Todd J. Feldman

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Reviewing calibration results over the history since early 1980's among several labs shows very mixed results. The best stabilities of GPS receivers, as given by calibrations, are of the order of a few nanoseconds or better over a year, though many results are quite a bit worse. Absolute calibrations show similar potential, though there are problems. We(More)
Research indicates that individual investors trade excessively and underperform the market indices, Barber and Odean (2000). The purpose of this paper is to help explain which behavioral biases, if any, can explain this result using a simulation approach. Results indicate that putting too much weight on the current environment, anchoring, is the largest(More)
I develop a two market agent-based model to study how global portfolio managers affect global financial crises and stability. The Markowitz model is extended by incorporating several insights from behavioral finance. Simulation results of an agent-based version of the Markowitz model reveal that global financial crises do not occur when global managers are(More)
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