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This paper assesses the real option values of farmland using data from Ohio, USA. The option value of delaying the sale of a farm property was measured using an emerging, relatively new theory namely...
We develop a formalism to study linearized perturbations around the equilibria of a pure exchange economy. With the use of mean field theory techniques, we derive equations for the flow of products in...
We study scale invariant but not necessarily conformal invariant deformations of non-relativistic conformal field theories from the dual gravity viewpoint. We present the corresponding metric that sol...
The Marˇcenko-Pastur 1967 paper [1] on the spectrum of empirical correlation matrices is both remarkable and precocious. It turned out to be useful in many, very different contexts (neural networks, i...
In a nancial market, for agents with long investment horizons or at times of severe market stress, it is often changes in the asset price that act as the trigger for transactions or shifts in investm...
This article provides a survey on term structure models designed for pricing fixed income securities and their derivatives. 1 The past several decades have witnessed a rapid development in the fixed-i...
Themathematical model proposed by George Soros for his theory of reflexivity is analyzed under the framework of discrete dynamical systems. We show the importance of the notion of fixed points for exp...
Theory of market fluctuations     Theory  market  fluctuations       2010/12/17
We propose coalescent mechanism of economic grow because of redistribution of external resources. It leads to Zipf distribution of firms over their sizes, turning to stretched exponent because of size...
It is known that the impact of transactions on stock price (market impact) is a concave function of the size of the order, but there exists little quantitative theory that suggests why this is so. I ...
We study productivity dispersions across workers, firms and industrial sectors. Empirical study of the Japanese data shows that they all obey the Pareto law, and also that the Pareto index decreases ...
Ping Chen, "Microfoundations of Macroeconomic Fluctuations and the Laws of Probability Theory: the Principle of Large Numbers vs. Rational Expectations Arbitrage," Journal of Economic Behavior & Organ...
This paper develops a formal economic theory that is mainly proposed to explain and study the Easterlin paradox — a puzzle at the heart of our lives: average happiness levels do not increase as countr...
We analyse the impact of labour turnover on profits. We extend the efficiency wage model of Salop (1979) by separating incumbent and newly hired workers in the production function. We show that an exo...
主讲人 Anthony Shorrocks 教授 World Institute for Development Economics Research (WIDER) 题目 Inequality and Poverty Analysis Using the Shapley Decomposition: Theory and Applications 时间 2005年4月21日(星期四)下午3:30...
主讲人 霍德明 教授 台湾国立政治大学 题目 Legal Restrictions and Sunspots:A Further Inquiry on the Real Bills Doctrine versus the Quantity Theory Debate 时间 2005年3月30日(星期三)下午2:00-3:30 地点 北京大学中国经济研究中心万众楼小教室 工作语言 中文 联系电话 6...

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