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The necessity of multi-disciplinary scholarship for finance: On Ayache and Roffe
In: Finance and society, Band 2, Heft 2, S. 189-204
ISSN: 2059-5999
AbstractAyache presents a view of markets and mathematics that attempts to conform to the philosophies of Alain Badiou and Quentin Meillassoux. However, this attempt is unsuccessful because Ayache adopts a view of probability rooted in nineteenth-century conceptions that cannot accommodate the radical uncertainty of the markets. This is unfortunate as it is reasonable to believe that the ideas of Badiou and Meillassoux, when synthesised with contemporary ideas of probability, could offer interesting insights. Roffe presents a better argued synthesis of Deleuze and markets, however he makes similar assumptions about contemporary probability that undermine his conclusions.
Discourse ethics for debt markets
In: Finance and society, Band 2, Heft 1, S. 62-85
ISSN: 2059-5999
Abstract
This article develops a pragmatic theory of finance in which markets are
considered to be centres of communicative action in the face of uncertainty.
This contrasts with the conventional approach that portrays markets as
centres of strategic action in the face of scarcity. The argument follows
Habermas and entails that a financial market must address the truthfulness,
truth, and rightness of the statements made by its participants (i.e., the
prices quoted). I claim that these discursive norms have been implicit in
historical financial markets as expressed in the norms of sincerity,
reciprocity, and charity. I conclude by proposing that 'trust' in commerce
is a synthesis of the three discursive norms. The motivation of the article
is to address the crisis of legitimacy that the financial system is
experiencing, particularly in the United Kingdom (UK) and the United States
(US).
Reciprocity as a Foundation of Financial Economics
In: Journal of Business Ethics, Forthcoming
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Reciprocity as a Foundation of Financial Economics
In: Journal of business ethics: JBE, Band 131, Heft 1, S. 43-67
ISSN: 1573-0697
Inequality risk premia
In: Journal of Monetary Economics, Band 59, Heft 6, S. 565-580
Liquid Capital and Market Liquidity
In: The economic journal: the journal of the Royal Economic Society, Band 119, Heft 540, S. 1374-1404
ISSN: 1468-0297
Optimal learning and new technology bubbles
In: Journal of Monetary Economics, Band 54, Heft 8, S. 2486-2511
Funding Liquidity and Market Liquidity in Government Bonds
In: Journal of Banking and Finance, Forthcoming
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Bank Use of Sovereign CDS in the Eurozone Crisis: Hedging and Risk Incentives
In: CEPR Discussion Paper No. DP16628
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Bank Use of Sovereign CDS in the Eurozone Crisis: Hedging and Risk Incentives
In: Deutsche Bundesbank Discussion Paper No. 26/2018
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