Limitations of Stabilizing Effects of Fundamentalists Facing Positive Feedback Traders PDF Download

Author: Michael Heinrich Baumann
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Erica Thompson
Publisher: Basic Books
ISBN: 1541600991
Category : Mathematics
Languages : en
Pages : 239

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Why mathematical models are so often wrong, and how we can make better decisions by accepting their limits Whether we are worried about the spread of COVID-19 or making a corporate budget, we depend on mathematical models to help us understand the world around us every day. But models aren’t a mirror of reality. In fact, they are fantasies, where everything works out perfectly, every time. And relying on them too heavily can hurt us. In Escape from Model Land, statistician Erica Thompson illuminates the hidden dangers of models. She demonstrates how models reflect the biases, perspectives, and expectations of their creators. Thompson shows us why understanding the limits of models is vital to using them well. A deeper meditation on the role of mathematics, this is an essential book for helping us avoid either confusing the map with the territory or throwing away the map completely, instead pointing to more nuanced ways to Escape from Model Land.

Author: Dani Rodrik
Publisher: OUP Oxford
ISBN: 0191634255
Category : Political Science
Languages : en
Pages : 442

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For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them? Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given. The heart of Rodrik’s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

Author: Narcís Serra
Publisher: Oxford University Press, USA
ISBN: 019953408X
Category : Business & Economics
Languages : en
Pages : 399

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Introduction: From the Washington Consensus towards a new global governance / Narcís Serra, Shari Spiegel, Joseph E. Stiglitz -- A short history of the Washington Consensus / John Williamson -- Inequality and redistribution / Paul Krugman -- Is there a post-Washington Consensus consensus? / Joseph E. Stiglitz -- The Barcelona development agenda -- A broad view of macroeconomic stability / José Antonio Ocampo -- The wild ones : industrial policies in the developing world / Alice H. Amsden -- Sudden stop, financial factors, and economic collapse in Latin America : learning from Argentina and Chile / Guillermo A. Calvo, Ernesto Talvi -- Towards a new modus operandi of the international financial system / Daniel Cohen -- The world trading system and implications of external opening / Jeffrey A. Frankel -- The world trading system and development concerns / Martin Khor -- Reforming labor market institutions : unemployment insurance and employment protection / Olivier Blanchard -- International migration and economic development / Deepak Nayyar -- The future of global governance / Joseph E. Stiglitz -- Growth diagnostics / Ricardo Hausmann, Dani Rodrik, Andrés Velasco -- A practical approach to formulating growth strategies / Dani Rodrik.

Author: David Bloom
Publisher: Rand Corporation
ISBN: 0833033735
Category : Social Science
Languages : en
Pages : 127

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There is long-standing debate on how population growth affects national economies. A new report from Population Matters examines the history of this debate and synthesizes current research on the topic. The authors, led by Harvard economist David Bloom, conclude that population age structure, more than size or growth per se, affects economic development, and that reducing high fertility can create opportunities for economic growth if the right kinds of educational, health, and labor-market policies are in place. The report also examines specific regions of the world and how their differing policy environments have affected the relationship between population change and economic development.

Author: Adam Smith
Publisher: John Wiley & Sons
ISBN: 0471786314
Category : Business & Economics
Languages : en
Pages : 341

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"Adam Smith continues to dazzle and sparkle! With the passage of time, Supermoney has, if anything, added to its power to inspire, arouse, provoke, motivate, inform, illuminate, entertain, and guide a whole new generation of readers, while marvelously reprising the global money show for earlier fans." -David M. Darst, author of The Art of Asset Allocation Managing Director and Chief Investment Strategist, Morgan Stanley Individual Investor Group "Nobody has written about the craft of money management with more insight, humor, and understanding than Adam Smith. Over the years, he has consistently separated wisdom from whimsy, brilliance from bluster, and character from chicanery." -Byron R. Wien, coauthor of Soros on Soros Chief Investment Strategist, Pequot Capital Management Supermoney may be even more relevant today than when it was first published nearly twenty-five years ago. Written in the bright and funny style that became Adam Smith's trademark, this book gives a view inside institutions, professionals, and the nature of markets that has rarely been shown before or since. "Adam Smith" was the first to introduce an obscure fund manager in Omaha, Nebraska, named Warren Buffett. In this new edition, Smith provides a fresh perspective in an updated Preface that contextualizes the applicability of the markets of the 1960s and 1970s to today's markets. Things change, but sometimes the more they change, the more they stay the same.

Author: Gabriel A. Wainer
Publisher: CRC Press
ISBN: 142007234X
Category : Technology & Engineering
Languages : en
Pages : 520

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Collecting the work of the foremost scientists in the field, Discrete-Event Modeling and Simulation: Theory and Applications presents the state of the art in modeling discrete-event systems using the discrete-event system specification (DEVS) approach. It introduces the latest advances, recent extensions of formal techniques, and real-world examples of various applications. The book covers many topics that pertain to several layers of the modeling and simulation architecture. It discusses DEVS model development support and the interaction of DEVS with other methodologies. It describes different forms of simulation supported by DEVS, the use of real-time DEVS simulation, the relationship between DEVS and graph transformation, the influence of DEVS variants on simulation performance, and interoperability and composability with emphasis on DEVS standardization. The text also examines extensions to DEVS, new formalisms, and abstractions of DEVS models as well as the theory and analysis behind real-world system identification and control. To support the generation and search of optimal models of a system, a framework is developed based on the system entity structure and its transformation to DEVS simulation models. In addition, the book explores numerous interesting examples that illustrate the use of DEVS to build successful applications, including optical network-on-chip, construction/building design, process control, workflow systems, and environmental models. A one-stop resource on advances in DEVS theory, applications, and methodology, this volume offers a sampling of the best research in the area, a broad picture of the DEVS landscape, and trend-setting applications enabled by the DEVS approach. It provides the basis for future research discoveries and encourages the development of new applications.

Author: Jayesh Patel
Publisher: Profit From Prices website
ISBN: 1434805131
Category : Business & Economics
Languages : en
Pages : 183

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Book Description
Profit From Prices, a book for stock market traders, teaches how to find stocks to buy or sell and when. The simple premise of this book is that everybody knows something about something, but the market is the only one who knows everything about everything. The market is the sum total of all the players. For any stock, it knows at any point in time every piece of news- public or private, every expectation held by every individual as well as every trade executed in that stock. All this enormous amount of information held by market is available in one simple number- the current stock price. You maybe wondering: Is it really possible to trade stocks just by looking at prices? Yes. It is and this is what this book is about. By learning some simple techniques, you also can profit from prices. Download the preview version from http: //www.profitfromprices.com/ and decide yourself. Most readers have rated this book as one of the best practical books on stock market trading

Author: Paul De Grauwe
Publisher:
ISBN: 019883232X
Category : Macroeconomics
Languages : en
Pages : 273

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Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from outside. Behavioural Macroeconomics: Theory and Policy uses a different paradigm. It assumes that individual agents experience cognitive limitations preventing them from having rational expectations. Instead these individuals use simple rules of behaviour. Behavioural Macroeconomics introduces rationality by allowing individuals to learn from their mistakes and to switch to the rules that perform better. It introduces the idea of endogenously generated "animals spirits" that drive the business cycle and are in turn influenced by it, and applies this model to shed new light on a number of important issues. It analyses the role of fiscal policy in stabilizing the economy while maintaining debt sustainability; expands the model to include a banking sector and show how banks amplify the booms and busts; and explains how animal spirits help to synchronize the business cycles across countries. The model set out in Behavioural Macroeconomics leads to very different policy implications from the mainstream macroeconomic model. It shows how policymakers have a responsibility to stabilize an otherwise unstable system.

Author: David Lyon
Publisher: Polity
ISBN: 0745635911
Category : Computers
Languages : en
Pages : 257

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The study of surveillance is more relevant than ever before. The fast growth of the field of surveillance studies reflects both the urgency of civil liberties and privacy questions in the war on terror era and the classical social science debates over the power of watching and classification, from Bentham to Foucault and beyond. In this overview, David Lyon, one of the pioneers of surveillance studies, fuses with aplomb classical debates and contemporary examples to provide the most accessible and up-to-date introduction to surveillance available. The book takes in surveillance studies in all its breadth, from local face-to-face oversight through technical developments in closed-circuit TV, radio frequency identification and biometrics to global trends that integrate surveillance systems internationally. Surveillance is understood in its ambiguity, from caring to controlling, and the role of visibility of the surveilled is taken as seriously as the powers of observing, classifying and judging. The book draws on international examples and on the insights of several disciplines; sociologists, political scientists and geographers will recognize key issues from their work here, but so will people from media, culture, organization, technology and policy studies. This illustrates the diverse strands of thought and critique available, while at the same time the book makes its own distinct contribution and offers tools for evaluating both surveillance trends and the theories that explain them. This book is the perfect introduction for anyone wanting to understand surveillance as a phenomenon and the tools for analysing it further, and will be essential reading for students and scholars alike.