This study investigates intraday relations between price changes and trading volume of options and stocks for a sample of firms whose options traded on the CBOE during the first quarter of 1986. ...After purging the price change series of the effects of bid/ask spreads, multivariate time-series analysis is used to estimate the lead/lag relation between the price changes in the option and stock markets. The results indicate that price changes in the stock market lead the option market by as much as fifteen minutes. The analysis of trading volume indicates that the stock market lead may be even longer.
Economics and Hermeneutics looks at the ways that hermeneutics might help economists address problems such as entrepreneurship, price theory, rational expectations, monetary theory, welfare economics ...and economic policy.
Contributors: Lawrence A. Berger , University of Pennsylvania; Tyler Cowen , George Mason University; Richard Ebling , Hillsdale College; Arjo Klamer , George Mason University; Randall Kroszner , University of Chicago; Ludwig M. Lachmann , University of Witwaterstrand; G.B. Madison , McMaster University; Uskali Maki , University of Helsinki; Donald N. McCloskey , University of Iowa; Philip Mirowski , Notre Dame University; Tom G. Palmer , Catholic University; Ralph Rector , George Mason University; Jon D. Wisman , The American University
The pioneering work of Jacob Grimm and Wilhelm Grimm in the areas of Germanic comparative and historical linguistics, lexicography, philology, and medieval studies places them squarely among the most ...important figures in the history of the language sciences. The contributions to this volume present a fascinating and timely reevaluation and reaffirmation of the significance of the Grimm Brothers' work in these areas, all of which the Grimms viewed as necessary components in their search for the essence of the German and Germanic Volksgeist.
This paper shows that the organizations responsible for regulating safety at the National Aeronautics and Space Administration (NASA) failed to identify flaws in management procedures and technical ...design that, if corrected, might have prevented the Challenger tragedy. Analysis of the processes of discovery, monitoring, investigation, and sanctioning in the Space Shuttle Program indicates that regulatory effectiveness was inhibited by the autonomy and interdependence of NASA and its regulators. This discovery suggests that autonomy and interdependence, concepts developed from research on the external control of organizations, are applicable to the study of intraorganizational regulatory relationships. Moreover, by articulating the organizational contribution to technical failure, this research challenges existing assumptions about the social control of risky technologies.
Analysis of the 1986 Senegal Demographic and Health Survey reveals that mothers may be able to improve their children's survival chances by migrating from the countryside to the city. Children of ...urban migrants, however, continue to experience a much higher risk of mortality before the age of 5 than children of urban nonmigrants, even after the mother has lived in the city for several years. This migrant mortality disadvantage persists when controlling for numerous socioeconomic and fertility-related factors typically associated with child mortality in developing countries, which also serve as indicators of migrant selection and adaptation.
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