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Pages
- Title
- American lookback options: Early exercise.
- Creator
- Abramov, Viatcheslav Alexander., Florida Atlantic University, Yuhn, Ky-hyang, College of Business, Department of Economics
- Abstract/Description
-
Lookback options are path dependent contingent claims whose payoff depend on the extrema of a given security's price over a given period. Some of these options are already traded on specialized markets (such as foreign exchange) and mostly in over-the-counter market alongside with other path dependent options (knock-ins, knock-outs, etc.). This thesis examines the existing pricing models of conventional options as well as standard European lookback options and provides some results about...
Show moreLookback options are path dependent contingent claims whose payoff depend on the extrema of a given security's price over a given period. Some of these options are already traded on specialized markets (such as foreign exchange) and mostly in over-the-counter market alongside with other path dependent options (knock-ins, knock-outs, etc.). This thesis examines the existing pricing models of conventional options as well as standard European lookback options and provides some results about early exercise of their American counterparts with the use of notions from the theory of optimal stopping.
Show less - Date Issued
- 1995
- PURL
- http://purl.flvc.org/fcla/dt/15177
- Subject Headings
- Options (Finance), Derivative securities
- Format
- Document (PDF)
- Title
- ECONOMIC DETERMINANTS OF URBAN CRIME RATES.
- Creator
- FRASER, RUSSELL EDWARD., Florida Atlantic University, McPheters, Lee R., College of Business, Department of Economics
- Abstract/Description
-
This study explains variation in urban crime incidence as a function of a number of socio-economic variables, including income, education, and urban blight. Ordinary least squares regression analysis is applied to cross-section data from the 60 largest Standard Metropolitan Statistical Areas, for 19 70. Various extensions of the basic model are presented, using log variables, a lagged endogenous variable, and indices derived from factor analysis of a large matrix of socio-economic variables.
- Date Issued
- 1972
- PURL
- http://purl.flvc.org/fcla/dt/13533
- Subject Headings
- Crime--United States, Criminals--United States
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF MARTIN COUNTY, 1959-1970.
- Creator
- JOCHEM, DAGNEY SERVIN., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This Thesis examines the components of the economic base of Martin County. A model is then constructed to reflect the nature of the county's economic base. Stability and multiplier analysis are applied to the model, followed by short run forecasts under various assumptions.
- Date Issued
- 1973
- PURL
- http://purl.flvc.org/fcla/dt/13563
- Subject Headings
- Martin County (Fla)--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF FLORIDA'S GOLD COAST.
- Creator
- BUCCA, JANE KIRKER., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis deals with regional econometric models. The first chapter discusses static economic modeling. Chapter Two deals with models of substate regional economics. The third chapter presents an econometric model of Florida's Gold Coast including dynamic analysis of short and long run adjustment.
- Date Issued
- 1981
- PURL
- http://purl.flvc.org/fcla/dt/14049
- Subject Headings
- Economics--Florida--Mathematical models, Florida--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- AN ECONOMETRIC MODEL OF PALM BEACH COUNTY, FLORIDA.
- Creator
- HILTON, JOHN DAVID., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
The purpose of this thesis is to estimate an econometric model of Palm Beach County, Florida. An econometric model was chosen as the appropriate method for study as the said county is characteristic of a service based final demand economy. An underlying objective was to utilize data on income and employment variables available on a consistent bases from a Regional Economic Information System Data computer tape provided by the u.s. Department of Commerce 1983. These data distinguished among 11...
Show moreThe purpose of this thesis is to estimate an econometric model of Palm Beach County, Florida. An econometric model was chosen as the appropriate method for study as the said county is characteristic of a service based final demand economy. An underlying objective was to utilize data on income and employment variables available on a consistent bases from a Regional Economic Information System Data computer tape provided by the u.s. Department of Commerce 1983. These data distinguished among 11 industries and referred to the years 1967-1983. In conclusion the model shows that ordinary least squares estimation results were generally significant in the signas and goodness of fit. However evidence of positive serial correlation of the disturbances was detected and the results did not change substantially after applying the Cocran-Orcutt procedure.
Show less - Date Issued
- 1984
- PURL
- http://purl.flvc.org/fcla/dt/14197
- Subject Headings
- Palm Beach County (Fla)--Economic conditions--Mathematical models
- Format
- Document (PDF)
- Title
- THE EFFICIENT MARKETS HYPOTHESIS AS IT APPLIES TO SECURITIES.
- Creator
- MCCARTHY, JOSEPH MICHAEL., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis deals with the efficient markets hypothesis as it applies to the securities market. The first chapter provides the various forms of the EMH and its theoretical basis. Chapter two analyzes the weak form of the EMH and the major empirical contributions concerning it. Chapter three presents the strong forms of the EMH. It is concluded on the basis of a substantial and consistent body of analysis that efficient is an accurate description of the securities market.
- Date Issued
- 1980
- PURL
- http://purl.flvc.org/fcla/dt/14035
- Subject Headings
- Investment analysis
- Format
- Document (PDF)
- Title
- Economic transition, the case of China.
- Creator
- Lin, Min., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis is a study of China's economic transition from the traditional Soviet type socialist command economy which existed before 1978 to a market economy which China wants to achieve. Historical comparisons are applied to see the difference between early economic development and present reform efforts in China. The problems that China has encountered during the transition period also are presented and analysis are given.
- Date Issued
- 1995
- PURL
- http://purl.flvc.org/fcla/dt/15172
- Subject Headings
- China--Economic policy--1976-, Capitalism--China, China--Economic conditions
- Format
- Document (PDF)
- Title
- Econometric models of individual house prices.
- Creator
- Schuler, Frederick Gerard., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house...
Show moreThis thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house characteristics are considered. Chapter IV uses econometric models to analyze tax assessment bias and to test the efficiency of the housing market. Chapter V is a summary of the conclusions and recommendations generated by this analysis.
Show less - Date Issued
- 1989
- PURL
- http://purl.flvc.org/fcla/dt/14522
- Subject Headings
- House buying--Florida, Real property--Florida--Econometric models
- Format
- Document (PDF)
- Title
- EXAMINATION OF PORTFOLIO PERFORMANCE USING DIFFERENT TRADING RULES.
- Creator
- HENNIGS, GABRIEL PEREZ., Florida Atlantic University, Redman, Milton, College of Business, Department of Economics
- Abstract/Description
-
This thesis uses a fundamentalist approach to portfolio selection similar to that proposed by Benjamin Graham. The purpose is to examine the existence of undervalued securities and to test a methodology designed to identify those that could be considered superior investments. The model designed to select, combine and evaluate performance on risk adjusted basis takes into consideration fundamental principles of modern portfolio theory. Specifically, this analysis evaluates the informational...
Show moreThis thesis uses a fundamentalist approach to portfolio selection similar to that proposed by Benjamin Graham. The purpose is to examine the existence of undervalued securities and to test a methodology designed to identify those that could be considered superior investments. The model designed to select, combine and evaluate performance on risk adjusted basis takes into consideration fundamental principles of modern portfolio theory. Specifically, this analysis evaluates the informational contribution of price earnings ratios, earnings growth and dividend payments. The hypothesis tested is that undervalued securities selected under the conditions here proposed can produce performance results consistently superior than those of a strategy based on passively holding a market portfolio.
Show less - Date Issued
- 1984
- PURL
- http://purl.flvc.org/fcla/dt/14228
- Subject Headings
- Portfolio management, Investment analysis
- Format
- Document (PDF)
- Title
- DISTRIBUTED LAG MODELS.
- Creator
- KEMMSIES, WALTER HAMILTON., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis presents various formulations of finite distributed lag models. The objective is to demonstrate how prior restrictions may be imposed on econometric models in order to estimate the lag distributions. Four formulations are thus reviewed, namely, the arithmetic lag model, the inverted-V lag model, the Almon polynomial, and the cubic spline lag model. For the latter formulations, the interpolation methods are reviewed. In addition, four models of consumption are estimated under the...
Show moreThis thesis presents various formulations of finite distributed lag models. The objective is to demonstrate how prior restrictions may be imposed on econometric models in order to estimate the lag distributions. Four formulations are thus reviewed, namely, the arithmetic lag model, the inverted-V lag model, the Almon polynomial, and the cubic spline lag model. For the latter formulations, the interpolation methods are reviewed. In addition, four models of consumption are estimated under the various lag models, for different lag lengths and orders of polynomials, in order to demonstrate the properties of each formulation. In the discussion of the results, certain inferences are made about the consumption functions.
Show less - Date Issued
- 1983
- PURL
- http://purl.flvc.org/fcla/dt/14171
- Subject Headings
- Distributed lags (Economics)
- Format
- Document (PDF)
- Title
- Duration and the prices of common stocks.
- Creator
- Konnan, Yehuda A., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
In finance, the term 'duration' means the effective length of a financial obligation which is discharged in installments. This concept has a number of applications in finance like calculating the change in the price of bonds due to the change in interest rates, immunizing the value of bonds, etc. Common stocks are also financial obligations and are considered to have durations. For bonds and similar strong contractual obligations, duration and its applications are clear cut and are used...
Show moreIn finance, the term 'duration' means the effective length of a financial obligation which is discharged in installments. This concept has a number of applications in finance like calculating the change in the price of bonds due to the change in interest rates, immunizing the value of bonds, etc. Common stocks are also financial obligations and are considered to have durations. For bonds and similar strong contractual obligations, duration and its applications are clear cut and are used widely. For common stocks duration evaluation is difficult and its practical applications hardly exist. Moreover, there are no publications of numerical results where duration was applied to common stocks. These facts make it doubtful whether duration can be applied to common stocks. The results of the empirical research here, with numerical results, make it doubtful that duration can be applied to common stocks or to explain price fluctuations of common stocks.
Show less - Date Issued
- 1997
- PURL
- http://purl.flvc.org/fcla/dt/15368
- Subject Headings
- Investments--Mathematics, Stocks--Prices, Interest rates
- Format
- Document (PDF)
- Title
- THE ECONOMIC DEVELOPMENT OF SOUTH FLORIDA.
- Creator
- JUSTEN, MICHAEL E., Florida Atlantic University, Scheidell, John M., College of Business, Department of Economics
- Abstract/Description
-
The objective of this thesis is to determine the extent to which the growth patterns of South Florida can be described in terms of the stages-of-growth and center- periphery growth hypotheses. To this end a survey of the relevant economic literature is provided , along with a demographic and economic history of South Florida and Florida. Also a brief economic history of the United States, Italy and South Italy is given as an example of the growth hypothesis.
- Date Issued
- 1972
- PURL
- http://purl.flvc.org/fcla/dt/13534
- Subject Headings
- Florida--Economic conditions
- Format
- Document (PDF)
- Title
- ECONOMIC IMPACT ANALYSIS OF THE AREA OF CRITICAL STATE CONCERN DESIGNATION ON THE FLORIDA KEYS.
- Creator
- YORK, MARIE LANGE., Florida Atlantic University, Nicholas, James C., College of Business, Department of Economics
- Abstract/Description
-
The state of Florida recognized that the negative effects of development in the Florida Keys were extending beyond the local area and affecting the broader interests of the state itself. In an attempt to regulate growth and its effects, the state, in 1975, designated the archipelago off its southern coast an Area of Critical State Concern. Besides the environmental changes, this designation and its accompanying land use regulations have t he potential to create economic impacts. This thesis...
Show moreThe state of Florida recognized that the negative effects of development in the Florida Keys were extending beyond the local area and affecting the broader interests of the state itself. In an attempt to regulate growth and its effects, the state, in 1975, designated the archipelago off its southern coast an Area of Critical State Concern. Besides the environmental changes, this designation and its accompanying land use regulations have t he potential to create economic impacts. This thesis analyzes the Keys' economy and determines if the critical area designation impacted the local economy.
Show less - Date Issued
- 1982
- PURL
- http://purl.flvc.org/fcla/dt/14138
- Subject Headings
- Land use--Law and legislation--Florida--Florida Keys, Florida Keys (Fla), Monroe County (Fla)--Economic conditions, Charlotte County (Fla)--Economic conditions
- Format
- Document (PDF)
- Title
- ECONOMICS OF PRESERVATION: MIAMI BEACH AND PALM BEACH.
- Creator
- COSTOMIRIS, JOYCE., Florida Atlantic University, Nicholas, James C., College of Business, Department of Economics
- Abstract/Description
-
This thesis extends the analysis of the economic benefits of historic preservation from the individual property owner to the entire community. Analyses are made of Miami Beach, Florida - once a wealthy resort community - and Palm Beach, Florida - which has maintained its status as a wealthy resort community. By comparing Miami B~ch results with Palm Beach results, the analyses determine whether Miami Beach's preservation decisions, which pertained to its character and residential nature, have...
Show moreThis thesis extends the analysis of the economic benefits of historic preservation from the individual property owner to the entire community. Analyses are made of Miami Beach, Florida - once a wealthy resort community - and Palm Beach, Florida - which has maintained its status as a wealthy resort community. By comparing Miami B~ch results with Palm Beach results, the analyses determine whether Miami Beach's preservation decisions, which pertained to its character and residential nature, have resulted in an adverse impact on its economic vitality. The type of analysis used is a time series analysis. Time series analyses of each community's individual tax base are conducted to determine whether age has had a positive or negative impact on the community. The analyses showed that in Miami Beach, as time passed, the tax base declined; yet in Palm Beach, as time passed, the tax base improved. Given the analyses, together with the history of the communities, it is concluded that massive reinvestment in new buildings did not result in an enhanced economic vitality in Miami Beach.
Show less - Date Issued
- 1983
- PURL
- http://purl.flvc.org/fcla/dt/14159
- Subject Headings
- Palm Beach (Fla)--Buildings, structures, etc--Conservation and restoration, Miami Beach (Fla)--Buildings, structures, etc--Conservation and restoration
- Format
- Document (PDF)
- Title
- ECONOMIC IMPLICATIONS OF GOVERNMENT DEBT AND DEFICITS: DEBT NEUTRALITY OR CROWDING OUT?.
- Creator
- BROSNAHAN, GARY W., Florida Atlantic University, Manage, Neela D., College of Business, Department of Economics
- Abstract/Description
-
The economic implications of federal government debt and deficits have been the source of much debate in the past, and will continue to be for many years to come. Economists are far from agreement with respect to the effects that government borrowing has on the economy. Two major schools of thought have emerged which arrive at seemingly contrary conclusions. One school of thought contends that government bonds are perceived as net wealth by the public, and that government borrowing crowds out...
Show moreThe economic implications of federal government debt and deficits have been the source of much debate in the past, and will continue to be for many years to come. Economists are far from agreement with respect to the effects that government borrowing has on the economy. Two major schools of thought have emerged which arrive at seemingly contrary conclusions. One school of thought contends that government bonds are perceived as net wealth by the public, and that government borrowing crowds out private investment, while the other school of thought arrives at precisely the opposite conclusions. An empirical investigation was used to test the validity of the conclusions of these schools of thought.
Show less - Date Issued
- 1987
- PURL
- http://purl.flvc.org/fcla/dt/14383
- Subject Headings
- Debts, Public, Budget deficits
- Format
- Document (PDF)
- Title
- THE ECONOMIC FEASIBILITY OF HARVESTING MECHANIZATION FOR SUGARCANE IN SOUTH FLORIDA.
- Creator
- LEGRAND, FERDINAND., Florida Atlantic University, Fabian, R.G., College of Business, Department of Economics
- Abstract/Description
-
Cane harvesting is the major operation in sugar production which is not entirely mechanized in south Florida. The introduction of a successful harvesting machine is delayed because of the prevailing soil and climatic conditions which cause an increase in the fiber content of cane to be processed. In turn, this increased fiber content in cane will cause a diseconomy in the sugar output per acre as well as an increase in the cost for sugar processing. The recent concern for air pollution may...
Show moreCane harvesting is the major operation in sugar production which is not entirely mechanized in south Florida. The introduction of a successful harvesting machine is delayed because of the prevailing soil and climatic conditions which cause an increase in the fiber content of cane to be processed. In turn, this increased fiber content in cane will cause a diseconomy in the sugar output per acre as well as an increase in the cost for sugar processing. The recent concern for air pollution may prevent the burning of cane prior to harvesting in the future. The cessation of cane burning may make the present method of manual harvesting uneconomical and may cause the closing of the sugar processing plants. The introduction of mechanical harvesting together with the cessation of cane burning will cause a less severe drop in earnings per acre. With this system the Florida sugar industry should manage to continue its operation in the short run. Whether the Florida sugar industry could remain profitable in the long run would depend on how fast technological advances are able to produce a cane quality with a sufficiently low fiber (trash) content to warrant an economical sugar production from mechanically harvested and non-burned cane. Support by public funds in the form of an additional taxation on refined sugar is suggested for a limited period so that the Florida sugar industry may survive at the time when an order to prohibit cane burning would be instituted. Survival by the Florida sugar industry in the long run may depend on the successful application of future technology applied to mechanical harvesting so that a cane with a low trash content can be processed. Such an achievement will lower the fixed and variable costs for sugar production. An alternative approach to economic survival and without taxation in the long run is an effort to increase earnings per acre. The introduction of processing methods other than milling may accomodate the processing of green, mechanically harvested cane without an appreciable increase in costs. Also, the production of by-products may offer an approach to obtain such a goal.
Show less - Date Issued
- 1971
- PURL
- http://purl.flvc.org/fcla/dt/13429
- Subject Headings
- Sugarcane--Florida--Harvesting--Economic aspects
- Format
- Document (PDF)
- Title
- COMPETITION AND PRICES IN A PERFECTLY COMPETITIVE ECONOMY.
- Creator
- HORNER, GEORGE FRENCH, JR., Florida Atlantic University, Scheidell, John M., College of Business, Department of Economics
- Abstract/Description
-
In classical economic theory, competition consisted of buyers outbidding one another and sellers underbidding one another; and it was argued that, for sufficiently large markets, competition would yield uniform prices in equilibrium. Neoclassical economists subsequently investigated the role of preferences in trading, concluding that, in equilibrium, each trader would obtain the most desirable commodity bundle affordable at prevailing prices, given his initial resources. In the process,...
Show moreIn classical economic theory, competition consisted of buyers outbidding one another and sellers underbidding one another; and it was argued that, for sufficiently large markets, competition would yield uniform prices in equilibrium. Neoclassical economists subsequently investigated the role of preferences in trading, concluding that, in equilibrium, each trader would obtain the most desirable commodity bundle affordable at prevailing prices, given his initial resources. In the process, however, neoclassical economists ultimately made price uniformity an assumption, assumed individuals incapable of influencing prices under any circumstances, and redefined competition to mean price-taking behavior. By thus denying individuals any active role in price determination, an inconsistency was introduced into the theory. This thesis eliminates the inconsistency by combining classical competitive behavior and the neoclassical insights into the role of preferences, to produce an axiomatic theory of competition within which the characteristics of equilibrium (uniform prices and utility maximization) are rigorously derived.
Show less - Date Issued
- 1982
- PURL
- http://purl.flvc.org/fcla/dt/14128
- Subject Headings
- Competition, Prices
- Format
- Document (PDF)
- Title
- Concert fee determination: A game-theoretic approach.
- Creator
- Brooks, Arthur Charles., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
- Abstract/Description
-
This thesis is in three parts. In the first, the cultural economics literature which concerns the labor market for musicians is reviewed and its major theoretical and empirical points are examined. The second part begins by briefly surveying the history and main topics in game theory, providing sufficient background for an understanding of the simplified Rubinstein-Stahl bargaining model, which is then described. The third part applies this model to the process by which concert fees are...
Show moreThis thesis is in three parts. In the first, the cultural economics literature which concerns the labor market for musicians is reviewed and its major theoretical and empirical points are examined. The second part begins by briefly surveying the history and main topics in game theory, providing sufficient background for an understanding of the simplified Rubinstein-Stahl bargaining model, which is then described. The third part applies this model to the process by which concert fees are settled upon, and leads to a number of conclusions. Among these are that subjective discount rates reflect bargaining power in the situation described, and that these discount rates are affected by the notorieties of the parties involved.
Show less - Date Issued
- 1994
- PURL
- http://purl.flvc.org/fcla/dt/15040
- Subject Headings
- Game theory, Fees, Professional, Musicians--Fees, Performing arts--United States--Finance
- Format
- Document (PDF)
- Title
- Conjectural variations in models of the oligopoly.
- Creator
- Brown, Roger Joseph Jr., Florida Atlantic University, Hung, Chao-shun, College of Business, Department of Economics
- Abstract/Description
-
This thesis reviews the contemporary work in the area of the role of conjectural variations on the equilibrium price and quantity, in models of the oligopolistic industry. Industry is shown to be capable of producing from the competitive output, to the monopolistic, depending on the conjectural variations of the industry members. Furthermore, it is shown that the results are independent of the number of firms within the industry, as opposed to the classic Cournot model of the oligopoly....
Show moreThis thesis reviews the contemporary work in the area of the role of conjectural variations on the equilibrium price and quantity, in models of the oligopolistic industry. Industry is shown to be capable of producing from the competitive output, to the monopolistic, depending on the conjectural variations of the industry members. Furthermore, it is shown that the results are independent of the number of firms within the industry, as opposed to the classic Cournot model of the oligopoly. Additionally, the notion of consistency of conjectures is reviewed, that is when firms' conjectures regarding their rivals are correct. The imposed requirement of consistency of conjectures is shown to result in a unique price-quantity solution. This latter unique solution is further investigated, by incorporating simple transport costs into the oligopoly model.
Show less - Date Issued
- 1988
- PURL
- http://purl.flvc.org/fcla/dt/14458
- Subject Headings
- Oligopolies
- Format
- Document (PDF)
- Title
- Balance of payments theories and the impact of currency devaluation with reference to the Gambia.
- Creator
- Taal, Badara Alioune F., Florida Atlantic University, Scott, Gerald E., College of Business, Department of Economics
- Abstract/Description
-
Balance of payments theories have been developed to examine the impact of various factors in a nation's payments position. This thesis sets out to investigate the impact of currency devaluation in small LDC nations, particularly the Gambia. The Gambia has been struggling with balance of payment deficits brought about by many factors, amongst which external debt service payments have played a very significant role. The models recommended by the various theories are very closely examined in...
Show moreBalance of payments theories have been developed to examine the impact of various factors in a nation's payments position. This thesis sets out to investigate the impact of currency devaluation in small LDC nations, particularly the Gambia. The Gambia has been struggling with balance of payment deficits brought about by many factors, amongst which external debt service payments have played a very significant role. The models recommended by the various theories are very closely examined in this endeavour followed by an empirical analysis to specifically determine the exact nature of the impact of currency devaluation to the economy of the Gambia.
Show less - Date Issued
- 1993
- PURL
- http://purl.flvc.org/fcla/dt/14905
- Subject Headings
- Gambia--Economic conditions, Developing countries--Economic conditions, Devaluation of currency--Gambia, Balance of payments--Gambia
- Format
- Document (PDF)
