7 citations · 14 across the 3 of their papers we have counts for
6 papers
Discounting the distant future: What do historical bond prices imply about the long term discount rate?
J. Doyne Farmer, John Geanakoplos, Matteo G. Richiardi +3
We present a thorough empirical study on real interest rates by also including risk aversion through the introduction of the market price of risk. With the view of complex systems…
Statistical analysis and stochastic interest rate modelling for valuing the future with implications in climate change mitigation
Josep Perelló, Miquel Montero, Jaume Masoliver +2
High future discounting rates favor inaction on present expending while lower rates advise for a more immediate political action. A possible approach to this key issue in global ec…
Uncertain growth and the value of the future
Jaume Masoliver, Miquel Montero, Josep Perelló +2
For environmental problems such as global warming future costs must be balanced against present costs. This is traditionally done using an exponential function with a constant disc…
Leverage-induced systemic risk under Basle II and other credit risk policies
Sebastian Poledna, Stefan Thurner, J. Doyne Farmer +1
We use a simple agent based model of value investors in financial markets to test three credit regulation policies. The first is the unregulated case, which only imposes limits on…
Leverage Causes Fat Tails and Clustered Volatility
Stefan Thurner, J. Doyne Farmer, John Geanakoplos
We build a simple model of leveraged asset purchases with margin calls. Investment funds use what is perhaps the most basic financial strategy, called "value investing", i.e. syste…
The virtues and vices of equilibrium and the future of financial economics
J. Doyne Farmer, John Geanakoplos
The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human reasoning into account. This approach has been the…