Case method teaching immerses students in realistic business situations--which include incomplete information, time constraints, and conflicting goals. The class discussion inherent in case teaching is well known for stimulating the development of students' critical thinking skills, yet instructors often need guidance on managing that class discussion to maximize learning. Teaching with Cases focuses on practical advice for instructors that can be easily implemented. It covers how to plan a course, how to teach it, and how to evaluate it. The book is organized by the three elements required for a great case-based course: 1) advance planning by the instructor, including implementation of a student contract; 2) how to make leading a vibrant case discussion easier and more systematic; and 3) planning for student evaluation after the course is complete. Teaching with Cases is ideal for anyone interested in case teaching, whether basing an entire course on cases, using cases as a supplement, or simply using discussion facilitation techniques. To learn more about the book, and to see resources available, visit teachingwithcases.hbsp.harvard.edu.
Case method teaching immerses students in realistic business situations--which include incomplete information, time constraints, and conflicting goals. The class discussion inherent in case teaching is well known for stimulating the development of students' critical thinking skills, yet instructors often need guidance on managing that class discussion to maximize learning. Teaching with Cases focuses on practical advice for instructors that can be easily implemented. It covers how to plan a course, how to teach it, and how to evaluate it. The book is organized by the three elements required for a great case-based course: 1) advance planning by the instructor, including implementation of a student contract; 2) how to make leading a vibrant case discussion easier and more systematic; and 3) planning for student evaluation after the course is complete. Teaching with Cases is ideal for anyone interested in case teaching, whether basing an entire course on cases, using cases as a supplement, or simply using discussion facilitation techniques. To learn more about the book, and to see resources available, visit teachingwithcases.hbsp.harvard.edu.
How we can achieve healthy growth--more regenerative than destructive, restoring equity rather than exacerbating inequalities. In Tomorrow's Economy, Per Espen Stoknes reframes the hot-button issue of economic growth. Going beyond the usual dialectic of pro-growth versus anti-growth, Stoknes calls for healthy growth. Healthy economic growth is more regenerative than destructive, repairs problems rather than greenwashing them, and restores equity rather than exacerbating global inequalities. Stoknes--a psychologist, economist, climate strategy researcher, and green-tech entrepreneur--argues that we have the tools to achieve healthy growth, but our success depends on transformations in government practices and individual behavior. Stoknes provides a compass to guide us toward the mindset, mechanisms, and possibilities of healthy growth.
This book focuses on the role of the state in promoting a country's long-term technological progress and industrial leadership. Throughout history, a nation's rise to dominance has invariably been followed by its fall; the dominant powers of today are not the same ones that controlled the world three hundred years ago. In the same manner, economic dominance has usually been fleeting, as leading nations have routinely been caught up and surpassed by challengers. This study looks at Schumpeterian growth - currently the most important source of economic growth - which credits the ability to use technological progress for the benefit of industrial leadership as the key motor of national development and economic success. Contrasting the experiences of five great powers (Britain, France, Germany, the USA and Japan) during five periods of technological and industrial leadership, from the Industrial Revolution to the beginning of the twenty-first century, the book draws on historical and comparative methods to draw causal inferences about international progress and leadership. It explores various factors that promote or hinder technological advancement and how these can in turn effect national development. It concludes that where states have forged ahead and maintained a lead over their rivals, it is because consensus and cohesion prevented vested interests from growing powerful enough to block structural economic change. By applying economic theory to long-term historical models, this book offers a fascinating perspective on the causes and effects of national growth and industrial leadership. It will be invaluable reading for anyone with an interest in international relations and global economic trends, both modern and historical.
It is common to study the electric activity of neurons by measuring the electric potential in the extracellular space of the brain. However, interpreting such measurements requires knowledge of the biophysics underlying the electric signals. Written by leading experts in the field, this volume presents the biophysical foundations of the signals as well as results from long-term research into biophysics-based forward-modeling of extracellular brain signals. This includes applications using the open-source simulation tool LFPy, developed and provided by the authors. Starting with the physical theory of electricity in the brain, this book explains how this theory is used to simulate neuronal activity and the resulting extracellular potentials. Example applications of the theory to model representations of real neural systems are included throughout, making this an invaluable resource for students and scientists who wish to understand the brain through analysis of electric brain signals, using biophysics-based modeling.
Eight years after the Arab Spring there is still much debate over the link between Internet technology and protest against authoritarian regimes. While the debate has advanced beyond the simple question of whether the Internet is a tool of liberation or one of surveillance and propaganda, theory and empirical data attesting to the circumstances under which technology benefits autocratic governments versus opposition activists is scarce. In this book, Nils B. Weidmann and Espen Geelmuyden R2d offer a broad theory about why and when digital technology is used for one end or another, drawing on detailed empirical analyses of the relationship between the use of Internet technology and protest in autocracies. By leveraging new sub-national data on political protest and Internet penetration, they present analyses at the level of cities in more than 60 autocratic countries. The book also introduces a new methodology for estimating Internet use, developed in collaboration with computer scientists and drawing on large-scale observations of Internet traffic at the local level. Through this data, the authors analyze political protest as a process that unfolds over time and space, where the effect of Internet technology varies at different stages of protest. They show that violent repression and government institutions affect whether Internet technology empowers autocrats or activists, and that the effect of Internet technology on protest varies across different national environments. "--
The current volume presents four chapters touching on some of the most important and modern areas of research in Mathematical Finance: asset price bubbles (by Philip Protter); energy markets (by Fred Espen Benth); investment under transaction costs (by Paolo Guasoni and Johannes Muhle-Karbe); and numerical methods for solving stochastic equations (by Dan Crisan, K. Manolarakis and C. Nee).The Paris-Princeton Lecture Notes on Mathematical Finance, of which this is the fifth volume, publish cutting-edge research in self-contained, expository articles from renowned specialists. The aim is to produce a series of articles that can serve as an introductory reference source for research in the field.
Drawing on advanced probability theory, Ambit Stochastics is used to model stochastic processes which depend on both time and space. This monograph, the first on the subject, provides a reference for this burgeoning field, complete with the applications that have driven its development. Unique to Ambit Stochastics are ambit sets, which allow the delimitation of space-time to a zone of interest, and ambit fields, which are particularly well-adapted to modelling stochastic volatility or intermittency. These attributes lend themselves notably to applications in the statistical theory of turbulence and financial econometrics. In addition to the theory and applications of Ambit Stochastics, the book also contains new theory on the simulation of ambit fields and a comprehensive stochastic integration theory for Volterra processes in a non-semimartingale context. Written by pioneers in the subject, this book will appeal to researchers and graduate students interested in empirical stochastic modelling.
Interest in Theodor W. Adorno continues to grow in the English-speaking world as the significance of his contribution to philosophy, social and cultural theory, as well as aesthetics is increasingly recognized. Espen Hammer’s lucid book is the first to properly analyze the political implications of his work, paying careful attention to Adorno’s work on key thinkers such as Kant, Hegel and Benjamin. Examining Adorno’s political experiences and assessing his engagement with Marxist as well as liberal theory, Hammer looks at the development of Adorno’s thought as he confronts Fascism and modern mass culture. He then analyzes the political dimension of his philosophical and aesthetic theorizing. By addressing Jürgen Habermas’s influential criticisms, he defends Adorno as a theorist of autonomy, responsibility and democratic plurality. He also discusses Adorno’s relevance to feminist and ecological thinking. As opposed to those who see Adorno as someone who relinquished the political, Hammer’s account shows his reflections to be, on the most fundamental level, politically motivated and deeply engaged. This invigorating exploration of a major political thinker is a useful introduction to his thought as a whole, and will be of interest to scholars and students in the fields of philosophy, sociology, politics and aesthetics.
Derivatives Models on Models takes a theoretical and practical look at some of the latest and most important ideas behind derivatives pricing models. In each chapter the author highlights the latest thinking and trends in the area. A wide range of topics are covered, including valuation methods on stocks paying discrete dividend, Asian options, American barrier options, Complex barrier options, reset options, and electricity derivatives. The book also discusses the latest ideas surrounding finance like the robustness of dynamic delta hedging, option hedging, negative probabilities and space-time finance. The accompanying CD-ROM with additional Excel sheets includes the mathematical models covered in the book. The book also includes interviews with some of the world’s top names in the industry, and an insight into the history behind some of the greatest discoveries in quantitative finance. Interviewees include: Clive Granger, Nobel Prize winner in Economics 2003, on Cointegration Nassim Taleb on Black Swans Stephen Ross on Arbitrage Pricing Theory Emanuel Derman the Wall Street Quant Edward Thorp on Gambling and Trading Peter Carr the Wall Street Wizard of Option Symmetry and Volatility Aaron Brown on Gambling, Poker and Trading David Bates on Crash and Jumps Andrei Khrennikov on Negative Probabilities Elie Ayache on Option Trading and Modeling Peter Jaeckel on Monte Carlo Simulation Alan Lewis on Stochastic Volatility and Jumps Paul Wilmott on Paul Wilmott Knut Aase on Catastrophes and Financial Economics Eduardo Schwartz the Yoga Master of Quantitative Finance Bruno Dupire on Local and Stochastic Volatility Models
The markets for electricity, gas and temperature have distinctive features, which provide the focus for countless studies. For instance, electricity and gas prices may soar several magnitudes above their normal levels within a short time due to imbalances in supply and demand, yielding what is known as spikes in the spot prices. The markets are also largely influenced by seasons, since power demand for heating and cooling varies over the year. The incompleteness of the markets, due to nonstorability of electricity and temperature as well as limited storage capacity of gas, makes spot-forward hedging impossible. Moreover, futures contracts are typically settled over a time period rather than at a fixed date. All these aspects of the markets create new challenges when analyzing price dynamics of spot, futures and other derivatives.This book provides a concise and rigorous treatment on the stochastic modeling of energy markets. Ornstein-Uhlenbeck processes are described as the basic modeling tool for spot price dynamics, where innovations are driven by time-inhomogeneous jump processes. Temperature futures are studied based on a continuous higher-order autoregressive model for the temperature dynamics. The theory presented here pays special attention to the seasonality of volatility and the Samuelson effect. Empirical studies using data from electricity, temperature and gas markets are given to link theory to practice.
The markets for electricity, gas and temperature have distinctive features, which provide the focus for countless studies. For instance, electricity and gas prices may soar several magnitudes above their normal levels within a short time due to imbalances in supply and demand, yielding what is known as spikes in the spot prices. The markets are also largely influenced by seasons, since power demand for heating and cooling varies over the year. The incompleteness of the markets, due to nonstorability of electricity and temperature as well as limited storage capacity of gas, makes spot-forward hedging impossible. Moreover, futures contracts are typically settled over a time period rather than at a fixed date. All these aspects of the markets create new challenges when analyzing price dynamics of spot, futures and other derivatives.This book provides a concise and rigorous treatment on the stochastic modeling of energy markets. Ornstein?Uhlenbeck processes are described as the basic modeling tool for spot price dynamics, where innovations are driven by time-inhomogeneous jump processes. Temperature futures are studied based on a continuous higher-order autoregressive model for the temperature dynamics. The theory presented here pays special attention to the seasonality of volatility and the Samuelson effect. Empirical studies using data from electricity, temperature and gas markets are given to link theory to practice.
The economic operating system keeps crashing. It’s time to upgrade to a new one. Five decades ago, The Limits to Growth shocked the world by showing that population and industrial growth were pushing humanity towards a cliff. Today the world recognizes that we are now at the cliff edge: Earth has crossed multiple planetary boundaries while widespread inequality is causing deep instabilities in societies. There seems to be no way out. Earth For All is both an antidote to despair and a road map to a better future. Using powerful state-of-the-art computer modeling to explore policies likely to deliver the most good for the majority of people, a leading group of scientists and economists from around the world present five extraordinary turnarounds to achieve prosperity for all within planetary limits in a single generation. Coverage includes: Results of new global modeling that indicates falling well-being and rising social tensions heighten risk of regional societal collapses Two alternative scenarios – Too-Little-Too-Late vs The Giant Leap – and what they mean for our collective future Five system-shifting steps that can upend poverty and inequality, lift up marginalized people, and transform our food and energy systems by 2050 A clear pathway to reboot our global economic system so it works for all people and the planet. Written in an open, accessible, and inspirational style using clear language and high impact visuals, Earth For All is a profound vision for uncertain times and a map to a better future. This survival guide for humanity is required reading for everyone concerned about living well on a fragile planet. BOOK AWARDS FINALIST | 2022 Foreword INDIES - Ecology & Environment
Today, about 98 percent of scientists affirm that climate change is human made, and about 2 percent still question it. Despite that overwhelming majority, though, about half the population of rich countries, like ours, choose to believe the 2 percent. And, paradoxically, this large camp of deniers grows even larger as more and more alarming proof of climate change has cropped up over the last decades. This disconnect has both climate scientists and activists scratching their heads, growing anxious, and responding, usually, by repeating more facts to 'win' the argument. But, the more climate facts pile up, the greater the resistance to them grows, and the harder it becomes to enact measures to reduce greenhouse gas emissions and prepare communities for the inevitable change ahead. Is humanity up to the task? It is a catch-22 that starts, says psychologist and climate expert Per Espen Stoknes, from an inadequate understanding of the way most humans think, act, and live in the world around them. With dozens of examples, he shows how to retell the story of climate change and apply communication strategies more fit for the task."--Publisher's description.
The most intense hopes and fears of our collective lives centre around large-scale events – from competitions, celebrations and festivals to environmental disasters, pandemics and terror attacks. The media are a crucial part of this process: they enable the planning, resource allocation and circulation of the vital information needed to mount major events. They are also where traces of events are stored for history. In short, large-scale and collective events have been, and still are, mediated. Starting from nineteenth-century industrialisation, Media and Events in History explains how contemporary life has become saturated with events. It discusses how they have come to involve extensive infrastructures, forms of control and anticipation, attention and participation, contingency and transformation, and articulations of the past and the future. Synthesising and developing insights from history, media studies, philosophy and the social sciences, Ytreberg surveys the rise of event-planning via mediation, and exposes the historical driving forces behind ‘media events’, global ‘mega-events’ and ‘pseudo-events’. Revealing the importance of events in history, this eye-opening book will be of interest to students of media studies, history, historical sociology and cultural history, as well as the general reader.
A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume two, "Bidding Strategies, Financing, and Corporate Control", focus on a range of special topics, ranging from theories and evidence on strategic bidding behavior (offer premiums, toeholds, bidder competition, winner’s curse adjustments, and managerial overconfidence), issues arising when bidding for targets in bankruptcy auctions, effects of deal protection devices (termination agreements, poison pills), role of large shareholder voting in promoting takeover gains, deal financing issues (such as raising the cash used to pay for the target), managerial incentive effects of takeovers, governance spillovers from cross-border mergers, and returns to merger arbitrage. Including an index and new introduction, this volume will simplify and facilitate students’ interaction with new concepts and applications. Provides a status report about modern scientific evidence on corporate takeovers Exposes students to new methods and empirical evidence while reading high quality primary material Offers a concise and cost-efficient package of journal and book articles for advanced corporate finance students
SCM Veritas engages in critical and original questions of pressing concern to both philosophers and theologians. The major concern of all books in this series is to display a rigorous theological critique of categories not often thought to be theological in character, such as phenomenology or metaphysics which are mainly considered as philosophical categories. All the books in this series aim to illustrate that without theology, something essential is lost in our accounts of such categories not only in the abstract but in the way in which we inhabit the world. Phenomenology and the Holy is a study of the holy which attempts to find this both in the ordinary and in the sublime, thus challenging the reduction of the holy to a discrete and separated field of experience. Phenomenology is a key area of twentieth-century philosophy in which there is a wide interest, not only among philosophers but also among theologians and religious studies scholars.
A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume one, Takeover Activity, Valuation Estimates and Merger Gains, focus on classical issues such as the existence and source of merger waves, empirical estimates of takeover announcement returns and the division of takeover gains between bidders and targets, and tests for potential sources of takeover gains (primarily involving estimation of industry wealth effects of takeovers), introducing students to modern scientific evidence about corporate takeovers. Including an index and new introduction, this volume will simplify and facilitate students’ interaction with new concepts and applications. Provides a status report about modern scientific evidence on corporate takeovers Exposes students to new methods and empirical evidence while reading high quality primary material Offers a concise and cost-efficient package of journal and book articles for advanced corporate finance students
Renewable energy is rising within an energy system dominated by powerful vested energy interests in fossil fuels, nuclear and electric utilities. Analyzing renewables in six very different countries, the author argues that it is the extent to which states have controlled these vested interests that determines the success or failure of renewables.
When pricing options in todayÕs fast-action markets, you need quick access to precise facts and market-tested information. The Complete Guide to Options Pricing Formulas is the only authoritative, comprehensive reference to make the necessary set of option pricing tools available in one place. This invaluable reference work, which includes valuable software and ready-to-use programming code to enhance your understanding of the options pricing models discussed and their practical implementations, also gives you a complete listing of key options formulas, all in a dictionary format for ease of use; commentary from derivatives expert and author Espen Gaarder Haug that explains key points in the most important and useful formulas; practitioner-oriented formulas, and highlights of the latest options pricing research from major institutions worldwide; and much more! Invaluable for both experienced users and those learning how to use the tools of valuation, The Complete Guide to Options Pricing Formulas is the first and only book to place all of the research and information you need at your fingertips with precise directions on maximizing its real-world value.
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