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Uncovering the drivers behind urban economic complexity and their connection to urban economic performance. (arXiv:1812.02842v1 [physics.soc-ph])

December 9, 2018 by Quantitative Finance at arXiv   Comments (0)

The distribution of employment across industries determines the economic
profiles of cities. But what drives the distribution of employment? We study a
simple model for the probability that an individual in a city is employed in a
given urban activity. The theory posits that three quantities drive this
probability: the activity-specific complexity, individual-specific knowhow, and
the city-specific collective knowhow. We use data on employment across
industries and metropolitan statistical...

Optimal Investment, Demand and Arbitrage under Price Impact. (arXiv:1804.09151v2 [q-fin.MF] UPDATED)

December 9, 2018 by Quantitative Finance at arXiv   Comments (0)

This paper studies the optimal investment problem with random endowment in an
inventory-based price impact model with competitive market makers. Our goal is
to analyze how price impact affects optimal policies, as well as both pricing
rules and demand schedules for contingent claims. For exponential market makers
preferences, we establish two effects due to price impact: constrained trading,
and non-linear hedging costs. To the former, wealth processes in the impact
model are identified with...

Stability of democracies: a complex systems perspective

December 9, 2018 by Complexity Digest   Comments (0)

The idea that democracy is under threat, after being largely dormant for at least 40 years, is looming increasingly large in public discourse. Complex systems theory offers a range of powerful new tools to analyse the stability of social institutions in general, and democracy in particular. What makes a democracy stable? And which processes potentially lead to instability of a democratic system? This paper offers a complex systems perspective on this question, informed by areas of the...

Consciousness: The last 50 years (and the next)

December 8, 2018 by Complexity Digest   Comments (0)

The mind and brain sciences began with consciousness as a central concern. But for much of the 20th century, ideological and methodological concerns relegated its empirical study to the margins. Since the 1990s, studying consciousness has regained a legitimacy and momentum befitting its status as the primary feature of our mental lives. Nowadays, consciousness science encompasses a rich interdisciplinary mixture drawing together philosophical, theoretical, computational, experimental, and...

This Week on TRB

December 8, 2018 by The Reformed Broker   Comments (0)

These were the most read posts on the site this week, in case you missed it: ...

Clips From Today’s Halftime Report

December 7, 2018 by The Reformed Broker   Comments (0)

 Trade agreement uncertainty accelerates stock slides from CNBC. Apple shares fall after price target slash from CNBC. Is Netflix heading to $400? What’s going on with biotech stocks? The desk takes YOUR questions from CNBC. Final Trades: Broadcom, Diamondback, JPMorgan, Store Capital & Alaska Air from CNBC....

Conference on Complex Systems 2019

December 7, 2018 by Complexity Digest   Comments (0)

The Conference on Complex Systems (CCS) is the biggest and most important annual meeting of the international complex systems community. It comes under the auspices of the Complex Systems Society. Since its inception in 2004, CCS had always been Europe-based, but in 2015 & 2017, it moved to North & Latin America respectively. In 2019, CCS will come to Asia for the first time. Held in Singapore at Nanyang Technological University, it promises an intellectually stimulating experience to...

Is there a signal in the noise? Yield Curves, Economic Growth and Stock Prices!

December 7, 2018 by Musings on Markets   Comments (0)

The title of this post is not original and draws from Nate Silver's book on why so many predictions in politics, sports and economics fail. It reflects the skepticism with which I view many 'can't fail" predictors of economic growth or stock markets, since they tend to have horrendous track records. Over the last few weeks, as markets have gyrated, market commentators have been hard pressed to explain day-to-day swings, but that has not stopped them from trying. The explanations have shifted...

Beyond Calories: A Holistic Assessment of the Global Food System

December 7, 2018 by Complexity Digest   Comments (0)

The global food system is failing to meet nutritional needs, with growing concerns for health related to both under-, over-consumption and severe micronutrient deficiency. The 2nd Sustainable Development Goal (SDG2) targets the end of malnutrition in all forms by 2030. To address this challenge, the focus around food security and malnutrition must be broadened beyond the scope of sufficient energy intake to take full account of total nutrient supply and requirements. Here, for the first time,...