Market Entropy

Market Entropy

Author: Rajagopal

Publisher: Business Expert Press

Published: 2020-04-27

Total Pages: 174

ISBN-13: 1951527895

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This book discusses competitive market dynamics explain contextual market entropy caused because of swift changes in the innovation and technology scenarios. It delineates the attributes of cognitive ergonomics of consumers responding to the market dynamics under the shrinking scenarios of large markets. The author analyzes the emerging theory of chaos, fragmentation of markets, and agile business models to gain advantage in the competitive marketplace and deliberates upon factors that are critical to success of firms. In addition, this book presents new insights on developing hybrid business models using both aggressive and defensive marketing strategies to manage market chaos and behavioral complexities of consumers.


The Principle of Trading Economics

The Principle of Trading Economics

Author: Zhenying Wang

Publisher: Springer Nature

Published: 2019-11-23

Total Pages: 871

ISBN-13: 9811503796

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This book is devoted to establishing a completely new concept within economics referred to as "trading economics" which is a reconstructed economic system in theory that seeks perfect harmony between micro and macro elements in a structured way, hence making the economic theory a rigorous system supported by internal logical continuity. Representing a revolution of the existing theoretical framework, trading economics has changed the logic of mainstream economics. Specifically, it deduces the "macro whole" from the "micro individuals", and it introduces a systematic and comprehensive analysis approach. It stresses that within an interconnected world, the interaction between trading agents is the fundamental driving force behind the operation, development and evolution of the economic system.


Entropy Measures, Maximum Entropy Principle and Emerging Applications

Entropy Measures, Maximum Entropy Principle and Emerging Applications

Author: Karmeshu

Publisher: Springer

Published: 2012-10-01

Total Pages: 300

ISBN-13: 3540362126

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The last two decades have witnessed an enormous growth with regard to ap plications of information theoretic framework in areas of physical, biological, engineering and even social sciences. In particular, growth has been spectac ular in the field of information technology,soft computing,nonlinear systems and molecular biology. Claude Shannon in 1948 laid the foundation of the field of information theory in the context of communication theory. It is in deed remarkable that his framework is as relevant today as was when he 1 proposed it. Shannon died on Feb 24, 2001. Arun Netravali observes "As if assuming that inexpensive, high-speed processing would come to pass, Shan non figured out the upper limits on communication rates. First in telephone channels, then in optical communications, and now in wireless, Shannon has had the utmost value in defining the engineering limits we face". Shannon introduced the concept of entropy. The notable feature of the entropy frame work is that it enables quantification of uncertainty present in a system. In many realistic situations one is confronted only with partial or incomplete information in the form of moment, or bounds on these values etc. ; and it is then required to construct a probabilistic model from this partial information. In such situations, the principle of maximum entropy provides a rational ba sis for constructing a probabilistic model. It is thus necessary and important to keep track of advances in the applications of maximum entropy principle to ever expanding areas of knowledge.


Option Pricing in Incomplete Markets

Option Pricing in Incomplete Markets

Author: Yoshio Miyahara

Publisher: World Scientific

Published: 2012

Total Pages: 200

ISBN-13: 1848163487

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This volume offers the reader practical methods to compute the option prices in the incomplete asset markets. The [GLP & MEMM] pricing models are clearly introduced, and the properties of these models are discussed in great detail. It is shown that the geometric L(r)vy process (GLP) is a typical example of the incomplete market, and that the MEMM (minimal entropy martingale measure) is an extremely powerful pricing measure. This volume also presents the calibration procedure of the [GLP \& MEMM] model that has been widely used in the application of practical problem


Statistical Mechanics

Statistical Mechanics

Author: James Sethna

Publisher: OUP Oxford

Published: 2006-04-07

Total Pages: 374

ISBN-13: 0191566217

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In each generation, scientists must redefine their fields: abstracting, simplifying and distilling the previous standard topics to make room for new advances and methods. Sethna's book takes this step for statistical mechanics - a field rooted in physics and chemistry whose ideas and methods are now central to information theory, complexity, and modern biology. Aimed at advanced undergraduates and early graduate students in all of these fields, Sethna limits his main presentation to the topics that future mathematicians and biologists, as well as physicists and chemists, will find fascinating and central to their work. The amazing breadth of the field is reflected in the author's large supply of carefully crafted exercises, each an introduction to a whole field of study: everything from chaos through information theory to life at the end of the universe.


Market Microstructure Theory

Market Microstructure Theory

Author: Maureen O'Hara

Publisher: John Wiley & Sons

Published: 1998-03-06

Total Pages: 310

ISBN-13: 0631207619

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Written by one of the leading authorities in market microstructure research, this book provides a comprehensive guide to the theoretical work in this important area of finance.


The Entropy Vector

The Entropy Vector

Author: Robert D. Handscombe

Publisher: World Scientific

Published: 2004

Total Pages: 198

ISBN-13: 9812385711

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The authors suggest that a clearer understanding of entropy and the choices it presents will assist in management of change--or, as they put it, to manage disorder one needs to control the entropy vector.


Generalized Entropy Theory of Information and Market Patterns

Generalized Entropy Theory of Information and Market Patterns

Author: Jing Chen

Publisher:

Published: 2005

Total Pages: 17

ISBN-13:

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We develop an economic theory of information generalized from the entropy theory of information and show that it provides the foundation to understand market behavior. One fundamental result from this information theory is that information with higher value is in general more costly. Another fundamental result from this information theory is that the amount of information one can receive is the amount of information generated minus equivocation. The level of equivocation, which is the measure of information asymmetry, is determined by the correlation between the source of information and the receiver of information. How much information one can receive depends on the background knowledge of the receiver. In general, industry insiders understand information earlier than other investors; large investors, who are willing to spend more to collect and analyze information, generally utilize different kinds of information from small investors. This heterogeneity in information processing by the investment public offers a simple understanding of the price and volume patterns uncovered in the empirical studies, which have been unable to be explained by the existing theories in behavioral finance.


Economic and Financial Market Behaviour

Economic and Financial Market Behaviour

Author: Emil Dinga

Publisher: Springer Nature

Published: 2023-08-07

Total Pages: 331

ISBN-13: 3031317025

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This book explores the interplay between financial markets, economic systems, and society. Through introducing the concept of autopoiesis, based on the newly conceived Autopoietic Market Hypothesis, ideas of evolution are applied to financial markets to highlights the ways in which economic systems change as they are subject to social selection. By placing this perspective on financial markets, economic development and flows are seen as part of a living system that is influenced by social and political trends. Ideas of integral utility, the logical model of autopoietic financial markets, economic fitness, and the mutation of economic markets are also discussed. This book presents a new and distinctive perspective on financial markets and economic systems. It will be of interest to students, researchers, and policymakers working within financial economics.


Dynamics of Markets

Dynamics of Markets

Author: Joseph L. McCauley

Publisher: Cambridge University Press

Published: 2009-09-03

Total Pages: 287

ISBN-13: 1139479571

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This second edition presents the advances made in finance market analysis since 2005. The book provides a careful introduction to stochastic methods along with approximate ensembles for a single, historic time series. The new edition explains the history leading up to the biggest economic disaster of the 21st century. Empirical evidence for finance market instability under deregulation is given, together with a history of the explosion of the US Dollar worldwide. A model shows how bounds set by a central bank stabilized FX in the gold standard era, illustrating the effect of regulations. The book presents economic and finance theory thoroughly and critically, including rational expectations, cointegration and arch/garch methods, and replaces several of those misconceptions by empirically based ideas. This book will be of interest to finance theorists, traders, economists, physicists and engineers, and leads the reader to the frontier of research in time series analysis.