The Informational Role of Prices PDF Download

Author: Sanford J. Grossman
Publisher: MIT Press (MA)
ISBN: 9780262572149
Category : Business & Economics
Languages : en
Pages : 218

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Book Description
A uniform framework for understanding how prices convey information in securities markets.

Author: Esteban F. Thomsen
Publisher: Routledge
ISBN: 1134915578
Category : Business & Economics
Languages : en
Pages : 159

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Book Description
The growth of information economics has lead to a substantial re-consideration of the role of prices. Instead of the conventional neo-classical view of prices as straightforward indicators of scarcity, information economics emphasises that prices can be sources from which agents infer information and means by which they communicate. Prices and Knowledge analyses different theoretical approaches to the role of prices in situations of imperfect information. It shows that whilst the `informational efficiency' approach of Grossman and Stiglitz and the `bounded rationality theory' of Nelson and Simon are useful, neither goes far enough in considering situations of disequilibrium.

Author: Brian McCall
Publisher: Routledge
ISBN: 1134422350
Category : Business & Economics
Languages : en
Pages : 574

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Book Description
The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. In this book Brian and John McCall present a comprehensive overview of the economic theory of search, from the classical model of job search formulated 40 years ago to the recent developments in equilibrium models of search. The book gives decision-theoretic foundations to seemingly slippery issues in labour market theory, estimation theory and economic dynamics in general, and surveys the entire field of the economics of search, including its history, theory, and econometric applications. Theoretical models of the economics of search are covered as well as estimation methods used in search theory and topics covered include job search, turnover, unemployment, liquidity, house selling, real options and auctions. The mathematical methods used in search theory such as dynamic programming are reviewed as well as structural estimation methods and econometric methods for duration models. The authors also explore the classic sequential search model and its extensions in addition to recent advances in equilibrium search theory.

Author: John R. Boatright
Publisher: John Wiley & Sons
ISBN: 0470768118
Category : Business & Economics
Languages : en
Pages : 851

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Book Description
A groundbreaking exploration of the critical ethical issues in financial theory and practice Compiled by volume editor John Boatright, Finance Ethics consists of contributions from scholars from many different finance disciplines. It covers key issues in financial markets, financial services, financial management, and finance theory, and includes chapters on market regulation, due diligence, reputational risk, insider trading, derivative contracts, hedge funds, mutual and pension funds, insurance, socially responsible investing, microfinance, earnings management, risk management, bankruptcy, executive compensation, hostile takeovers, and boards of directors. Special attention is given to fairness in markets and the delivery of financial services, and to the duties of fiduciaries and agents Rigorous analysis of the topics covered provides essential information and practical guidance for practitioners in finance as well as for students and academics with an interest in finance ethics Ethics in Finance skillfully explains the need for ethics in the personal conduct of finance professionals and the operation of financial markets and institutions.

Author: John Eatwell
Publisher: Springer
ISBN: 1349117218
Category : Business & Economics
Languages : en
Pages : 869

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Book Description
The first reference work ever to be awarded the Eccles Prize for Excellence in Economic Writing from Columbia Business School. Continuing in the tradition of The New Palgrave , this 3-volume set provides an unparalleled guide to modern money, banking and finance. In over 1,000 substantial essays by leading academic and professional authorities, it provides the most comprehensive analysis available of contemporary theory and the fast-evolving global monetary and financial framework. In its scope and depth of coverage, it is indispensable for the academic and practitioner alike.

Author: William N. Butos
Publisher: Emerald Group Publishing
ISBN: 1849509751
Category : Business & Economics
Languages : en
Pages : 414

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Book Description
Examines the relevance and significance of Hayek's cognitive psychology for economics and social science.

Author: Helyette Geman
Publisher: John Wiley & Sons
ISBN: 0470687738
Category : Business & Economics
Languages : en
Pages : 479

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Book Description
The last few years have been a watershed for the commodities, cash and derivatives industry. New regulations and products have led to an explosion in the commodities markets, creating a new asset for investors that includes hedge funds as well as University endowments, and has resulted in a spectacular growth in spot and derivative trading. This book covers hard and soft commodities (energy, agriculture and metals) and analyses: Economic and geopolitical issues in commodities markets Commodity price and volume risk Stochastic modelling of commodity spot prices and forward curves Real options valuation and hedging of physical assets in the energy industry It is required reading for energy companies and utilities practitioners, commodity cash and derivatives traders in investment banks, the Agrifood business, Commodity Trading Advisors (CTAs) and Hedge Funds. In Commodities and Commodity Derivatives, Hélyette Geman shows her powerful command of the subject by combining a rigorous development of its mathematical modelling with a compact institutional presentation of the arcane characteristics of commodities that makes the complex analysis of commodities derivative securities accessible to both the academic and practitioner who wants a deep foundation and a breadth of different market applications. It is destined to be a "must have" on the subject.” —Robert Merton, Professor, Harvard Business School "A marvelously comprehensive book of interest to academics and practitioners alike, by one of the world's foremost experts in the field." —Oldrich Vasicek, founder, KMV

Author: Carl Shapiro
Publisher: Harvard Business Press
ISBN: 9780875848631
Category : Business & Economics
Languages : en
Pages : 374

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Book Description
As one of the first books to distill the economics of information and networks into practical business strategies, this is a guide to the winning moves that can help business leaders--from writers, lawyers and finance professional to executives in the entertainment, publishing and hardware and software industries-- navigate successfully through the information economy.

Author: John B. Taylor
Publisher: Elsevier
ISBN: 0444594884
Category : Business & Economics
Languages : en
Pages : 3009

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Book Description
Handbook of Macroeconomics Volumes 2A and 2B surveys major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues, including fiscal, monetary, and regulatory policies to deal with crises, unemployment, and economic growth. As this volume shows, macroeconomics has undergone a profound change since the publication of the last volume, due in no small part to the questions thrust into the spotlight by the worldwide financial crisis of 2008. With contributions from the world's leading macroeconomists, its reevaluation of macroeconomic scholarship and assessment of its future constitute an investment worth making. - Serves a double role as a textbook for macroeconomics courses and as a gateway for students to the latest research - Acts as a one-of-a-kind resource as no major collections of macroeconomic essays have been published in the last decade - Builds upon Volume 1 by using its section headings to illustrate just how far macroeconomic thought has evolved

Author: Pascal Petit
Publisher: Springer Science & Business Media
ISBN: 1475733674
Category : Science
Languages : en
Pages : 210

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Book Description
The notion of information is multifaceted. According to the case, it is a simple signal or already knowledge. lt responds to codes and is inscribed into a social relationship. There are clearly many perspectives which the social sciences can take to analyse the notion of information. The economy cannot account for the majority of situations where, in the activities of production, consumption or exchange, the notion of information finds itself implied, although each school of thought has its own understanding of the notion of information. This book takes this observation as a starting point and goes on to clarify a contemporary debate on the economy of information which remains quite vague, making use of the ways in which different theoretical approaches deal with information. To seize the nature and scope of the transformations in our societies, a consequence of our new ways of handling, stocking and circulating information in the workings of the markets like Organisations, such a theoretical exercise seems useful. The organisation of the book results from this choice. The contributions gathered in one part deal with the role of information in the functioning of the markets, those featuring in another are more interested in the organisations. To favour an enriching cross-reading of approaches developed in the two sections already referred to, we have preceded these with a section gathering approaches (which are more transversal) developing different theories of information (according to perspectives which are, respectively, systematic, statistical or strategic).