Publications des institutions partenaires

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Le régime de responsabilité civile en matière d'émissions publiques de jetons digitaux (ICO)

Initial Coin Offerings (ICOs) consist of an innovative form of capital raising. In the digital era, it has become technically possible to raise substantial funds within a very short period of time. This paper analyses the civil liability regime applying to misrepresentations com-municated to investors acquiring tokens in an ICO. Pursuant to the prospectus liability provisions of the…

Institution partenaire

Université de Genève

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Français / 01/01/2018

Droit d’auteur 4.0 / Copyright 4.0

Cet ouvrage rassemble les contributions consacrées au droit d’auteur à l’ère du numérique et présentées lors de la Journée de Droit de la Propriété Intellectuelle (www.jdpi.ch) organisée le 22 février 2017 à l’Université de Genève.
Ces contributions sont: Blocage de sites web en droit suisse : des injonctions civiles et administratives de…

Institution partenaire

Université de Genève

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Français / 01/01/2018

DelibAnalysis: understanding online deliberation through automated discourse quality analysis and topic modeling

The thesis examines political discourse quality online and proposes a methodology for analyzing online conversations in an automated way. The study builds on Habermas' work by examining the quality of the public sphere in a digital age. Primarily, it examines the portion of the public sphere which deals with political discussions on online platforms. The proposed technique,…

Institution partenaire

Université de Genève

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English / 01/01/2018

Cumulative prospect theory and mean-variance analysis: a rigorous comparison

We propose a numerical optimization approach that can be used to solve portfolio selection problems including several assets and involving objective functions from cumulative prospect theory (CPT). Implementing the suggested algorithm, we compare asset allocations that are derived for CPT based on two different methods: maximizing CPT along the mean–variance efficient frontier so…

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English / 01/12/2017

The Code is the Model

Conventionally, agent-based models are specified in a combination of natural language and mathematical terms, and their implementation seen as an afterthought. I challenge this view and argue that it is the source code that represents the model best, with natural language and mathematical descriptions serving as documentation. This modeling paradigm is inspired by agile software…

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English / 01/12/2017

The Sovereign Debt Crisis: Rebalancing or Freezes?

Using high-frequency data we document that episodes of market turmoil in the European sovereign bond market are on average associated with large decreases in trading volume. The response of trading volume to market stress is conditional on transaction costs. Low transaction cost turmoil episodes are associated with volume increases (investors rebalance), while high transaction cost…

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English / 30/10/2017

Capital Regulation and Credit Fluctuations

We provide a rationale for imposing counter-cyclical capital ratios on banks. In our simple model, bankers cannot pledge the entire future revenues to investors, which limits borrowing in good and bad times. Complete markets do not sufficiently stabilize credit fluctuations, as banks allocate too much borrowing capacity to good states and too little to bad states. As a consequence,…

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English / 01/10/2017

Shadow banking and competition: Decomposing market power by activity

The term “shadow banking” refers to credit intermediation performed outside the regulated perimeter of traditional lenders. Banks, however, do play a significant role in it. The authors review the origins and characteristics of the shadow banking system, investigate how banks control various steps of the securitization process, and analyze the nexus with competition. They use a…

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English / 29/09/2017

Autoregressive Lag-Order Selection Using Conditional Saddlepoint Approximations

A new method for determining the lag order of the autoregressive polynomial in regression models with autocorrelated normal disturbances is proposed. It is based on a sequential testing procedure using conditional saddlepoint approximations and permits the desire for parsimony to be explicitly incorporated, unlike penalty-based model selection methods. Extensive simulation results…

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English / 19/09/2017

Portfolio Diversification and Systemic Risk in Interbank Networks

The recent credit crisis of 2007/08 has raised a debate about the so-called knife-edge properties of financial markets. The paper contributes to the debate shedding light on the controversial relation between risk-diversification and financial stability. We model a financial network where assets held by borrowers to meet their obligations, include claims against other borrowers and…

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English / 01/09/2017

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