Issue 2 (June)

Vol. 2 (2023), EAL

8 articles

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Open Access Journal Article
Aggregate Investor Sentiment and Time-Varying Price Discovery: Evidence from the Options Market
by Yaping Zhou  and  Dayong Lv
EAL  2023 2(2):19; 10.58567/eal02020001 - 13 May 2023
Abstract
Previous literature shows that the price-discovery ability of options market varies substantially over time. Using data of Shanghai Stock Exchange 50 exchange-traded fund options, this paper shows that options prices contribute relatively less to price discovery during low-sentiment periods, but the price-discovery ability of options market remains unchanged during high-sentime [...] Read more

Open Access Journal Article
Regime Change Operation in Pakistan: Examining Yield as a Behavioral Pattern of Microblogging rumors during the Political-Obsessed Period
by Jawad Saleemi
EAL  2023 2(2):20; 10.58567/eal02020002 - 14 May 2023
Abstract
In the behavioral domain, this study discloses the pattern between microblogging-opinionated information and yields on the investment. This phenomenon is particularly related to the political instability in the Pakistan’s economy through the multivariate techniques. Pre-political crisis, the pessimistic sentiments were priced in yields on the investment. In environments o [...] Read more
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Open Access Journal Article
An Examination of Ramsey's Critique: The Lack of Support in Dismissing Keynes's Logical Theory of Probability
by Michael Emmett Brady
EAL  2023 2(2):21; 10.58567/eal02020003 - 15 May 2023
Abstract
In his 1922 review for Cambridge Magazine of Keynes's A Treatise on Probability, and again in his 1926 review "Truth and Probability" (published in 1931 and republished in Kyburg and Smokler's 1980 edition), Ramsey provided examples critiquing Keynes's logical theory of probability. However, these examples do not disprove Keynes's theory as all of them are flawed. The flaws ari [...] Read more

Open Access Journal Article
Asymmetric efficiency of cryptocurrencies during the 2020 and 2022 events
by Mariana Chambino , Rui Manuel Teixeira Dias  and  Nicole Rebolo Horta
EAL  2023 2(2):22; 10.58567/eal02020004 - 21 May 2023
Abstract
In this study, we examined the efficiency of cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), DASH, EOS, and MONERO from March 1, 2018, to March 1, 2023. We separated the sample into four subperiods for this purpose: a Tranquil period that includes the period from March 1, 2018, to December 31, 2019; a First Wave that includes the year 2020; a Secon [...] Read more
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Open Access Journal Article
Don’t worry about the debt-GDP Ratio
by Yasuhito Tanaka
EAL  2023 2(2):24; 10.58567/eal02020006 - 21 May 2023
Abstract
I will show that if the propensity to consume from savings satisfies appropriate conditions, the debt-GDP ratio will not grow infinitely large and fiscal collapse will not occur. Using a basic macroeconomic model, with an overlapping generations model in mind, we show the following results: 1) The budget deficit including interest payments on the government bonds equals an incr [...] Read more

Open Access Journal Article
Psychopathy, prospect theory, and the Madoff Curve: a dual behavioral neuroscience and behavioral economic framework for understanding White Collar Crime
by Eric C. Prichard  and  Adam J. McKee
EAL  2023 2(2):23; 10.58567/eal02020005 - 23 May 2023
Abstract
Reckless behavior by business leaders can be a systemic risk for individual firms and the economies in which the firms exist. We propose that a synthesis of behavioral economics, in particular prospect theory, and the study of psychopathy may help researchers better understand why some business leaders engage in high-risk criminal activity. We propose that psychopathy is associ [...] Read more
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Open Access Journal Article
Artificial Intelligence Techniques in Economic Analysis
by Robertas Damasevicius
EAL  2023 2(2):25; 10.58567/eal02020007 - 23 May 2023
Abstract
This paper provides an overview of the existing literature on the use of artificial intelligence (AI) in various fields, including economics, finance, mining, manufacturing, and innovation. The paper identifies the drivers and effects of AI deployment in the context of innovation and highlights the challenges and opportunities that arise from the use of AI. The studies reviewed [...] Read more

Open Access Journal Article
Informality as a Driving Force for Corruption in Economy: A Neoclassical Simulation
by Emerson Abraham Jackson
EAL  2023 2(2):26; 10.58567/eal02020008 - 30 May 2023
Abstract
This paper examines the link between informality and corruption, two interlinked phenomena that have negative impacts on economic development. The paper presents a neoclassical model simulation that illustrates how informality can drive corruption in the economy, emphasizing the incentives for corruption in an economy with informal and formal sectors. The model provides insight [...] Read more
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