منابع مشابه
a study on rate making and required reserves determination in reinsurance market: a simulation
reinsurance is widely recognized as an important instrument in the capital management of an insurance company as well as its risk management tool. this thesis is intended to determine premium rates for different types of reinsurance policies. also, given the fact that the reinsurance coverage of every company depends upon its reserves, so different types of reserves and the method of their calc...
Exchange Market Mechanisms without Money
We introduce and study the following exchange market mechanism problem without money: consider a set of agents who wish to obtain a set of items, and have a set of items to offer to others. An exchange market mechanism specifies for each agent a subset of items to give away, and another subset of items that he would receive in exchange. Each agent would like to maximize the number of items he r...
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The current discussion about the future of the financial system draws heavily on a set of theories known as the ‘New Monetary Economics’. The New Monetary Economics predicts that deregulation and financial innovation will lead to a moneyless world. This paper uses a market microstructure approach to show that a common medium of exchange that serves as unit of account will remain a necessary ins...
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We use an information-theoretic approach to describe changes in lending relationships between financial institutions around the time of the Lehman Brothers failure. Unlike previous work that conducts maximum likelihood estimation on undirected networks our analysis distinguishes between borrowers and lenders and looks for broader lending relationships (multi-bank lending cycles) that extend bey...
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Quantum money is a cryptographic protocol in which a bank can create quantum states which anyone can verify but no one except possibly the bank can clone or forge. Aaronson [1] proposed a scheme for this, which we show to be insecure. On the positive side, we propose a new scheme, and conjecture that it is secure. Our scheme is inherently quantum, in the sense that there are no classical secret...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 1960
ISSN: 0022-1082
DOI: 10.2307/2976480