Letter, 1864 August 8, Oscar D. Ladley to Mother and Sisters [Catherine, Mary, and Alice Ladley]

Letter to Oscar Ladley\u27s mother and sisters from a convalescent hospital in St. Augustine, Florida. Oscar writes about being sick in the hospital, the local crops, news about his and other regiments, and more.https://corescholar.libraries.wright.edu/special_ms138/1148/thumbnail.jp

Letter, 1857 December 2, Oscar D. Ladley to Sisters [Mary and Alice Ladley]

Letter to Oscar Ladley\u27s sisters from Columbus, Ohio. Oscar writes about how glad he was to hear from them and that they liked the Delaine . He also asks his sisters to write to him if there is anything they want.https://corescholar.libraries.wright.edu/special_ms138/1001/thumbnail.jp

The role of hormones in financial markets

Steroid hormones, such as testosterone, have been shown to affect risk preferences in financial traders with high levels leading to excessive risk-taking. Hormone levels, in turn, are affected by trading outcomes as well as by gender - males are more sensitive to stimuli than females. We develop a model to investigate the effects of hormones on financial market stability and trader performance. An increase in the proportion of female traders does not necessarily make markets less volatile; however, it reduces the occurrence of market crashes. Male traders on average under-perform females, although the best performing individuals are more likely to be male

Letter, 1863 May 4, Oscar D. Ladley to Mother and Sisters [Catherine, Mary, and Alice Ladley]

Letter to Oscar Ladley\u27s mother and sisters from camp near the Rappahannock River. Oscar writes about a recent battle near the Rappahannock River and details the losses his regiment suffered.https://corescholar.libraries.wright.edu/special_ms138/1101/thumbnail.jp

Letter, 1862 August 4, Oscar D. Ladley to Mother and Sisters [Catherine, Mary, and Alice Ladley]

Letter to Oscar Ladley\u27s mother and sisters from camp near Sperryville, Virginia. In this letter Oscar writes about drills with his brigade and division, about attempting to get a commission, seeing his father\u27s old home in Woodstock, and more.https://corescholar.libraries.wright.edu/special_ms138/1038/thumbnail.jp

The Strategic Exploitation of Limited Information and Opportunity in Networked Markets

This paper studies the effect of constraining interactions within a market. A model is analysed in which boundedly rational agents trade with and gather information from their neighbours within a trade network. It is demonstrated that a trader’s ability to profit and to identify the equilibrium price is positively correlated with its degree of connectivity within the market. Where traders differ in their number of potential trading partners, well-connected traders are found to benefit from aggressive trading behaviour.Where information propagation is constrained by the topology of the trade network, connectedness affects the nature of the strategies employed

Size Effects in Agent-Based Macroeconomic Models: An Initial Investigation

We investigate the scale-free property of an agent-based macroeconomic model initially proposed by Wright (2005), called the Social Architecture (SA) model. The SA model has been shown to be able to replicate a number of important features of a macroeconomy, such as patterns concerning economic growth, business cycles, industrial dynamics and income distribution. We explore whether macroeconomic stylized features resulting from this model are robust when the number of agents populating the (model) economy vary. We simulate the model by systematically varying the agent population with 100, 500, 1000, 2,000, 4,000, 8,000 and 10,000 agents. Our results indicate that the SA model does exhibit significant size effects for several important variables

The Simplicity of Optimal Trading in Order Book Markets

A trader’s execution strategy has a large effect on his profits. Identifying an optimal strategy, however, is often frustrated by the complexity of market microstructures. We analyse an order book based on continuous double auction market under two different models of trader’s behaviour. In the first case actions only depend on a linear combination of the best bid and ask. In the second model, traders adopt the Markov perfect equilibrium strategies of the trading game. Both models are analytically intractable, and so optimal strategies are identified by the use of numerical techniques. Using the Markov model we show that, beyond the best quotes, additional information has little effect on either the behaviour of traders or the dynamics of the market. The remarkable similarity of the results obtained by the linear model indicates that the optimal strategy may be reasonably approximated by a linear function. We conclude that while the order book market and strategy space of traders are potentially very large and complex, optimal strategies may be relatively simple and based on a minimal information set

The global biopharma industry and the rise of Indian drug multinationals: implications for Australian generics policy

This article provides a synopsis of the new dynamics of the global biopharma industry. The emergence of global generics companies with capabilities approximating those of 'big pharma' has accelerated the blurring of boundaries between the innovator and generics sectors. Biotechnology-based products form a large and growing segment of prescription drug markets and regulatory pathways for biogenerics are imminent. Indian biopharma multinationals with large-scale efficient manufacturing plants and growing R&D capabilities are now major suppliers of Active Pharmaceutical Ingredients (APIs) and generic drugs across both developed and developing countries. In response to generic competition, innovator companies employ a range of life cycle management techniques, including the launch of 'authorised generics'. The generics segment in Australia will see high growth rates in coming years but the prospect for local manufacturing is bleak. The availability of cheap generics in international markets has put pressure on Pharmaceutical Benefits Scheme (PBS) pricing arrangements, and a new policy direction was announced in November 2006. Lower generics prices will have a negative impact on some incumbent suppliers but industrial renewal policies for the medicines industry in Australia are better focused on higher value R&D activities and niche manufacturing of sophisticated products