Although we certainly agree with Bernstein that a lot has been written about efficient markets
over the past forty years (actually, over the last sixty if you start counting with the General …

The linkages among entrepreneurship, creativity, innovation and economic growth are only
vaguely understood presently. This paper is an attempt to improve that understanding. The …

The article presents a post Keynesian view of modern financial economics. This observation
begins by finding what has happened in the area that calls itself financial economics. This …

We apply exploratory data analysis to some of the basic models of neoclassical computational
finance. These include the portfolio selection algorithm of Markowitz, the capital market …

Beginning perhaps with von Neumann and Morgenstern (1944), neoclassical theory has
consistently blurred the distinction between risk and uncertainty. Previously, Knight (1921) and …

* Considers neoclassical models in light of results that can go wrong with them to bring
about better models.* Questions the assumption that markets clear quickly.* Offers a timely …

The cardinal postulate of neoclassical economics is that individuals and entrepreneurs seek
to maximize their unique positions in the world. Yet behind this postulate is an even more …

The article presents some clarifying comments about discounting deferred tax liabilities.
Professor Hugo Nurnberg's basic position about the matter is that these liabilities constitute an …

Any realistic theory of the firm must take into account the governing structure of the enterprise.
Unfortunately, neoclassical economic theory ignores most of the problems associated with …

Method A: CA= exp (-r1) E [Max (O, S (T)-X)], where" E" denotes expectation. On the other
hand, it could also be argued that the person buying the option out of his assets is incurring an …