ﻻ يوجد ملخص باللغة العربية
How do we assign value to economic transactions? To answer this question, we must consider whether the value of objects is inherent, is a product of social interaction, or involves other mechanisms. Economic theory predicts that there is an optimal price for any market transaction, and can be observed during auctions or other bidding processes. However, there are also social, cultural, and cognitive components to the assignation of value, which can be observed in both human and non-human Primate societies. While behaviors related to these factors are embedded in market interactions, they also involve a biological substrate for the assignation of value (valuation). To synthesize this diversity of perspectives, we will propose that the process of valuation can be modeled computationally and conceived of as a set of interrelated cultural evolutionary, cognitive, and neural processes. To do this, contextual geometric structures (CGS) will be placed in an agent-based context (minimal and compositional markets). Objects in the form of computational propositions can be acquired and exchanged, which will determine the value of both singletons and linked propositions. Expected results of this model will be evaluated in terms of their contribution to understanding human economic phenomena. The paper will focus on computational representations and how they correspond to real-world concepts. The implications for evolutionary economics and our contemporary understanding of valuation and market dynamics will also be discussed.
This paper investigates the impact of economic policy uncertainty (EPU) on the crash risk of US stock market during the COVID-19 pandemic. To this end, we use the GARCH-S (GARCH with skewness) model to estimate daily skewness as a proxy for the stock
This paper analyzes the equilibrium distribution of wealth in an economy where firms productivities are subject to idiosyncratic shocks, returns on factors are determined in competitive markets, dynasties have linear consumption functions and governm
Standard approaches to the theory of financial markets are based on equilibrium and efficiency. Here we develop an alternative based on concepts and methods developed by biologists, in which the wealth invested in a financial strategy is like the abu
In the current era of worldwide stock market interdependencies, the global financial village has become increasingly vulnerable to systemic collapse. The recent global financial crisis has highlighted the necessity of understanding and quantifying in
Socio-economic inequality is measured using various indices. The Gini ($g$) index, giving the overall inequality is the most commonly used, while the recently introduced Kolkata ($k$) index gives a measure of $1-k$ fraction of population who possess