Joseph Stiglitz
Who is Joseph Stiglitz? Joseph Eugene Stiglitz is a renowned American economist. In 2001, Stiglitz was awarded the Nobel Prize for Economics for his foundational theory of markets with asymmetric information. He received the award together with fellow American economists Michael Spence and George Akerlof. Joseph Stiglitz’s Life and Career Joseph Stiglitz was born in...
Expiration Time
What is Expiration Time (in Options)? Expiration time in options trading occurs on the third Saturday of the expiration month at 11:59 a.m. EST. The expiration time is not to be confused with the last day to trade options, which is the third Friday of the expiration month. The expiration time is the moment when...
Export Credit Agency (ECA)
What is an Export Credit Agency (ECA)? An export credit agency (ECA) is an institution that works to support companies with their international trade. Export credit agencies can be private, quasi-governmental, or entirely run by the government. They offer financing solutions and risk insurance (guarantees) for companies trying to export and import products. An ECA’s...
Heads of Agreement
What is the Heads of Agreement? The heads of agreement, also known as the head of terms, is a document summarizing the terms of a proposed agreement like a property sale, partnerships, joint ventures, etc. Typically, a heads of agreement is non-binding, which means that neither party is obligated to agree to the terms listed...
Headline Effect
What is the Headline Effect? The headline effect is the impact of headlines, news, and narratives on asset prices as well as the economy in general. The effect can be both positive or negative for asset prices. The effect runs counter to modern finance theory that gives no importance to headlines or narratives as causal...
