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An agent-based simulation of the stolper–samuelson effect

We demonstrate that agent-based simulations can exhibit results in line with classic macroeconomic theory. In particular, we present an agent-based simulation of an Arrow–Debreu economy that accurately exhibits the Stolper–Samuelson effect as an emergent property. Absent of a Walrasian auctioneer or any other central coordination, we let firm and consumer agents of different types…

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English / 01/01/2017

All’s Well That Ends Well? On the Importance of how Returns are Achieved

We demonstrate that investor satisfaction and investment behavior are influenced substantially by the price path by which the final investor return is achieved. In a series of experiments, we analyze various different price paths. Investors are most satisfied if their assets first fall in value and then recover, and they are least satisfied with the opposite pattern, independent of…

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English / 01/01/2017

A Simple Macroeconomic Model with Extreme Financial Frictions

We develop a simple macroeconomic model with extreme financial frictions (no credit markets) and show that poverty traps can emerge even in the absence of leverage. In our model, farmers produce fruit by renting land from landlords. Crops are exposed to aggregate shocks (weather risk). To guarantee themselves a positive consumption level even after a bad crop, farmers store fruit as…

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English / 01/01/2017

Asymmetric stable Paretian distribution testing

Two new tests for the symmetric stable Paretian distribution with tail index 1 < α < 2 are proposed. The test statistics and their associated approximate p-values are instantly computed and do not require use of the stable density or distribution or maximum likelihood estimation. They exhibit high power against a variety of alternatives, and much higher power than the existing…

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English / 01/01/2017

How Much Is the Gap? Efficient Jump Risk-Adjusted Valuation of Leveraged Certificates

This paper develops a novel and highly efficient numerical algorithm for the gap risk-adjusted valuation of leveraged certificates. The existing literature relies on Monte Carlo simulations, which are not fast enough to be used in a market making environment. This is because issuers need to compute thousands of price updates per second. By valuing leveraged certificates as multi-…

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English / 01/01/2017

Measuring value sensitivity in medicine

Background: Value sensitivity – the ability to recognize value-related issues when they arise in practice – is an indispensable competence for medical practitioners to enter decision-making processes related to ethical questions. However, the psychological competence of value sensitivity is seldom an explicit subject in the training of medical professionals. In this contribution, we…

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English / 01/01/2017

Patient-specific multi-parametric computational model of lower limb muscle function from PET/MRI studies

Le but de la présente étude est d'étudier et de développer un modèle multidimensionnel des muscles des membres inférieurs spécifique pour le patient. Ce modèle combine des données anatomiques tridimensionnelles et des informations dynamiques fonctionnelles concernant la déformation musculaire, acquises à l'aide de l'imagerie PET et MRI.

Institution partenaire

Université de Genève

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English / 01/01/2017

The circular unitary ensemble and the Riemann zeta function: the microscopic landscape and a new approach to ratios

We show in this paper that after proper scalings, the characteristic polynomial of a random unitary matrix converges to a random analytic function whose zeros, which are on the real line, form a determinantal point process with sine kernel. Our scaling is performed at the so-called “microscopic” level, that is we consider the characteristic polynomial at points whose distance to $1$…

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English / 01/01/2017

Introducing spatial coverage in a semantic repository model

In this thesis, we propose a model for semantic digital libraries with a geospatial context and a definition of coverage as key concept. We present the document and spatial resource model. We define the annotation model and more particularly the geographic coverage that detail and define the location of each resource taking into account its type. Finally, we present the query model…

Institution partenaire

Université de Genève

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English / 01/01/2017

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