Finance Theory and Asset Pricing

Name: Finance Theory and Asset Pricing
Price: 60.56 USD
Availability: InStock
ISBN: 9780199261062

ISBN-10: 0199261067

ISBN-13: 9780199261062

Edition: 2nd 2003 (Revised)

Authors: Frank Milne

List price: $110.00

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Description:

Finance Theory and Asset Pricing provides a concise guide to financial asset pricing theory for economists. Assuming a basic knowledge of graduate microeconomic theory, it explores the fundamental ideas that underlie competitive financial asset pricing models with symmetric information. Using finite dimensional techniques, this book avoids sophisticated mathematics and exploits economic theory to clarify the essential structure of recent research in asset pricing. Inparticular, it explores arbitrage pricing models with and without diversification, Martingale pricing methods, and representative agent pricing models; discusses these ideas in two-date and multi-date models; and provides a…

Book details

List price: $110.00
Edition: 2nd
Copyright year: 2003
Publisher: Oxford University Press, Incorporated
Publication date: 5/29/2003
Binding: Hardcover
Pages: 246
Size: 5.75" wide x 8.50" long x 0.75" tall
Weight: 0.836
Language: English



Introduction



A Brief History of Finance Theory



The One Period Model



Two Date Models: Complete Markets



Incomplete Markets with Production



Arbitrage and Asset Pricing: Induced Preference Approach



Martingale Pricing Methods



Representative Consumers



Diversification and Asset Pricing



The Basic Multiperiod Model



Multiperiod Asset Pricing: Complete Markets



General Asset Pricing in Complete Markets



Multiperiod Asset Pricing: Incomplete Asset Markets



The General Multiperiod Model



The General Model and Asset Price Characterization



Arbitrage and Discounting Formulae



Pareto Optimality



Orthonormal Bases, Factor Pricing, and Multi-Beta Asset Pricing



Idiosyncrasies that are Irrelevant for Security Pricing



Discrete Stochastic Integrals and Multiperiod Factor Pricing



Fiat Money as an Asset, Nominal Assets, and International Finance



Extensions to the Basic Model