Results 161 to 170 of about 35,866 (300)

Arbitrage and Equilibrium with Portfolio Constraints [PDF]

We consider a multiperiod financial exchange economy with nominal assets and restricted participation, where each agent’s portfolio choice is restricted to a closed, convex set containing zero, as in Siconolfi (1989). Using an approach that dates back to
Bernard Cornet, Ramu Gopalan
core  

Private money and money market integration: The role of payments infrastructure in nineteenth‐century Switzerland

The Economic History Review, EarlyView.
Abstract Using newly collected discount rate data for six Swiss cities from 1846 to 1893, we find no evidence of increasing integration during a 30‐year period of lightly regulated free banking. We attribute this to two structural issues: banks had incentives to ward off competitors by protecting their local monopolies or forming cartels, and there was
Daniel Kaufmann, Rebecca Stuart
wiley   +1 more source

Shared sensitivity to data distribution during learning in humans and transformer networks. [PDF]

Nat Hum Behav
Pesnot Lerousseau J, Summerfield C.
europepmc   +1 more source

The big impact of small change: Fresh estimates of English wheat market integration, 1693–1893

The Economic History Review, EarlyView.
Abstract Using existing and new price data sets, we provide the first estimates of market integration across England over the entire 200 years of the industrial revolution. We document a significant, though not huge, integration improvement for markets furthest from London. Full integration was achieved by the 1830s. Our price data sets vary in quality
Liam Brunt, Edmund Cannon
wiley   +1 more source

Designing a Policy Mechanism for Long-Duration Energy Storage: The British Experience. [PDF]

Curr Sustain Renew Energy Rep
Spyrou E, Suski A, Green R.
europepmc   +1 more source

PROJECTIVE SYSTEM APPROACH TO THE MARTINGALE CHARACTERIZATION OF THE ABSENCE OF ARBITRAGE [PDF]

The equivalence between the absence of arbitrage and the existence of an equivalent martingale measure fails when an infinite number of trading dates is considered. By enlarging the set of states of nature and the probability measure through a projective
María José Muñoz-Bouzo, Miguel Ángel Mirás, Alejandro Balbás   +2 more
core  

Atlantic trade and the West African market economy: New evidence from cowry imports, 1650–1905

The Economic History Review, EarlyView.
Abstract Between the seventeenth and twentieth centuries, billions of cowries arrived in West Africa, leaving one of the few quantitative traces available for historians to measure the Atlantic trade's impact on the precolonial market economy. Yet, current estimates substantially underestimate the volume of cowry imports.
María José Pont Cháfer
wiley   +1 more source

Canada's unregulated private health care market. [PDF]

Can J Surg
Ball CG, Gregg S, Harvey EJ.
europepmc   +1 more source

Asset mispricing, arbitrage, and volatility [PDF]

Market efficiency remains a contentious topic among financial economists. The theoretical case for efficient markets rests on the notion of risk-free, cost-free arbitrage. In real markets, however, arbitrage is not risk-free or cost-free.
William R. Emmons, Frank A. Schmid
core  

Risk premia reconsidered: Illiquidity and selection bias for stocks and corporate bonds in the pre‐First World War period

The Economic History Review, EarlyView.
Abstract Financial history is plagued by a visibility trap. Using the Brussels Stock Exchange (1850–1913), we demonstrate that asset illiquidity introduced selection bias, which systematically inflated historical risk premia. Applying a latent return model, we argue that correcting for this illiquidity decreases the equity and corporate bond risk ...
Justin Case, Eline Poelmans, Gertjan Verdickt   +2 more
wiley   +1 more source