Two more of the many co-winners of the 2009 Ig Nobel economics prize have achieved special recognition from the Icelandic government: they have been pronounced guilty in legal proceedings. BACKGROUND: The 2009 Ig Nobel Prize for economics was awarded to the directors, executives, and auditors of four Icelandic banks — Kaupthing Bank, Landsbanki, Glitnir Bank, and Central Bank of […]
Tag: banks
Finance Folklore and Fantasy
If you’re interested in the role that folklore might have to play in the world of high finance and banking, may we recommend an article in the journal Folklore, Volume 124, Issue 3, 2013? Where author Robert McDowall, who holds a Law degree (LLB Hons) from University College London, and is based in the UK […]
How Iceland is a very Ig Nobel nation, and why that’s good
Iceland, though a small, physically isolated country, can boast of great Ig Nobelity. Ig Nobel Prizes, of course, are awarded for achievements that make people laugh, then think. Iceland displayed panache in its Ig Nobellian displays of economics, and then government. BANKS. The 2009 Ig Nobel Prize for economics was awarded to the directors, executives, and […]
Twenty-six co-winners of the 2009 Ig Nobel economics prize have been sentenced to prison
Twenty-six co-winners of the 2009 Ig Nobel economics prize have been sentenced to prison, with perhaps more on the way, according to an October 14, 2015 report in Iceland Magazine: In two separate rulings last week, the Supreme Court of Iceland and the Reykjavík District Court sentenced three top managers of Landsbankinn and two top managers […]
BC Prof explores new immortal legal/financial powers of dead people
The United States is a very good place to be dead; better than almost anywhere, legally speaking. Ray Madoff, a professor at Boston College Law School who specializes in trusts and estates, lays out evidence for that in her book called Immortality and the Law: The Rising Power of the American Dead. Other nations have their own strong […]
Smirkness in Economics
Those who follow developments in the derivatives market, and particularly in its sub-section, the options market, may be aware of the concept of Smirkness. It was first proposed at the 2005 China International Conference in Finance, where professors Jin Zhang and Yi Xiang presented their paper ‘Implied Volatility Smirk’ “In this paper, we propose a new […]
Iceland analysizes its Ig winners
The Government of Iceland commissioned and has now received a massive report about the co-winners of the 2009 Ig Nobel Economics Prize. The official word: The Special Investigation Commission (SIC) delivered its report to Althingi on April 12 2010. The Commission was established by Act No. 142/2008 by Althingi, the Icelandic Parliament, in December 2008, […]