Essays about: "Gustav Axén"

Found 2 essays containing the words Gustav Axén.

1. 1. Why Are Assets on Betting Markets Priced So Diversely? A Microeconomic Analysis

   University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomi

   Author : Gustav Axén; [2018]
   Keywords : Prediction markets; betting; gambling; efficient market hypothesis; market failure;

   Abstract : We consider a set of counter-intuitive empirical observations about betting markets, and ask to which extent they can be explained by microeconomic theory. Those facts are, roughly, that (i) prices are not uniform for seemingly equivalent instruments, (ii) betting exchanges generally offer better odds than bookmakers, (iii) there are many bookmakers operating but one dominant betting exchange and (iv) long-shot events are often predicted to occur more frequently than they actually do by the market. READ MORE

3. 2. The Problem of Stability and the Balance of Power - Markets and Democracy Without External Enforcement for Three Players

   University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomi

   Author : Gustav Axén; [2016]
   Keywords : Anarchy; State of Nature; Markets; Democracy; Bargaining;

   Abstract : We analyze a non-cooperative game for three players intended to represent the stability of political systems. We compare a market and a democratic system to see how they modify an anarchic outcome in terms of stability. READ MORE