This Finance survey examines that Harry Markowitz, the Nobel Prize-winning pioneer of modern portfolio theory, passed away earlier this year: https://afajof.org/news/in-memoriam-harry-markowitz-past-president-of-the-american-finance-association-1927-2023/ (a) Application of the principles of modern portfolio theory allows investors in practice to achieve substantial improvements in the risk-expected return trade-off relative to naive strategies such as equal-weighting that do not take account of return covariances; (b) A continued fall in commercial real estate valuations would trigger another round of banking panic
Keyword: efficiency
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This week's US Economic Experts Panel statement:
The practical application of auction theory to the licensing of rights to use public assets like radiospectrum and other natural resources has generated substantially higher government revenues and better allocative efficiency worldwide than would have happened under previous arrangements.
This week's European Economic Experts Panel statement:
The practical application of auction theory to the licensing of rights to use public assets like radiospectrum and other natural resources has generated substantially higher government revenues and better allocative efficiency worldwide than would have happened under previous arrangements.
This week’s IGM European Economic Experts Panel statements:
A) Europeans would benefit more from an extra €1 billion of public R&D spent through existing (public) channels than from an extra €1 billion of private R&D spent through existing (private) channels, all else equal.
B) Europeans would benefit more from an extra €1 billion of public medical research spent through existing (public) channels than from an extra €1 billion of private medical research spent through existing (private) channels, all else equal.
This week's IGM European Economics Experts Panel statements:
A) Freer movement of goods and services across borders within Europe has made the average western European citizen better off since the 1980s.
B) Freer movement of goods and services across borders within Europe has made many low-skilled western European citizens worse off since the 1980s.
This week's IGM European Economic Experts Panel statement:
On the whole, the shift from state to private ownership of many industrial assets in central and eastern European countries after communism has increased productivity in those countries.
This week’s IGM Economic Experts Panel statement:
Considering both distributional effects and changes in efficiency, it is a good idea to let companies that send video or other content to consumers pay more to Internet service providers for the right to send that traffic using faster or higher quality service.
This week’s IGM Economic Experts Panel statement:
A market that allows payment for human kidneys should be established on a trial basis to help extend the lives of patients with kidney disease.
This week’s IGM Economic Experts Panel statement:
Giving specific presents as holiday gifts is inefficient, because recipients could satisfy their preferences much better with cash.
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