Paving Wall Street: experimental economics and the quest for the perfect market
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York
Wiley
2002
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXII, 314 S. graph. Darst. |
| ISBN: | 0471121983 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
Foreword by Vernon L. Smith vii
Preface ix
Acknowledgments xvii
Chronology of Major Events xix
PART I BUBBLES AND EXPERIMENTS
1 Wind Tunnel Markets 3
Step into the Wind Tunnel 7
Our Road Map 11
2 Bargain Hunting 17
Capturing the Human Element 19
Rationality and Induced Value atYour Corner Grocer 20
Let s Make a Deal 24
Games and Strategies 27
It Came from Harvard 31
3 A Tale of Two Smiths 39
The Law of Supply and Demand 42
The Groping Market 48
New Market Rules 50
Perfect Without Knowledge 55
4 Bubbles in the Lab 59
Cycling Through Time 59
The Seasonal Shift 67
iii
IV CONTENTS
Speculators Enter the Laboratory 71
Behold the Bubble 77
On the Origin of Bubbles 83
5 Bubbles in the Wild 87
Asset Valuation and Efficient Markets 88
From Noise to Irrationality 92
Breaking the Bank 96
Bubbles: Rational or Irrational? 101
Potholes on Wall Street 102
PART II INSIDE MARKETS: OPTIONS,
INFORMATION, AND LIQUIDITY
6 Black Monday 109
Peering into the Abyss 110
The Quantitative Finance Revolution 112
It s There Until You Need It 118
Programmed to Trade 121
7 All the World s an Option 127
How Do You Value an Option? 129
The Formula for Options 136
The Universal Nature of Options 141
Options Rule on Wall Street 144
Spreads and the Risk of Default 148
Liquidity: The Ultimate Option 149
8 The Invisible Hand Discovers Prices 153
Price Impact and Market Manipulations 156
Toward Instantaneous Price Discovery 160
One Sided Auction Markets 163
Vickery s Solution 165
Deviant Auctions 168
9 Sending Signals and Keeping Score 171
Lemons Squeeze the Market Mechanism 172
The Theory of Market Signaling 175
Learning to Signal in the Laboratory 179
Prices as Scorekeepers 183
The Art of Indexing 185
The Limits to Aggregation 188
Contents v
10 It AH Comes Down to Money 193
Money, Expectations, and Illusion 196
The Emergence ojMoney 201
Future Money 202
PART III GRIDLOCK AND THE ROAD TO
SMART MARKETS
11 The Market Is Tied Up in Knots 207
Long Term Gridlock 209
Arbitrage Has Its Limits 215
Markets as Matchmakers 218
Smart Enough to Weave a Basket 220
12 Making Markets Intelligent 225
Adding Baskets to the Market 221
Self Arbitraging Markets 230
Recombinant Securities Markets 235
All or Nothing at All 236
Breaking the Law of a Single Price 238
13 The Smart Auction Block 243
Bandwidth for Sale 244
Location, Location, Location ... and Synergy, Too 246
Combinatorial Auctions: Optimization on the Fly 251
NASA s Awesome Wind Tunnel 253
Learning by Doing at the FCC 256
14 Good Intentions 261
FCC versus SEC 263
Powerless 265
The Rules of Engagement 268
Notes 211
Bibliography 281
Index 303
|
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| isbn | 0471121983 |
| language | English |
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| spelling | Miller, Ross M. Verfasser aut Paving Wall Street experimental economics and the quest for the perfect market Ross M. Miller New York Wiley 2002 XXII, 314 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Options (Finance) Stock exchanges Wertpapiermarkt (DE-588)4189708-0 gnd rswk-swf Wertpapiermarkt (DE-588)4189708-0 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009835319&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Miller, Ross M. Paving Wall Street experimental economics and the quest for the perfect market Options (Finance) Stock exchanges Wertpapiermarkt (DE-588)4189708-0 gnd |
| subject_GND | (DE-588)4189708-0 |
| title | Paving Wall Street experimental economics and the quest for the perfect market |
| title_auth | Paving Wall Street experimental economics and the quest for the perfect market |
| title_exact_search | Paving Wall Street experimental economics and the quest for the perfect market |
| title_full | Paving Wall Street experimental economics and the quest for the perfect market Ross M. Miller |
| title_fullStr | Paving Wall Street experimental economics and the quest for the perfect market Ross M. Miller |
| title_full_unstemmed | Paving Wall Street experimental economics and the quest for the perfect market Ross M. Miller |
| title_short | Paving Wall Street |
| title_sort | paving wall street experimental economics and the quest for the perfect market |
| title_sub | experimental economics and the quest for the perfect market |
| topic | Options (Finance) Stock exchanges Wertpapiermarkt (DE-588)4189708-0 gnd |
| topic_facet | Options (Finance) Stock exchanges Wertpapiermarkt |
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