Financial Organization.

Financial Regression and Organization

A central element in organization of financial means consists in the constitution, analysis and optimization of portfolios. As in many processes in nature, technology and economy, financial processes suffer from stochastic fluctuations and noise. Therefore, we consider stochastic differential equations [19]. As a drawback, these equations are often hard to represent and to resolve. We express t...

Self-Organization and the Generation of Noise in Financial Markets

A dynamic model of financial markets with learning is demonstrated to produce a selforganized system that displays critical behavior. The price contains private information that traders learn to extract and employ to forecast future value. Since the price reflects the beliefs of the traders, the learning process is self referencing. As the market learns to correctly extract information from the...

Adopting Model Driven Development in a Large Financial Organization

Financial performance in the social health maintenance organization, 1985-88

Since early 1985, four social health maintenance organizations have delivered integrated health and long-term care services to Medicare beneficiaries under congressionally mandated waivers that included shared public-program risk for losses. Three of four sites had substantial losses in the first 3 years, primarily because of slow enrollment and resultant high marketing and administrative costs...

Market Organization and the Prices of Financial Assets*

Several empirical regularities in the prices of financial assets are at odds with the predictions of standard economic theory. I address these regularities and explore the extent to which they are resolved in the context of two markets organized in very different ways. The first setting is a neoclassical economy with incomplete markets and heterogeneous agents. Market incompleteness naturally a...