Leaving unemployment for self-employment

an empirical study

A game theory analysis of options

corporate finance and financial intermediation in continuous time

This book shows how to combine game theory and option pricing in order to analyze dynamic multiperson decision problems in continuous time and under uncertainty. The basic intuition of the method is to separate the problem of the valuation of payoffs from the analysis of ...

Policy competition and policy cooperation in a monetary union

This book studies the interactions between monetary and fiscal policies in the Euro area. The policy makers are the union central bank, the German government, the French government and other governments. The policy targets are price stability in the union, full employment in Germany, full ...

Economics as an agent-based complex system

toward agent-based social systems sciences

In agent-based modeling the focus is very much on agent-based simulation, as simulation is a very important tool for agent-based modeling. We also use agent-based simulation in this book with a stress on the mathematical foundation of agent-based modeling. We introduce two original mathematical frameworks ...

Risk-neutral valuation

pricing and hedging of financial derivatives

This second edition - completely up to date with new exercises - provides a comprehensive and self-contained treatment of the probabilistic theory behind the risk-neutral valuation principle and its application to the pricing and hedging of financial derivatives. On the probabilistic side, both discrete- and continuous-time stochastic ...

Derivative securities and difference methods

This book is devoted to determining the prices of financial derivatives using a partial differential equation approach.In the first part the authors describe the formulation of the problems(including related free- boundary problems) and derive the closed form solutions if they have been found ...

Mathematical methods in economics and social choice

In recent years, the usual optimization techniques, which have proved so useful in microeconomic theory, have been extended to incorporate more powerful topological and differential methods, and these methods have led to new results on the qualitative behavior of general economic and political systems. These ...

Economics of the environment

theory and policy

The book interprets nature and the environment as a scarce resource. It offers a theoretical study of the allocation problem and describes different policy approaches to the environmental problem. The entire spectrum of the allocation issue is studied: the use of the environment in a ...

Elements of international economics

This book details how an open economy functions. It explores the determinants of international flows of commodities and financial assets as well as examines the effects of these flows on the domestic and international economy and the possible policy actions at the national and international ...

Explanatory item response models

a generalized linear and nonlinear approach

Statistics of financial markets

an introduction

Statistical analysis and data display

an intermediate course with examples in S-Plus,R,and SAS

This contemporary presentation of statistical methods features extensive use of graphical displays for exploring data and for displaying the analysis. The authors demonstrate how to construct and interpret graphs, discuss principles of graphical design, and show how accompanying traditional tabular results are used to confirm ...

Monte Carlo statistical methods

Monte Carlo statistical methods, particularly those based on Markov chains, are now an essential component of the standard set of techniques used by statisticians. This new edition has been revised towards a coherent and flowing coverage of these simulation techniques, with incorporation of the most ...

Default risk in bond and credit derivatives markets

Macroeconomic policies in the world economy

The integration of goods and financial markets has progressed on a global scale in recent years. Thus, the cyclical patterns in the world economy may have changed too. Against this background, experts in international economics analyze the synchronization of business cycles and their volatility in ...

Stochastic calculus for finance

II. Continuous-time models

"A wonderful display of the use of mathematical probability to derive a large set of results from a small set of assumptions. In summary, this is a well-written text that treats the key classical models of finance through an applied probability approach...It should serve ...

Sovereign risk and financial crises

Sovereign risk and financial crises play a key role in current international economic developments, particularly in the case of economic downturns. As the Asian economic crisis in the late 1990s revealed once again, financial crises are the rule rather than the exception in capitalist economies ...

Stochastic implied volatility

a factor-based model

This book presents a factor-based model of the stochastic evolution of the implied volatility surface. The model allows for the integrated and consistent pricing and hedging, risk management, and trading of equity index derivatives as well as volatility derivatives. In the first part, the book ...

Empirical finance

modelling and analysis of emerging financial and stock markets

The emphasis of this book is on understanding special characteristics of the financial systems of emerging markets, where the existence of market imperfections such as asymmetric information, adverse selection and moral hazard can cause financial market failures. Considering the Thai stock market as an example ...

Intellectual Property management

the role of technology-brands in the appropriation of technological innovation

The book investigates the interplay of brand equity and technological assets at the corporate level. In a grounded theory approach it develops a model of how companies in technology intensive industries can improve the appropriation of the returns of their intangible technological assets with the ...

Sustainable development and innovation in the energy sector

Almost every energy scenario assumes an enormous growth in the demand for energy in the coming decades. Meanwhile, at international conferences and other venues, the primary concern is massive reduction of greenhouse gas emissions, especially of the CO2 produced by fossil-fuel energy consumption. Experts also ...

Beyond Kyoto

a new global climate certificate system: continuing Kyoto Commitments or a global'Cap and trade'scheme for a sustainable climate policy?

This balanced analysis presents news from the #climate-protection front#. On the down-side, neither the current 'Kyoto-Protocol' Climate Protection System with (legally binding) commitments by major countries to reduce or limit their greenhouse gas emissions nor various proposals for improving the commitment system are capable of ...