Uncertainty, expectations, and financial instability : reviving allais's lost theory of psychological time (Book, 2014) [WorldCat.org]
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Uncertainty, expectations, and financial instability : reviving allais's lost theory of psychological time

Author: Eric Barthalon
Publisher: New York : Columbia University Press, [2014]
Edition/Format:   Print book : EnglishView all editions and formats

Eric Barthalon applies the neglected theory of psychological time and memory decay of Maurice Allais to model investors' psychology in the present context of recurrent financial crises


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Named Person: Maurice Allais; Maurice Allais
Document Type: Book
All Authors / Contributors: Eric Barthalon
ISBN: 0231166281 9780231166287
OCLC Number: 908630125
Notes: Comprend un index.
Awards: Commended for Maurice Allais Prize in Economic Science 2015
Description: xlvi, 396 pages ; 24 cm
Contents: List of Tables List of Figures Preface Acknowledgments Introduction Glossary of Mathematical Symbols in Order of Appearance Part 1. The Progressive Emergence of Expectations in Economic Theory 1. Expectations Before the Rational Expectations Revolution 2. Rational Expectations Are Endogenous to and Abide by "the" Model Part 2. Allais's Theory of "Expectations" Under Uncertainty 3. Macrofoundations of Monetary Dynamics 4. Microfoundations of Monetary Dynamics: The HRL Formulation of the Demand for Money 5. The Fundamental Equation of Monetary Dynamics 6. Joint Testing of the HRL Formulation of the Demand for Money and of the Fundamental Equation of Monetary Dynamics Part 3. Transposing the HRL Formulation to Financial Markets: Preliminary Steps 7. Allais's HRL Formulation: Illustration of Its Dynamic Properties by an Example of Hyperinflation (Zimbabwe 2000-2008) 8. The HRL Formulation and Nominal Interest Rates Part 4. The HRL Formulation and Financial Instability 9. Perceived Returns and the Modeling of Financial Behavior 10. Downside Potential Under Risk: The Allais Paradox and Its Conflicting Interpretations 11. Downside Potential Under Uncertainty: The Perceived Risk of Loss 12. Conclusion Appendix A: How to Compute Zn and zn Appendix B: Nominal Interest Rates and the Perceived Rate of Nominal Growth Appendix C: Proofs Appendix D: Comparison Between the Kalman Filter and Allais's HRL Algorithm Appendix E: A Note on the Theory of Intertemporal Choice Appendix F: Allais's Cardinal Utility Function Notes Bibliography Index
Responsibility: Eric Barthalon.
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The jury of the 2015 Maurice Allais prize in economic science has nominated a seasoned investment professional, Eric Barthalon, for his book, Uncertainty, Expectations, and Financial Instability. Read more...

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