Economic Implications of Extraordinary Movements in Stock Prices

macroeconomics, stock market

Before \u27It\u27 Happens Again: Identifying Financial Fragility in the Financial Sector

The project builds extensively on the theoretical foundations of Minsky’s financial instability hypothesis. A Minskian framework is integrated with both behavioral and human rights theory. The goal is to develop a more holistic view of market dynamics which includes psychological and human rights considerations. In developing this framework, we establish an indicator that can be used to track fragility at the sector and firm levels. This work can be applied to macroprudential policy to more adequately equip regulators whose responsibility it is to tame an unpredictable market

Space exploration: The interstellar goal and Titan demonstration

Automated interstellar space exploration is reviewed. The Titan demonstration mission is discussed. Remote sensing and automated modeling are considered. Nuclear electric propulsion, main orbiting spacecraft, lander/rover, subsatellites, atmospheric probes, powered air vehicles, and a surface science network comprise mission component concepts. Machine, intelligence in space exploration is discussed

The weakest links in the crisis of the Spanish Savings Banks

The bail-out of the Spanish financial system was the largest in the Eurozone. The Spanish savings banks were the main direct recipients of public support between 2010 and 2012 and most of the bail-out money was transferred to the savings banks after a series of mergers and acquisitions were completed among these entities. This article analyses the evolution of the savings banks in the years of economic growth preceding the crisis and their performance in the early aftermath of the 2007 crash using previously unexplored data from the annual financial statements of the 45 savings banks. We conclude it is possible to observe distinct behaviours among the savings banks during the boom years and we estimate the largest part of the bail-out money corresponds to losses registered by a small number of savings banks that were already severely impaired before the merger process got under wa

Two Approaches to Artificial Intelligence: An Analysis of Heideggerian and Dreyfusian Critiques

In this paper, the author explains why Dreyfus’ “in-principle” critique of artificial intelligence successfully dismisses Traditional AI research but cannot sufficiently address (what the author calls) Parallel Distributed Processing (PDP) AI. The problem is that Dreyfus’ recent holistic thoughts run counter to his successful argumentative stance against Traditional AI. The author begins with the debates in- and theories, problems, and latest formulations of- Traditional AI. To flesh-out Dreyfus’ problem with this approach to AI, the author turns to Heidegger’s notion of understanding, making it clear that symbolic representations cannot account for understanding a thing as ready-at-hand, which is a crucial part of Dasein. But don’t PDP networks avoid the pitfalls of Traditional AI? Doesn’t Dreyfus just beg the question when he holds that “human beings are much more holistic than neural nets”? Contra late Dreyfus, the author believes that there is hope in PDP’s ability to exhibit non-formalizable behavior

Some Aspects of Medical Diagnosis

Work reported herein was conducted at the Artificial Intelligence Laboratory, a Massachusetts Institute of Technology research program supported in part by the Advanced Research Projects Agency of the Department of Defense and monitored by the Office of Naval Research under Contract Number N00014-70-A-0362-0005.Since mid July Steve Pauker, Jerome Kassirer, and I (Gerald Jay Sussman) have been observing the diagnostic process of expert physicians with the goal of abstracting the underlying procedures being followed. One purpose of this position paper is to summarize our preliminary conclusions. I will attempt to pinpoint those aspects of the process we feel we understand, and where we are confused or unsure. I will also attempt to indicate some possible theoretical underpinnings of our ideas. Finally, I will propose what I consider to be a coherent research protocol for the development of these ideas.MIT Artificial Intelligence Laborator