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  • Articles  (7)
  • Blackwell Publishing Ltd  (7)
  • American Association of Petroleum Geologists (AAPG)
  • American Chemical Society
  • 1980-1984  (5)
  • 1960-1964  (2)
  • 1945-1949
  • Sociology  (7)
  • 1
    Electronic Resource
    Electronic Resource
    THE RANDOM-WALK HYPOTHESIS OF STOCK MARKET BEHAVIOR (1964)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 17 (1964), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: A model of the form xt - xt-1= etwhere xt is the price of a share at time t and et forms a sequence of independent random variates is postulated as a model of the price determining mechanism of stock markets.The form of the distribution function of the et's is investigated. In opposition to suggestions that have been made in connection with other speculative price mechanisms it is found that the distribution function appears to be well approximated by a normal distribution. There is no evidence that the data treated are samples from a stable process with an infinite variance.It is found that the model mentioned above, termed the random-walk model, provides a good explanation of the variation of stock market prices for daily observations of the price, and for the series formed by the price of every transaction taking place in the market. In the context of this model it is noted that it appears that the price determining mechanism continues to operate at a reduced ‘speed’ during times when the actual market is closed.While it has been suggested that a correlation between the volume of shares transacted and the absolute value of the first differences of the price series should be expected, no such correlation was observed.Two questions which the paper leaves open are the question of cross-sectional correlation between different shares, and the question of the possibility of information in moments of order greater than two.In conclusion the following law is stated: ‘The price determining mechanism described in Section II (i. e. the random-walk indicated above) is the only mechanism which is consistent with the unrestrained pursuit of the profit motive by the participants in the market’.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1964.tb02458.x
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  • 2
    Electronic Resource
    Electronic Resource
    THE NATIONAL DEBT CONTROVERSY: A REPLY (1982)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 35 (1982), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1982.tb00181.x
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  • 3
    Electronic Resource
    Electronic Resource
    The Economics of Optimism and Pessimism (1984)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 37 (1984), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: This paper suggests a way of incorporating the important concepts of optimism and pessimism into the accepted model of decision-making under uncertainty. We exploit the primitive notion that an optimist is someone who over-estimates (underestimates) the likelihood of favourable (unfavourable) outcomes. We show that this incorporation enables us to explain several commonly observed apparent violations of Subjective Expected Utility Theory. Several illustrations and economic applications are presented, and we show that attitude to ‘fate’ (as evidenced in optimism and pessimism) is a different dimension of personality than attitude to risk. We conclude by relating our extension of SEU theory to other recent extensions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1984.tb00748.x
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  • 4
    Electronic Resource
    Electronic Resource
    An Analysis of the Growth and Profitability of the World's Largest Firms 1972 to 1977 (1984)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 37 (1984), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Notes: The paper analyses the growth and profitability of the world's largest firms by reference to their size, degree of multinationality, main industry of operation, nationality of ownership and research intensity. The influence of size of firm on growth is stable but weak, its influence on profitability is negligible. Industry of operation has generally strongly influenced growth but the effect on profitability is not consistent amongst different time periods and samples. Division by research intensities of firms is significant in analysing growth, less in the analysis of profitability. Degree of multinationality does not contribute consistently to the explanatory power of the full equation for either dependent variable but nationality of ownership is a consistently powerful explanatory factor.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1984.tb00738.x
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  • 5
    Electronic Resource
    Electronic Resource
    The Vicious Circle Debate: Some Conceptual Distinctions (1983)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 36 (1983), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1983.tb02022.x
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  • 6
    Electronic Resource
    Electronic Resource
    RENT SEEKING: A SURVEY (1982)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 35 (1982), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1982.tb00174.x
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  • 7
    Electronic Resource
    Electronic Resource
    ECONOMIC WELFARISM AND PUBLIC POLICY (1961)
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 14 (1961), S. 0 
    Details
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-6435.1961.tb00371.x
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