Uncertainty, Expectations, and Financial Instability : : Reviving Allais's Lost Theory of Psychological Time /

Uncertainty, Expectations, and Financial Instability : : Reviving Allais's Lost Theory of Psychological Time / / Eric Barthalon.

Eric Barthalon applies the neglected theory of psychological time and memory decay of Nobel Prize-winning economist Maurice Allais (1911-2010) to model investors' psychology in the present context of recurrent financial crises. Shaped by the behavior of the demand for money during episodes of h...

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Superior document:Title is part of eBook package: De Gruyter Columbia University Press Complete eBook-Package 2014-2015
VerfasserIn:
Barthalon, Eric,
Place / Publishing House:New York, NY : : Columbia University Press, , [2014]
©2014
Year of Publication:2014
Language:English
Online Access:
Physical Description:1 online resource (448 p.) :; ‹B›Figures: ‹/B›100.
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Table of Contents:
  • Frontmatter
  • Contents
  • List of Tables
  • List of Figures
  • Acknowledgments
  • Glossary of Mathematical Symbols in Order of Appearance
  • CHAPTER ONE. Expectations Before the Rational Expectations Revolution
  • CHAPTER TWO. Rational Expectations Are Endogenous to and Abide by ''the'' Model
  • Introduction
  • CHAPTER THREE. Macrofoundations of Monetary Dynamics
  • CHAPTER FOUR. Microfoundations of Monetary Dynamics: The HRL Formulation of the Demand for Money
  • CHAPTER FIVE. The Fundamental Equation of Monetary Dynamics
  • CHAPTER SIX. Joint Testing of the HRL Formulation of the Demand for Money and of the Fundamental Equation of Monetary Dynamics
  • CHAPTER SEVEN. Allais's HRL Formulation: Illustration of Its Dynamic Properties by an Example of Hyperinflation (Zimbabwe 2000--2008)
  • CHAPTER EIGHT. The HRL Formulation and Nominal Interest Rates
  • CHAPTER NINE. Perceived Returns and the Modeling of Financial Behavior
  • CHAPTER TEN. Downside Potential Under Risk: The Allais Paradox and Its Conflicting Interpretations
  • CHAPTER ELEVEN. Downside Potential Under Uncertainty: The Perceived Risk of Loss
  • CHAPTER TWELVE. 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
  • Preface
  • Introduction

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