A more rigorous treatment of the Schwarzschild metric by making use of the energy-momentum tensor of a single point particle as source term shows that g00 = −{1− 2GM cr [1 + √ e(θ(r)− 1)]} exp[2(θ(r)− 1)] grr = {1− 2GM cr [1 + √ e(θ(r)− 1)]}−1 The existence of a discontinuity at r = 0 leads to an infinite repulsive force that will change the ultimate fate of a free fall test particle to a bounc...

Define the riskiness of a gamble as the reciprocal of the absolute risk aversion (ARA) of an individual with constant ARA who is indifferent between taking and not taking that gamble. We characterize this index by axioms, chief among them a “duality” axiom which, roughly speaking, asserts that less risk-averse individuals accept riskier gambles. The index is homogeneous of degree 1, monotonic w...

Let G be a group definable in a theory T . For every model M of T , the space SG(M) of the complete G-types over M is a G M -flow. We compare the Ellis semigroups related to the flows SG(M) and SG(N) when M ≺ ∗ N , focusing particularly on the groups into which the minimal left ideals in these semigroups split. In the case where T is an o-minimal expansion of the theory of reals and G is defina...

Abstract We provide the first systematic asset pricing analysis of one main safe categories, repurchase agreement (repo). Based on temporal and cross-sectional variation in short-term rates, we form a carry that, together with market factor, prices these near-money assets linear model. The depicts heterogeneity nonpecuniary convenience yields collateral increases safety premium liquidity reflec...

In this manuscript, empirical research on performance of various types of financial experts is reviewed. Financial experts are used as the umbrella term for financial analysts, stockbrokers, money managers, investors, and day-traders etc. The goal of the review is to find out about the abilities of financial experts to produce accurate forecasts, to issue profitable stock recommendations, as we...

Consider any investor who fears ruin facing any set of investments that satisfy no-arbitrage. Before investing, he can purchase information about the state of nature in the form of an information structure. Given his prior, information structure α is more informative than information structure β if whenever he rejects α at some price, he also rejects β at that price. We show that this complete ...

A more rigorous treatment of the Schwarzschild metric by making use of the energy-momentum tensor of a single point particle as source term shows that g00 = −{1− 2GM cr − 8GM cr (θ(r)− 1)} exp[2(θ(r)− 1)] grr = {1− 2GM cr − 8GM cr (θ(r)− 1)}−1 The existence of a discontinuity at r = 0 leads to an infinite repulsive force that will change the ultimate fate of a free fall test particle to a bounc...

Ross Levine and Sara Zervos Abstract: Do well-functioning stock markets and banks promote long-run economic growth? This paper shows that stock market liquidity and banking development both positively, predict growth, capital accumulation, and productivity improvements when entered together in regressions, even after controlling for economic and political factors. The results are consistent wit...

The construction of self-dual vortex solutions to the Chern-SimonsHiggs model (with a suitable eighth-order potential) coupled to Einstein gravity in (2 + 1) dimensions is reconsidered. We show that the self-duality condition may be derived from the sole assumption g00 = 1. Next, we derive a family of exact, doubly self-dual vortex solutions, which interpolate between the symmetrical and asymme...

The well-known approximation of the difference between the arithmetic average and geometric average returns as one-half of the variance of the underlying returns is reexamined using Jensen’s Inequality. The ”defect” in Jensen’s Indequality, is given an exlicit formula in terms of the variance following some ideas put forward by Holder. A new form of the AM-GM Inequality follows and is is applie...