The ways in which people interact with their environment to generate their ... Cultural shared beliefs and values (e.g. not opening on Christmas day' ...
... actors who are not connected to each other brings fresh blood' to the system ... For example, I will only trade with market makers who fulfil their obligations. ...
Thus, opportunism is correlated positively with rewards for opportunistic ... TCE aims to tell us in which market structures opportunism is likely to develop. ...
Interaction between various areas may increase risk ... High Risk. Medium Risk. Medium Risk. Low Risk. Low. High. High. I. m. p. a. c. t. Probability ...
Expertise introduce constructed facts to the markets. Ties between actors are affected by construction of facts. ... Black-Scholes legitimised the market ...
... describe universal truths about human behaviour, but instead describes ... Such activities in combination with a supporting environment create institutions. ...
How the two elements would affect market behaviour is dependent ... Bank runs' are seen as self-fulfilling prophecy. However, they can be regarded as rational: ...
So, beyond a certain size, a single-crowd market breaks down to smaller units ... VaR numbers rose, reflecting the increased risk of holding positions, positions ...