Ser-Huang Poon and Richard Stapleton
- Published in print:
- 2005
- Published Online:
- July 2005
- ISBN:
- 9780199271443
- eISBN:
- 9780191602559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199271445.003.0005
- Subject:
- Economics and Finance, Financial Economics
‘Multi-period Asset Pricing’ expands the analysis of asset prices to a multi-period economy, where an investor has to make consumption decisions in each period which may lead to consumption and ...
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‘Multi-period Asset Pricing’ expands the analysis of asset prices to a multi-period economy, where an investor has to make consumption decisions in each period which may lead to consumption and wealth being different in the interim periods. The authors consider two distinct approaches to multi-period valuation; the time-state preference approach, where consumptions at different times and in different states were treated as separate assets, and the rational expectations approach that derives a period-by-period equilibrium in which investors form expectations of the price of securities. Here, they value assets relative to the value of bonds. While risk-free interest rate is given exogenously, the prices of these bonds at future points in time can be stochastic.Less
‘Multi-period Asset Pricing’ expands the analysis of asset prices to a multi-period economy, where an investor has to make consumption decisions in each period which may lead to consumption and wealth being different in the interim periods. The authors consider two distinct approaches to multi-period valuation; the time-state preference approach, where consumptions at different times and in different states were treated as separate assets, and the rational expectations approach that derives a period-by-period equilibrium in which investors form expectations of the price of securities. Here, they value assets relative to the value of bonds. While risk-free interest rate is given exogenously, the prices of these bonds at future points in time can be stochastic.
Wai-Tat Fu
- Published in print:
- 2007
- Published Online:
- March 2012
- ISBN:
- 9780195189193
- eISBN:
- 9780199847457
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195189193.003.0012
- Subject:
- Psychology, Cognitive Models and Architectures
This chapter describes a rational-ecological approach to derive the processes underlying the balance between exploration and exploitation of actions as an organism adapts to a new environment. The ...
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This chapter describes a rational-ecological approach to derive the processes underlying the balance between exploration and exploitation of actions as an organism adapts to a new environment. The approach uses a two-step procedure: the general environment is first analyzed to identify its invariant properties; then a set of adaptive mechanisms are proposed that exploit these invariant properties. The underlying assumption of the approach is that cognitive algorithms are adapted to the invariant properties of the general environment. The current proposal is that suboptimal performance can be often explained by the interaction of the cognitive algorithms, information samples, and the specific properties of the new environment so that the obtained samples of the environment may provide a biased representational input to the cognitive algorithms. The current approach is applied to analyze behavior in two information-seeking tasks. It is shown that suboptimal performance is often an emergent property of the dynamic interactions between cognition, information samples, and the characteristics of the environment.Less
This chapter describes a rational-ecological approach to derive the processes underlying the balance between exploration and exploitation of actions as an organism adapts to a new environment. The approach uses a two-step procedure: the general environment is first analyzed to identify its invariant properties; then a set of adaptive mechanisms are proposed that exploit these invariant properties. The underlying assumption of the approach is that cognitive algorithms are adapted to the invariant properties of the general environment. The current proposal is that suboptimal performance can be often explained by the interaction of the cognitive algorithms, information samples, and the specific properties of the new environment so that the obtained samples of the environment may provide a biased representational input to the cognitive algorithms. The current approach is applied to analyze behavior in two information-seeking tasks. It is shown that suboptimal performance is often an emergent property of the dynamic interactions between cognition, information samples, and the characteristics of the environment.
Patrick Brown and Michael Calnan
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9781847428899
- eISBN:
- 9781447307556
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781847428899.003.0004
- Subject:
- Sociology, Health, Illness, and Medicine
Chapter Three tackles some of the tensions alluded to earlier in the book between conceptions of trust as a more or less ‘rational’ form of behaviour. A range of arguments that consider trust as more ...
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Chapter Three tackles some of the tensions alluded to earlier in the book between conceptions of trust as a more or less ‘rational’ form of behaviour. A range of arguments that consider trust as more or less calculative, cognitive and emotional, and conscious and less-than-conscious, are considered in the light of our own findings. Moreover we seek to demonstrate how many of these dualisms that exist within trust research may be overcome. Drawing in particular on the theoretical work of Barbalet and the philosophy of Gray, a number of critiques of overly narrow ‘rational-actor’ conceptualisations of trust are put forward in emphasising the broader rationality of trust and mistrust in overcoming vulnerability in the midst of uncertainty.Less
Chapter Three tackles some of the tensions alluded to earlier in the book between conceptions of trust as a more or less ‘rational’ form of behaviour. A range of arguments that consider trust as more or less calculative, cognitive and emotional, and conscious and less-than-conscious, are considered in the light of our own findings. Moreover we seek to demonstrate how many of these dualisms that exist within trust research may be overcome. Drawing in particular on the theoretical work of Barbalet and the philosophy of Gray, a number of critiques of overly narrow ‘rational-actor’ conceptualisations of trust are put forward in emphasising the broader rationality of trust and mistrust in overcoming vulnerability in the midst of uncertainty.
Stephanie Y. Evans
- Published in print:
- 2008
- Published Online:
- September 2011
- ISBN:
- 9780813032689
- eISBN:
- 9780813039299
- Item type:
- chapter
- Publisher:
- University Press of Florida
- DOI:
- 10.5744/florida/9780813032689.003.0008
- Subject:
- History, African-American History
This chapter focuses on research, which is one of the cores of higher education that raises questions of interest on scholarly agenda, curricular focus, pedagogical practice, and responsibilities to ...
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This chapter focuses on research, which is one of the cores of higher education that raises questions of interest on scholarly agenda, curricular focus, pedagogical practice, and responsibilities to communities. This chapter focuses on the contributions of Cooper and Bethune on the definition and modification of research. Although both exhibited parallelism in their ideas of research, knowledge creation, and meaning because of their cultural identities, both also illustrated nuances that separated one from the other. This chapter discusses Cooper's rational approach to research, wherein she argues the logic of faith in God and Bethune's metaphysical research approach, and she claims to have visions and powers from her ancestors.Less
This chapter focuses on research, which is one of the cores of higher education that raises questions of interest on scholarly agenda, curricular focus, pedagogical practice, and responsibilities to communities. This chapter focuses on the contributions of Cooper and Bethune on the definition and modification of research. Although both exhibited parallelism in their ideas of research, knowledge creation, and meaning because of their cultural identities, both also illustrated nuances that separated one from the other. This chapter discusses Cooper's rational approach to research, wherein she argues the logic of faith in God and Bethune's metaphysical research approach, and she claims to have visions and powers from her ancestors.
Xu Yi-chong and Patrick Weller
- Published in print:
- 2018
- Published Online:
- November 2017
- ISBN:
- 9780198719496
- eISBN:
- 9780191788598
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198719496.003.0001
- Subject:
- Political Science, Comparative Politics, International Relations and Politics
This chapter surveys the existing approaches to studying IOs, and discusses our public policy approach. It describes IOs as institutions that are defined by formal and informal rules, by practices ...
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This chapter surveys the existing approaches to studying IOs, and discusses our public policy approach. It describes IOs as institutions that are defined by formal and informal rules, by practices and sets of expectations that shape the way those involved in IOs’ activities work. Rather than accepting the traditional proposition that member states decide, the chapter argues that we need to go inside the organization to examine how all the actors perceive their roles, interpret their responsibilities, and interact with each other. It identifies three groups of actors—state representatives, heads of IOs, and secretariats—and discusses their strength, advantages, and levers in IO operations. It particularly highlights the impact of organizational structure, history, and culture on actors’ behaviour and examines their powers of persuasion in a comparative study across six IOs.Less
This chapter surveys the existing approaches to studying IOs, and discusses our public policy approach. It describes IOs as institutions that are defined by formal and informal rules, by practices and sets of expectations that shape the way those involved in IOs’ activities work. Rather than accepting the traditional proposition that member states decide, the chapter argues that we need to go inside the organization to examine how all the actors perceive their roles, interpret their responsibilities, and interact with each other. It identifies three groups of actors—state representatives, heads of IOs, and secretariats—and discusses their strength, advantages, and levers in IO operations. It particularly highlights the impact of organizational structure, history, and culture on actors’ behaviour and examines their powers of persuasion in a comparative study across six IOs.
