Details about Klaus Reiner Schenk-Hoppé

Homepage:	http://www.schenk-hoppe.net
Postal address:	Economics, School of Social Sciences, University of Manchester, UK
Workplace:	School of Economics, University of Manchester, (more information at EDIRC)

Access statistics for papers by Klaus Reiner Schenk-Hoppé.

Last updated 2023-01-06. Update your information in the RePEc Author Service.

Short-id: psc14

---

Jump to Journal Articles Books Edited books Chapters

Working Papers

2022

1. Strategic complementarity and substitutability of investment strategies
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute

2021

2. Economic Growth in the UK: Rolling with the Punches
   Economics Discussion Paper Series, Economics, The University of Manchester
3. Evolution in pecunia
   Post-Print, HAL
   Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2020) View citations (1)
   See also Journal Article in Proceedings of the National Academy of Sciences (2021)
4. Non-Standard Errors
   Working Papers, Faculty of Economics and Statistics, University of Innsbruck View citations (1)
   Also in Working Paper Series, Social and Economic Sciences, Faculty of Social and Economic Sciences, Karl-Franzens-University Graz (2021) View citations (1)

2020

5. Behavioral Equilibrium and Evolutionary Dynamics in Asset Markets
   Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (2)
   See also Journal Article in Journal of Mathematical Economics (2020)
6. Cold play: Learning across bimatrix games
   MPRA Paper, University Library of Munich, Germany
   See also Journal Article in Journal of Economic Behavior & Organization (2021)

2019

7. Evolutionary Stable Solution Concepts for the Initial Play
   Economics Discussion Paper Series, Economics, The University of Manchester
8. International Trade: Smarten up to talk the talk
   MPRA Paper, University Library of Munich, Germany
9. Log-Optimal and Rapid Paths in von Neumann-Gale Dynamical Systems
   Economics Discussion Paper Series, Economics, The University of Manchester
10. The Resolution of Long-Run Risk
    Economics Discussion Paper Series, Economics, The University of Manchester

2018

11. Patience is a Virtue - In Value Investing
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
    See also Journal Article in International Review of Finance (2020)
12. Von Neumann-Gale Dynamics and Capital Growth in Financial Markets with Frictions
    Economics Discussion Paper Series, Economics, The University of Manchester View citations (2)
13. Von Neumann-Gale Dynamics, Market Frictions, and Capital Growth
    Economics Discussion Paper Series, Economics, The University of Manchester

2017

14. Front-Running and Market Quality: An Evolutionary Perspective on High Frequency Trading
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
    See also Journal Article in International Review of Finance (2018)
15. Margin Requirements and Evolutionary Asset Pricing
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)

2015

16. Evolutionary Behavioural Finance
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
17. Itchy Feet vs Cool Heads: Flow of Funds in an Agent-based Financial Market
    Economics Discussion Paper Series, Economics, The University of Manchester View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2016)

2012

18. Costs and Benefits of Financial Regulation: Short-Selling Bans and Transaction Taxes
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
    See also Journal Article in Journal of Banking & Finance (2015)
19. Costs and Benefits of Speculation
    Discussion Papers, Norwegian School of Economics, Department of Business and Management Science View citations (1)

2010

20. A Simple Model of the Firm Life Cycle
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
21. An evolutionary financial market model with a risk-free asset
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
22. Consumption Paths under Prospect Utility in an Optimal Growth Model
    Diskussionsschriften, Universitaet Bern, Departement Volkswirtschaft View citations (6)
    Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2010) View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2011)

2009

23. Growing wealth with fixed-mix strategies
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
    See also Chapter (2011)
24. Survival and Evolutionary Stability of the Kelly Rule
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (5)
    See also Chapter (2011)

2008

25. Asset Market Games of Survival
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (2)
26. Evolutionary Finance
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (12)
27. From Discrete to Continuous Time Evolutionary Finance Models
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
    See also Journal Article in Journal of Economic Dynamics and Control (2010)
28. Market Selection of Constant Proportions Investment Strategies in Continuous Time
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
    See also Journal Article in Journal of Mathematical Economics (2010)

2007

29. Closed-Form Solutions For European And Digital Calls In The Hull And White Stochastic Volatility Model And Their Relation To Locally R-Minimizing And Delta Hedges
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute
30. Do Stylised Facts of Order Book Markets Need Strategic Behaviour?
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2009)
31. Sovereign Rating Transitions And The Price Of Default Risk In Emerging Markets
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (1)
32. Stochastic Volatility: Risk Minimization and Model Risk
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute

2006

33. On the Evolution of Investment Strategies and the Kelly Rule – A Darwinian Approach
    Discussion Papers, Norwegian School of Economics, Department of Business and Management Science View citations (8)
    Also in Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2006) View citations (1)
34. Stochastic equilibria in von Neumann–Gale dynamical systems
    Economics Discussion Paper Series, Economics, The University of Manchester View citations (1)
35. The effect of supply and demand in a dynamic limit order based financial market
    Computing in Economics and Finance 2006, Society for Computational Economics
36. VPure and Randomized Equilibria in the Stochastic von Neumann-Gale model
    Economics Discussion Paper Series, Economics, The University of Manchester
    See also Journal Article in Journal of Mathematical Economics (2007)
37. Volatility-Induced Financial Growth
    Economics Discussion Paper Series, Economics, The University of Manchester View citations (2)
    See also Journal Article in Quantitative Finance (2007)

2005

38. Globally Evolutionarily Stable Portfolio Rules
    Discussion Papers, Norwegian School of Economics, Department of Business and Management Science
    See also Journal Article in Journal of Economic Theory (2008)

2004

39. (Un)anticipated Technological Change in an Endogenous Growth Model
    Discussion Papers, University of Copenhagen. Department of Economics
    See also Journal Article in Studies in Nonlinear Dynamics & Econometrics (2009)
40. Survival of the Fittest on Wall Street
    Discussion Papers, University of Copenhagen. Department of Economics View citations (3)

2003

41. Evolutionary Stability of Portfolio Rules in Incomplete Markets
    Discussion Papers, University of Copenhagen. Department of Economics View citations (4)
    See also Journal Article in Journal of Mathematical Economics (2005)
42. Evolutionary Stable Stock Markets
    Discussion Papers, University of Copenhagen. Department of Economics View citations (10)
    Also in IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (39)
    See also Journal Article in Economic Theory (2006)
43. Market selection and survival of investment strategies
    LIDAM Discussion Papers CORE, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)
    Also in Discussion Papers, University of Copenhagen. Department of Economics (2002)
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (44)
    Economics Discussion Paper Series, Economics, The University of Manchester (2002)
    See also Journal Article in Journal of Mathematical Economics (2005)
44. On the Micro-Foundations of Money: The Capitol Hill Baby-Sitting Co-op
    Discussion Paper Series, Hamburg Institute of International Economics
    Also in Discussion Papers, University of Copenhagen. Department of Economics (2003)
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (1)
    HWWA Discussion Papers, Hamburg Institute of International Economics (HWWA) (2003)
45. Volatility-induced Growth in Financial Markets
    Discussion Papers, University of Copenhagen. Department of Economics

2002

46. Markets Do Not Select For a Liquidity Preference as Behavior Towards Risk
    Discussion Papers, University of Copenhagen. Department of Economics View citations (1)
    Also in IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (3)
    See also Journal Article in Journal of Economic Dynamics and Control (2006)
47. Poverty Traps and Business Cycles in a Stochastic Overlapping Generations Economy with S-shaped Law of Motion
    Discussion Papers, University of Copenhagen. Department of Economics View citations (1)
    See also Journal Article in Journal of Macroeconomics (2005)

1998

48. - AN EVOLUTIONARY MODEL OF BERTRAND OLIGOPOLY
    Working Papers. Serie AD, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) View citations (8)
    See also Journal Article in Games and Economic Behavior (2000)

Undated

49. An Application of Evolutionary Finance to Firms Listed in the Swiss Market Index
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (5)
    See also Journal Article in Swiss Journal of Economics and Statistics (SJES) (2002)
50. Business Cycle Phenomena in Overlapping Generations Economies with Stochastic Production
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich
51. Economic Growth and Business Cycles: A Critical Comment on Detrending Time Series (Revised Version)
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich
52. Evolution of Portfolio Rules in Incomplete Markets
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (4)
53. Financial Markets and Stochastic Growth
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (6)
    See also Journal Article in Review of International Economics (2003)
54. From Rags to Riches: On Constant Proportions Investment Strategies
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (13)
    See also Journal Article in International Journal of Theoretical and Applied Finance (IJTAF) (2002)
55. Is There a Golden Rule for the Stochastic Solow Growth Model ?
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (1)
    See also Journal Article in Macroeconomic Dynamics (2002)
56. Market Selection of Financial Trading Strategies: Global Stability
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (46)
    See also Journal Article in Mathematical Finance (2002)
57. Random Dynamical Systems in Economics
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (11)
58. Random Fixed Points in a Stochastic Solow Growth Model
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (13)
    See also Journal Article in Journal of Mathematical Economics (2001)
59. Resuscitating the Cobweb Cycle
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (1)
    See also Journal Article in Journal of Forecasting (2004)
60. Sample-Path Stability of Non-Stationary Dynamic Economic Systems
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (1)
    See also Journal Article in Annals of Operations Research (2002)
61. Stochastic Tastes and Money in a Neo-Keynesian Economy
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich

Journal Articles

2022

1. Economic Growth in the UK: The Inception
   World, 2022, 3, (2), 1-13
2. Perspectives on the Future of Growth
   World, 2022, 3, (2), 1-14

2021

3. Cold play: Learning across bimatrix games
   Journal of Economic Behavior & Organization, 2021, 185, (C), 419-441 View citations (2)
   See also Working Paper (2020)
4. Evolution in pecunia
   Proceedings of the National Academy of Sciences, 2021, 118, (26), e2016514118
   See also Working Paper (2021)

2020

5. Behavioral equilibrium and evolutionary dynamics in asset markets
   Journal of Mathematical Economics, 2020, 91, (C), 121-135 View citations (2)
   See also Working Paper (2020)
6. Patience Is a Virtue: In Value Investing
   International Review of Finance, 2020, 20, (4), 1019-1031 View citations (1)
   See also Working Paper (2018)
7. Pricing Defaulted Italian Mortgages
   JRFM, 2020, 13, (2), 1-14 View citations (2)

2019

8. Herding in Smart-Beta Investment Products
   JRFM, 2019, 12, (1), 1-14 View citations (7)

2018

9. Front‐Running and Market Quality: An Evolutionary Perspective on High Frequency Trading
   International Review of Finance, 2018, 18, (4), 727-741 View citations (2)
   See also Working Paper (2017)

2016

10. Itchy feet vs cool heads: Flow of funds in an agent-based financial market
    Journal of Economic Dynamics and Control, 2016, 63, (C), 53-68 View citations (6)
    See also Working Paper (2015)

2015

11. Costs and benefits of financial regulation: Short-selling bans and transaction taxes
    Journal of Banking & Finance, 2015, 51, (C), 103-118 View citations (16)
    See also Working Paper (2012)
12. Dynamic portfolio optimization with transaction costs and state-dependent drift
    European Journal of Operational Research, 2015, 243, (3), 921-931 View citations (4)
13. Fragmentation and stability of markets
    Journal of Economic Behavior & Organization, 2015, 119, (C), 466-481 View citations (6)

2013

14. Asset market games of survival: a synthesis of evolutionary and dynamic games
    Annals of Finance, 2013, 9, (2), 121-144 View citations (20)
15. Introduction: behavioral and evolutionary finance
    Annals of Finance, 2013, 9, (2), 115-119 View citations (3)

2012

16. Forecasting customer behaviour in a multi-service financial organisation: A profitability perspective
    International Journal of Forecasting, 2012, 28, (2), 507-518 View citations (3)

2011

17. An evolutionary explanation of the value premium puzzle
    Journal of Evolutionary Economics, 2011, 21, (5), 803-815 View citations (5)
18. Consumption paths under prospect utility in an optimal growth model
    Journal of Economic Dynamics and Control, 2011, 35, (3), 273-281 View citations (15)
    See also Working Paper (2010)

2010

19. From discrete to continuous time evolutionary finance models
    Journal of Economic Dynamics and Control, 2010, 34, (5), 913-931 View citations (2)
    See also Working Paper (2008)
20. Market selection of constant proportions investment strategies in continuous time
    Journal of Mathematical Economics, 2010, 46, (2), 248-266 View citations (6)
    See also Working Paper (2008)
21. The role of country, regional and global market risks in the dynamics of Latin American yield spreads
    Journal of International Financial Markets, Institutions and Money, 2010, 20, (4), 404-422 View citations (7)

2009

22. (Un)anticipated Technological Change in an Endogenous Growth Model
    Studies in Nonlinear Dynamics & Econometrics, 2009, 13, (1), 1-21
    See also Working Paper (2004)
23. Do stylised facts of order book markets need strategic behaviour?
    Journal of Economic Dynamics and Control, 2009, 33, (4), 817-831 View citations (13)
    See also Working Paper (2007)
24. Risk minimization in stochastic volatility models: model risk and empirical performance
    Quantitative Finance, 2009, 9, (6), 693-704 View citations (29)

2008

25. Financial markets. The joy of volatility
    Quantitative Finance, 2008, 8, (1), 1-3 View citations (5)
26. Globally evolutionarily stable portfolio rules
    Journal of Economic Theory, 2008, 140, (1), 197-228 View citations (27)
    See also Working Paper (2005)

2007

27. Pure and randomized equilibria in the stochastic von Neumann-Gale model
    Journal of Mathematical Economics, 2007, 43, (7-8), 871-887 View citations (5)
    See also Working Paper (2006)
28. The Great Capitol Hill Baby Sitting Co-op: Anecdote or Evidence for the Optimum Quantity of Money?
    Journal of Money, Credit and Banking, 2007, 39, (6), 1305-1333 View citations (3)
    Also in Journal of Money, Credit and Banking, 2007, 39, (6), 1305-1333 (2007)
29. Volatility-induced financial growth
    Quantitative Finance, 2007, 7, (2), 151-160 View citations (11)
    See also Working Paper (2006)

2006

30. Evolutionary stable stock markets
    Economic Theory, 2006, 27, (2), 449-468 View citations (36)
    See also Working Paper (2003)
31. Markets do not select for a liquidity preference as behavior towards risk
    Journal of Economic Dynamics and Control, 2006, 30, (2), 279-292 View citations (6)
    See also Working Paper (2002)

2005

32. Evolutionary finance: introduction to the special issue
    Journal of Mathematical Economics, 2005, 41, (1-2), 1-5 View citations (7)
33. Evolutionary stability of portfolio rules in incomplete markets
    Journal of Mathematical Economics, 2005, 41, (1-2), 43-66 View citations (49)
    See also Working Paper (2003)
34. Market selection and survival of investment strategies
    Journal of Mathematical Economics, 2005, 41, (1-2), 105-122 View citations (37)
    See also Working Paper (2003)
35. Poverty traps and business cycles in a stochastic overlapping generations economy with S-shaped law of motion
    Journal of Macroeconomics, 2005, 27, (2), 275-288 View citations (3)
    See also Working Paper (2002)

2004

36. Resuscitating the cobweb cycle
    Journal of Forecasting, 2004, 23, (8), 621-624 View citations (1)
    See also Working Paper

2003

37. Financial Markets and Stochastic Growth
    Review of International Economics, 2003, 11, (2), 219-236 View citations (6)
    See also Working Paper

2002

38. An Application of Evolutionary Finance to Firms Listed in the Swiss Market Index
    Swiss Journal of Economics and Statistics (SJES), 2002, 138, (IV), 465-487 View citations (10)
    See also Working Paper
39. Exponential growth of fixed-mix strategies in stationary asset markets
    Finance and Stochastics, 2003, 7, (2), 263-276 View citations (7)
40. FROM RAGS TO RICHES: ON CONSTANT PROPORTIONS INVESTMENT STRATEGIES
    International Journal of Theoretical and Applied Finance (IJTAF), 2002, 05, (06), 563-573 View citations (1)
    See also Working Paper
41. IS THERE A GOLDEN RULE FOR THE STOCHASTIC SOLOW GROWTH MODEL?
    Macroeconomic Dynamics, 2002, 6, (4), 457-475 View citations (3)
    See also Working Paper
42. MARKET SELECTION OF FINANCIAL TRADING STRATEGIES: GLOBAL STABILITY
    Mathematical Finance, 2002, 12, (4), 329-339 View citations (44)
    See also Working Paper
43. Sample-Path Stability of Non-Stationary Dynamic Economic Systems
    Annals of Operations Research, 2002, 114, (1), 263-280 View citations (2)
    See also Working Paper

2001

44. Economic Growth and Business Cycles: A Critical Comment on Detrending Time Series
    Studies in Nonlinear Dynamics & Econometrics, 2001, 5, (1), 1-13 View citations (3)
45. Random fixed points in a stochastic Solow growth model
    Journal of Mathematical Economics, 2001, 36, (1), 19-30 View citations (15)
    See also Working Paper

2000

46. An Evolutionary Model of Bertrand Oligopoly
    Games and Economic Behavior, 2000, 33, (1), 1-19 View citations (59)
    See also Working Paper (1998)
47. The evolution of Walrasian behavior in oligopolies
    Journal of Mathematical Economics, 2000, 33, (1), 35-55 View citations (18)

Books

2015

1. Mathematical Financial Economics
   Springer Texts in Business and Economics, Springer View citations (3)

Edited books

2009

1. Handbook of Financial Markets: Dynamics and Evolution
   Elsevier Monographs, Elsevier View citations (135)

Chapters

2021

1. Cryptocurrencies: Concept and Current Market Structure
   Chapter 1 in Cryptofinance A New Currency for a New Economy, 2021, pp 1-28

2015

2. American Derivative Securities
   Springer
3. Behavioral Equilibrium and Evolutionary Dynamics
   Springer
4. CAPM Continued
   Springer
5. Capital Asset Pricing Model (CAPM)
   Springer
6. Capital Growth Theory
   Springer
7. Capital Growth Theory: Continued
   Springer
8. Dynamic Securities Market Model
   Springer
9. Efficient Portfolios in a Market with a Risk-Free Asset
   Springer
10. Factor Models and the Ross-Huberman APT
    Springer
11. From Binomial Model to Black–Scholes Formula
    Springer
12. General Equilibrium Analysis of Financial Markets
    Springer
13. Mean-Variance Portfolio Analysis: The Markowitz Model
    Springer
14. Portfolio Selection: Introductory Comments
    Springer
15. Problems and Exercises I
    Springer
    Also in Springer (2015)
    Springer (2015)
16. Properties of Efficient Portfolios
    Springer
17. Risk-Neutral Pricing
    Springer
18. Solution to the Markowitz Optimization Problem
    Springer View citations (1)
19. The Cox–Ross–Rubinstein Binomial Model
    Springer
20. The Markowitz Model with a Risk-Free Asset
    Springer

2011

21. Growing Wealth with Fixed-Mix Strategies
    Chapter 29 in THE KELLY CAPITAL GROWTH INVESTMENT CRITERION THEORY and PRACTICE, 2011, pp 427-455 View citations (4)
    See also Working Paper (2009)
22. Survival and Evolutionary Stability of the Kelly Rule
    Chapter 20 in THE KELLY CAPITAL GROWTH INVESTMENT CRITERION THEORY and PRACTICE, 2011, pp 273-284 View citations (2)
    See also Working Paper (2009)

2006

23. The von Neumann-Gale Growth Model and Its Stochastic Generalization
    Springer