The financial market in a transitional economy: Investment strategies, structural organization, international prospects
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The monograph develops an approach to the financial market and to the behavioral strategy of a rational investor as complex information systems. The book includes four chapters. In the first chapter, the author shows that in some cases the dynamics of the informationally ineffective market can be explained by the cognitive dissonance of investors minimizing the entropy of their portfolios, which are considered as multidimensional stochastic processes. The second chapter proposes a criterion for forecasting the stability of the portfolio investment market and the results of Monte Carlo simulations for the processes of “herd behavior” of investors depending on the information transparency of the market are given. In the third chapter, the behavior of rational investors is analyzed from the standpoint of the theory of gambling with a zero actual amount and from this point of view shows why a very attractive young financial market can experience periods of sharp collapses. The fourth head of the monograph is devoted to the study of information prerequisites for international currency financial integration.
The author demonstrates that a working international financial mechanism is possible only if the amount of information contained in the financial system (entropy) will exceed a certain critical value.
The book is based on rich statistical material, the author justifies his conclusions with calculations on the basis of empirical data.
For scientists, teachers, graduate students and students specializing in the theory of finance, as well as for those who are interested in macroeconomic problems of financial analysts
The author demonstrates that a working international financial mechanism is possible only if the amount of information contained in the financial system (entropy) will exceed a certain critical value.
The book is based on rich statistical material, the author justifies his conclusions with calculations on the basis of empirical data.
For scientists, teachers, graduate students and students specializing in the theory of finance, as well as for those who are interested in macroeconomic problems of financial analysts
Author:
Author:Евстигнеев В.Р.
Cover:
Cover:Hard
Category:
- Category:Business & Money
Publication language:
Publication Language:Russian
Paper:
Paper:Offset
Age restrictions:
Age restrictions:16+
ISBN:
ISBN:978-5-9710-5553-2
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