” take actions that together affect all of their fortunes. As this volume demonstrates, game theory provides a compelling guide for analyzing business decisions and strategies.




The Pragmatic Optimist


Book Description

About the Book Based on extensive multi-year empirical research, The Pragmatic Optimist addresses what it takes to be a leading light in the darkest hours of a business or economic crisis. Using real-world case studies, you will discover how to avoid the common cognitive and behavioral traps to which all leaders are most susceptible in the heat of a crisis. Finally, you will acquire the necessary insights to develop pragmatic optimism—a winning hybrid mindset—and practice its six results-oriented strategies for success even under extreme conditions. Praises for The Pragmatic Optimist “Dr. Daniel Monehin has produced a remarkably timely masterpiece. I have studied crisis leadership for over thirty years, yet Dr. Monehin’s The Pragmatic Optimist took my understanding of leading in a crisis to a new level—I am a huge fan of this book.” - Dr. Thomas A. Kolditz, Ph.D., Brigadier General, US Army (ret), Professor Emeritus at the US Military Academy, West Point, and author, In Extremis Leadership: Leading as if Your Life Depended on It “The Pragmatic Optimist brings together factual information and the process to develop your own leadership style. I love when I find a good easy-to-apply book that I could use in my work.” - Dr. Wendy Borlabi, Psy. D., Director of Performance & Mental Health, Chicago Bulls “Dr. Daniel Monehin’s breadth of experience and depth as a global leader combined with his ability to lead through transformational change has catapulted this book to my shortlist of recommended reading to any leader.” - Ron Garrow, Executive Partner, Chief Human Resources Officer Advisory Practice at Gartner Inc. “There are many books on leadership, but few that actually give specific and actionable insights on what leaders must do in a crisis. Dr. Monehin's The Pragmatic Optimist stands tall above others—If you read only one book on leadership, it should be this one.” - Efosa Ojomo, Director of Global Prosperity at the Clayton Christensen Institute for Disruptive Innovation “Dr. Monehin draws on decades within multinationals, rigorous academic study, and importantly, his own life experience to produce this important work at this crucial time.” - Christine Elliott, Chief Corporate Affairs Officer, Moody’s Corporation “Having worked with Dr. Daniel Monehin for many years, I have seen him lead businesses successfully through turbulent environments. Who better than Daniel to lead us through the best of crisis management.” - Ann Cairns, Executive Vice Chair, Mastercard Inc. “Dr. Monehin, clearly and concisely, develops an essential framework for leaders to successfully overcome perilous situations. This book is an excellent manual for leaders from all spheres of influence and should be read before the next crisis!” - Femi Cadmus, Law Librarian and Professor of Law, Yale University “Between a global pandemic, social injustice and a racial reckoning, and a challenging economic climate, leaders have been tested in unprecedented ways. The Pragmatic Optimist provides an excellent roadmap for executives to successfully navigate times of adversity by keeping their vision and values in focus.” - Marisa Grimes Galiber, Chief Diversity & Inclusion Officer, U.S. Tennis Association (USTA)




Handbook of Behavioral Economics - Foundations and Applications 1


Book Description

Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. - Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics - Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics - Written for those who wish to become quickly acquainted with behavioral economics




Behavioral Economics


Book Description

Behavioral Economics: Evidence, Theory, and Welfare provides an engaging and accessible introduction to the motivating questions, real-world evidence, theoretical models, and welfare implications of behavioral economics concepts. Applications and examples — from household decisions, finance, public finance, labor, business, health, development, politics, education, energy, and sports — illustrate the broad relevance of behavioral economics for consumers, firms, markets, and policy makers alike. This textbook provides readers with both the intuition and analytical tools to apply behavioral economics concepts in understanding the complex social world. Each part of the book covers a key concept, beginning with a range of empirical evidence that is anomalous within the standard economics framework. In light of this evidence, a second chapter introduces and applies a nonstandard behavioral modeling approach. The last chapter of each part explores market reactions and policy responses to individuals behaving in nonstandard ways. Numerous exercises of varying types and levels provide readers the opportunity to check and enrich their understanding. The book’s clear structure orients readers to the many concepts of behavioral economics. It also highlights the process by which economists evaluate evidence and disentangle theories with different social welfare implications. Accessible to students from diverse economic backgrounds, this textbook is an ideal resource for courses on behavioural economics, experimental economics and related areas. The accompanying Solutions Manual further extends learning and engagement.