Theory And Reality In Financial Economics
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Author |
: George M. Frankfurter |
Publisher |
: World Scientific |
Total Pages |
: 238 |
Release |
: 2007 |
ISBN-10 |
: 9789812770004 |
ISBN-13 |
: 9812770003 |
Rating |
: 4/5 (04 Downloads) |
Synopsis Theory and Reality in Financial Economics by : George M. Frankfurter
The current literature on financial economics is dominated by neoclassical dogma and, supposedly, the notion of value-neutrality. However, the failure of neoclassical economics to deal with real financial phenomena suggests that this might be too simplistic of an approach. This book consists of a collection of essays dealing with financial markets'' imperfections, and the inability of neoclassical economics to deal with such imperfections. Its central argument is that financial economics, as based on the tenets of neoclassical economics, cannot answer or solve the real-life problems that people face. It also shows the direct relationship between economics and politics OCo something that is usually denied in academic models, given that science is supposed to be value-neutral. In this thought-provoking and avant-garde book, the author not only exposes what has gone wrong, but also suggests reforms to both the academic and the political-economic systems that might help make markets fair rather than efficient. Drawing on interdisciplinary fields, this book will appeal to readers who are interested in finance, economics, business, the political economy and philosophy. Sample Chapter(s). Foreword (37 KB). Chapter 1: Method and Methodology (146 KB). Contents: Method and Methodology; What is All Efficiency?; Still Autistic Finance; The Young Finance Faculty''s Guide to Publishing; Prolific Authors in Finance; For-Profit Education: An Idea That Should be Put to Rest?; Weep Not for Microsoft: Monopoly''s Fatal Exception; The Socio-Economics of Scandals; Desperately Seeking Toto; And Now for Something Entirely Different; After the Ball; Capitalism or Industrial Fiefdom; The Theory of Fair Markets (TFM): Toward a New Finance Paradigm. Readership: Graduate students of finance; students of economics, economic methodology and philosophy of science."
Author |
: Tony Lawson |
Publisher |
: Psychology Press |
Total Pages |
: 388 |
Release |
: 1997 |
ISBN-10 |
: 0415154200 |
ISBN-13 |
: 9780415154208 |
Rating |
: 4/5 (00 Downloads) |
Synopsis Economics and Reality by : Tony Lawson
Discusses and critiques the current practice of economics.
Author |
: Richard Bookstaber |
Publisher |
: Princeton University Press |
Total Pages |
: 236 |
Release |
: 2019-04-02 |
ISBN-10 |
: 9780691191850 |
ISBN-13 |
: 0691191859 |
Rating |
: 4/5 (50 Downloads) |
Synopsis The End of Theory by : Richard Bookstaber
An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.
Author |
: Bernt P. Stigum |
Publisher |
: MIT Press |
Total Pages |
: 389 |
Release |
: 2015 |
ISBN-10 |
: 9780262028585 |
ISBN-13 |
: 0262028581 |
Rating |
: 4/5 (85 Downloads) |
Synopsis Econometrics in a Formal Science of Economics by : Bernt P. Stigum
An examination of the role of theory in applied econometrics.
Author |
: Fabian Muniesa |
Publisher |
: Routledge |
Total Pages |
: 137 |
Release |
: 2014-05-16 |
ISBN-10 |
: 9781135090029 |
ISBN-13 |
: 1135090025 |
Rating |
: 4/5 (29 Downloads) |
Synopsis The Provoked Economy by : Fabian Muniesa
Do things such as performance indicators, valuation formulas, consumer tests, stock prices or financial contracts represent an external reality? Or do they rather constitute, in a performative fashion, what they refer to? The Provoked Economy tackles this question from a pragmatist angle, considering economic reality as a ceaselessly provoked reality. It takes the reader through a series of diverse empirical sites – from public administrations to stock exchanges, from investment banks to marketing facilities and business schools – in order to explore what can be seen from such a demanding standpoint. It demonstrates that descriptions of economic objects do actually produce economic objects and that the simulacrum of an economic act is indeed a form of realization. It also shows that provoking economic reality means facing practical tests in which what ought to be economic or not is subject to elaboration and controversy. This book opens paths for empirical investigation in the social sciences, but also for the philosophical renewal of the critique of economic reality. It will be useful for students and scholars in social theory, sociology, anthropology, philosophy and economics.
Author |
: Roger E. A. Farmer |
Publisher |
: Oxford University Press |
Total Pages |
: 209 |
Release |
: 2010-04-08 |
ISBN-10 |
: 9780199756377 |
ISBN-13 |
: 0199756376 |
Rating |
: 4/5 (77 Downloads) |
Synopsis How the Economy Works by : Roger E. A. Farmer
"Of all the economic bubbles that have been pricked," the editors of The Economist recently observed, "few have burst more spectacularly than the reputation of economics itself." Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning. Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore.
Author |
: Lars Tvede |
Publisher |
: John Wiley & Sons |
Total Pages |
: 512 |
Release |
: 2006-05-26 |
ISBN-10 |
: UOM:39015064716163 |
ISBN-13 |
: |
Rating |
: 4/5 (63 Downloads) |
Synopsis Business Cycles by : Lars Tvede
During our lifetime we experience any number of business cycle crises which undermine our confidence and lead many to their ruin. We also experience the ‘happy days’ when our faith in the future becomes almost limitless, and when we forget that tides always turn again. So how can we better understand and predict these cycles? To answer these questions Lars Tvede takes us through a story that moves back in time to the Scottish gambler and financial genius, John Law, and then on to the distracted Adam Smith, the stockbroker Ricardo, the investment banker Thornton, the extrovert Schumpeter, the speculator Gould and many others to trace the theory and reality of business cycles, as it has evolved over 300 years. Gradually we reach the computer jugglers of the modern day who, with giant networks of equations, try to solve the same questions that have attracted the attention of classical economists throughout the centuries. Lars Tvede concludes this historical journey with a summary of what the core of the problem is and how modern understanding of business cycles can be used to forecast economic fluctuations. The final sections of the book provide detailed studies and explanations to of how stocks, bonds, hedge funds, private equity funds, gold, diamonds, exchange rates, real estate, commodities, art and collectibles, and numerous sub-sectors of some of these markets each behave over different categories of business cycles.
Author |
: Siwei Cheng |
Publisher |
: World Scientific |
Total Pages |
: 358 |
Release |
: 2012 |
ISBN-10 |
: 9789814287913 |
ISBN-13 |
: 9814287911 |
Rating |
: 4/5 (13 Downloads) |
Synopsis China's Reality and Global Vision by : Siwei Cheng
This unique book presents the contemporary achievements in management research and managerial practice of Chinese enterprises. Featuring a collection of keynote and plenary speeches by well-known international scholars and CEOs of multinational and national corporations, this book puts forth their solutions to management challenges from both China''s reality and global concerns. Comprehensively discussed and examined, the various topics being broached are strategic management; organizational behaviors; accounting and finance; management science; information and technology management; as well as innovations. This book not only highlights the cutting-edge findings of management research in China but is also a reflection of the changes of management theory and applications in the face of China''s economic reform and open-door policy; hence making it a useful resource for readers interested in China''s management and economic development.
Author |
: John Davis |
Publisher |
: Routledge |
Total Pages |
: 240 |
Release |
: 2018-04-19 |
ISBN-10 |
: 9781315471594 |
ISBN-13 |
: 1315471590 |
Rating |
: 4/5 (94 Downloads) |
Synopsis Reflexivity and Economics by : John Davis
The form of ‘reflexivity’ – defined by the dictionary as that which is ‘directed back upon itself’ – that is most relevant to economic methodology is that where observation of the economy leads to ideas that change behavior, which in turn changes (is directed back upon) the economy itself. As George Soros explains: "if investors believe that markets are efficient then that belief will change the way they invest, and that in turn will change the nature of the markets they are observing ... That is the principle of reflexivity". Although various versions of reflexivity have long been discussed, in recent years George Soros has been particularly effective in bringing ideas about reflexivity to the attention of the economic and financial communities. In a series of writings he has systematically argued that reflexivity is not only an important aspect of economic life, it is an aspect that is neglected in most mainstream theorizing; and in addition, that the neglect of reflexivity has been responsible for the failure of economists to predict, explain, or offer a solution for events such as the recent financial crisis. Soros’ ideas about reflexivity have important methodological significance, and his chapter in this book summarizes and clarifies his arguments. His contribution is joined by those of thirteen scholars from a wide range of relevant fields, who provide a commentary on the idea of reflexivity in economics. This book was originally published as a special issue of The Journal of Economic Methodology.
Author |
: Philip Pilkington |
Publisher |
: Springer |
Total Pages |
: 370 |
Release |
: 2016-12-13 |
ISBN-10 |
: 9783319407579 |
ISBN-13 |
: 3319407570 |
Rating |
: 4/5 (79 Downloads) |
Synopsis The Reformation in Economics by : Philip Pilkington
This book carves the beginnings of a new path in the arguably weary discipline of economics. It combines a variety of perspectives – from the history of ideas to epistemology – in order to try to understand what has gone so wrong with economics and articulate a coherent way forward. This is undertaken through a dual path of deconstruction and reconstruction. Mainstream economics is broken down into many of its key component parts and the history of each of these parts is scrutinized closely. When the flaws are thoroughly understood the author then begins the task of reconstruction. What emerges is not a ‘Grand Unified Theory of Everything’, but rather a provisional map outlining a new terrain for economists to explore. The Reformation in Economics is written in a lively and engaging style that aims less at the formalization of dogma and more at the exploration of ideas. This truly groundbreaking work invites readers to rethink their current understanding of economics as a discipline and is particularly relevant for those interested in economic pluralism and alternative economics.