In economics, incomplete markets are markets in which there does not exist an Arrow–Debreu security for every possible state of nature. In contrast with complete markets, this shortage of securities will likely restrict individuals from transferring the desired level of wealth among states. An Arrow security purchased or sold at date t is a contract promising to deliver one unit of income in one of the possible contingencies which can occur at date t + 1. If at each date-event there exists a complete set of such contracts, one for each contingency that can occur at the following date, individuals will trade these contracts in order to insure against future risks, targeting a desirable and budget feasible level of consumption in each state (i.e. consumption smoothing). In most set ups when these contracts are not available, optimal risk sharing between agents will not be possible. For this scenario, agents (homeowners, workers, firms, investors, etc.) will lack the instruments to insure against future risks such as employment status, health, labor income, prices, among others. (Wikipedia).
(The Lost Episodes) Perfectly Competitive Factor and Output Markets
The first of four cases for a firm operating in a factor market, this looks at a firm that competes with many other firms not only to sell its product, but to purchase its resources. "(THE LOST EPISODES) Perfectly Competitive Factor and Output Markets" by Dr. Mary J. McGlasson is licensed
From playlist Microeconomics modules
Understanding How Prices Work in a Free Market
Now that we know about supply and demand, we are ready to talk about prices, and how they dictate the dynamics of a free market economy. Free markets lead to an efficient distribution of resources, however there are exceptions, such as with imperfect competition and monopolies, so let's ma
From playlist Economics
(THE LOST EPISODES) Market Structures for Buyers
I'm starting some new videos that weren't planned for in the original series -- topics that I haven't been able to cover in my regular classes in any detail for a while. In this video, I take a quick look at the idea of different market structures on the BUYERS' side of the market, rather
From playlist Microeconomics modules
(THE LOST EPISODES) Factor Market Overview
In a factor market, you can be BOTH a buyer (of resources) AND a seller (of output). "(THE LOST EPISODES) Factor Market Overview" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
From playlist Microeconomics modules
It’s sometimes easy to think that we’ve run out of stuff to make and sell one another. Far from it: Capitalism is still very undeveloped. We’re only at its very dawn. If you like our films take a look at our shop (we ship worldwide): http://www.theschooloflife.com/shop/all/ Please subs
From playlist WORK + CAPITALISM
This video is a precursor to the market experiment we'll be doing in class. "Market Prologue" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
From playlist Microeconomics modules
From playlist Courses and Series
Marie-Claire Quenez: European and american optionsin a non-linear incomplete market with default
HYBRID EVENT Recorded during the meeting "Advances in Stochastic Control and Optimal Stopping with Applications in Economics and Finance" the September 12, 2022 by the Centre International de Rencontres Mathématiques (Marseille, France) Filmmaker: Guillaume Hennenfent Find this video a
From playlist Probability and Statistics
4 5 Fundamental theorems of asset pricing Part 1
BEM1105x Course Playlist - https://www.youtube.com/playlist?list=PL8_xPU5epJdfCxbRzxuchTfgOH1I2Ibht Produced in association with Caltech Academic Media Technologies. ©2020 California Institute of Technology
From playlist BEM1105x Course - Prof. Jakša Cvitanić
4 6 Fundamental theorems of asset pricing Part 2
BEM1105x Course Playlist - https://www.youtube.com/playlist?list=PL8_xPU5epJdfCxbRzxuchTfgOH1I2Ibht Produced in association with Caltech Academic Media Technologies. ©2020 California Institute of Technology
From playlist BEM1105x Course - Prof. Jakša Cvitanić
Mathematics of Electricity Costs
In this video from the 2013 SIAM Annual Meeting, Alejandro Jofré of Universidad de Chile considers a wholesale electricity market model with generators interacting strategically and general networks including externalities such as transmission losses. Previous work shows how mechanisms suc
From playlist What is math used for?
8 2 Stochastic Volatility Part 2
BEM1105x Course Playlist - https://www.youtube.com/playlist?list=PL8_xPU5epJdfCxbRzxuchTfgOH1I2Ibht Produced in association with Caltech Academic Media Technologies. ©2020 California Institute of Technology
From playlist BEM1105x Course - Prof. Jakša Cvitanić
Episode 27B: Deadweight Loss from Monopoly
This video shows more formally how society as a whole loses under a monopoly vs. a competitive market. "EPISODE 27B: Deadweight Loss from Monopoly" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
From playlist Microeconomics modules
Introduction to Retargeting | Marketing Analytics for Beginners | Part-28
In marketing analytics, retargeting is how companies re-engage potential customers. Companies use Google Analytics or tracking codes to identify a criterion that can be used to develop retargeting lists. These lists identify people who had a buying intention when they visited the platform
From playlist Marketing Analytics for Beginners
Addyi Isn't that Effective, and it Isn't Selling Very Well
No studies this week. We're actually going to do news. It's time for an Addyi update. Addyi, or Flibanserin was touted as the "female Viagra" despite the fact that it isn't very similar to Viagra. It still doesn't work very well or for very many patients. And it has a lot of side effects.
From playlist Healthcare Triage News
Too Soon?!? - The Challenges of Early Builds and Game Demos - Extra Credits
Most of the time in game development, the game isn't actually in a polished and/or playable state until very close to the release date, which is why many studios are reluctant to release early builds or demos even at major marketing events like E3. Learn about the role of the build enginee
From playlist Extra Credits (ALL EPISODES)
Accelerating Use of the Digital Medical Record with Optimized Structured & Unstructured Data
Clinical data in its raw form is incredibly challenging to use. The inherent variation in source documentation, wide range of terminologies, and fragmented storage of data across the healthcare system all contribute to its complexity. Clinical data, however, can also be an incredible, str
From playlist Healthcare NLP Summit 2022
Bonus Livestream Session - Ethereum Basics
You've got questions about Ethereum? Get them answered in this Ethereum Basics Livestream session by aantonop. Timestamps (by Yes2Crypto) 0:00:30 Welcome from Andreas 0:01:14 Thank you to Community Builders 0:02:47 Video "thank you" from Community Builders 0:05:32 Moderation Policy 0:
From playlist English Subtitles - aantonop Videos with subtitles in English
From playlist Courses and Series