El profesional de la información
Information as an economic good: some thoughts on the 2008 financial crisis
Abstract
Information is a key economic resource. Its proper conceptualization, as well as its practical integration in socioeconomic environment, poses several questions and follows general premises. These are reviewed, and once this framework is estab lished it is illustrated with an informational [...]
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Research Reports of the International Centre for Numerical Methods in Engineering (CIMNE)
The efects of VaR position limits on endogenous price formation in financial markets
Abstract
This paper sets out to study the impact that market risk limits have on the price dynamics in securities markets. We start out from a standard model in which trading patterns are determined for utility-maximising investors in non-clearing markets with a particularly simple price [...]
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