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Uncertainty, expectations, and financial instability : reviving Allais's lost theory of psychological time /
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...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
New York :
Columbia University Press,
2014.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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 hyperinflation, Allais's theory proves economic agents perceive the flow of clocks' time and forget the past at a context-dependent pace: rapidly in the presence of persistent and accelerating inflation and slowly in the event of the opposite situation. Barthalon recasts Allais's work as a general theory. |
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| Descripción Física: | 1 online resource (xlvi, 396 pages) : illustrations |
| Bibliografía: | Includes bibliographical references and index. |
| ISBN: | 9780231538305 0231538308 9781322545530 1322545537 |