Foundations For Financial Economics

Author : Chi-fu Huang,Robert H. Litzenberger
Publisher : North Holland
Page : 392 pages
File Size : 41,9 Mb
Release : 1988
Category : Business & Economics
ISBN : STANFORD:36105009630398

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Foundations for Financial Economics by Chi-fu Huang,Robert H. Litzenberger Pdf

Based on formal derivations of financial theory, this volume provides a rigorous exploration of individual's consumption and portfolio decisions under uncertainty. Features in-depth coverage of such topics as: concepts of risk aversion and stochastic dominance; mathematical properties of a portfolio frontier; distributional conditions for mutual fund separation; capital asset pricing models and arbitrage pricing models; general pricing rules for securities that pay off in more than one state of nature; the pricing of options; rational expectation models of risky asset prices; signaling models; how multiperiod dynamic economies can be modeled; a multiperiod economy with emphasis on valuation by arbitrage; econometric issues associated with testing capital asset pricing models. For readers interested in a rigorous overview of financial economicsn individual consumption point of view. © 1988

Author : Chi-fu Huang,Robert H. Litzenberger
Publisher : North Holland
Page : 392 pages
File Size : 45,8 Mb
Release : 1988
Category : Business & Economics
ISBN : STANFORD:36105009630398

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Foundations for Financial Economics by Chi-fu Huang,Robert H. Litzenberger Pdf

Based on formal derivations of financial theory, this volume provides a rigorous exploration of individual's consumption and portfolio decisions under uncertainty. Features in-depth coverage of such topics as: concepts of risk aversion and stochastic dominance; mathematical properties of a portfolio frontier; distributional conditions for mutual fund separation; capital asset pricing models and arbitrage pricing models; general pricing rules for securities that pay off in more than one state of nature; the pricing of options; rational expectation models of risky asset prices; signaling models; how multiperiod dynamic economies can be modeled; a multiperiod economy with emphasis on valuation by arbitrage; econometric issues associated with testing capital asset pricing models. For readers interested in a rigorous overview of financial economicsn individual consumption point of view. © 1988

Author : Chi Fu Huang,Robert H. Litzenberger
Publisher : Unknown
Page : 0 pages
File Size : 47,9 Mb
Release : 1988
Category : Finance
ISBN : OCLC:1280855442

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Foundations for financial economics by Chi Fu Huang,Robert H. Litzenberger Pdf

Author : Chi Fu Huang,Robert H. Litzenberger
Publisher : Unknown
Page : 0 pages
File Size : 47,8 Mb
Release : 1988
Category : Electronic
ISBN : OCLC:777764461

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Foundations for Financial Economics by Chi Fu Huang,Robert H. Litzenberger Pdf

Author : Thorsten Hens,Sabine Elmiger
Publisher : Springer Nature
Page : 178 pages
File Size : 46,6 Mb
Release : 2019-08-20
Category : Business & Economics
ISBN : 9783030054274

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Economic Foundations for Finance by Thorsten Hens,Sabine Elmiger Pdf

This book provides readers with essential concepts from financial economics for an integrated study of the financial system and the real economy. It discusses how long-term market prices are determined and affected by population growth, technological progress and non-renewable resources. The meaning of market prices is examined from the perspective of households and from the perspective of firms. The book therefore connects different fields of finance, which usually focus only on either the households’ side or the firms’ side.

Author : Stephen F. LeRoy,Jan Werner
Publisher : Cambridge University Press
Page : 301 pages
File Size : 41,7 Mb
Release : 2001
Category : Business & Economics
ISBN : 9780521584340

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Principles of Financial Economics by Stephen F. LeRoy,Jan Werner Pdf

Financial economics, and the calculations of time and uncertainty derived from it, are playing an increasingly important role in non-finance areas, such as monetary and environmental economics. In this 2001 book, Professors Le Roy and Werner supply a rigorous yet accessible graduate-level introduction to this subfield of microeconomic theory and general equilibrium theory. Since students often find the link between financial economics and equilibrium theory hard to grasp, they devote less attention to purely financial topics such as calculation of derivatives, while aiming to make the connection explicit and clear in each stage of the exposition. Emphasis is placed on detailed study of two-date models, because almost all of the key ideas in financial economics can be developed in the two-date setting. In addition to rigorous analysis, substantial sections of discussion and examples are included to make the ideas readily understandable.

Author : Thorsten Hens,Beate Pilgrim
Publisher : Springer Science & Business Media
Page : 336 pages
File Size : 49,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 1402073372

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General Equilibrium Foundations of Finance by Thorsten Hens,Beate Pilgrim Pdf

The purpose of General Equilibrium Foundations of Finance is to give a sound economic foundation of finance based on the general equilibrium model with incomplete markets which embodies the famous CAPM as an important special case. This goal is achieved by giving reasonable restrictions on the agents' characteristics that lead to a well determined financial markets model having a unique competitive equilibrium. The innovation of this book is to transfer and to extend the theoretical results on the structure of competitive equilibria into the modern context of incomplete financial markets. General Equilibrium Foundations of Finance should be easily accessible by advanced Ph.D. students as well as by theorists of any subfield of mathematical economics. It should be interesting both for theorists who are looking for possible applications of rigorous theorizing as well as for practitioners who seek for a theoretical foundation of fruitful applications of financial markets' models.

Author : Robert Cull,Asli Demirguc-Kunt,Jonathan Morduch
Publisher : MIT Press
Page : 519 pages
File Size : 41,6 Mb
Release : 2021-08-03
Category : Business & Economics
ISBN : 9780262544016

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Banking the World by Robert Cull,Asli Demirguc-Kunt,Jonathan Morduch Pdf

Experts report on the latest research on extending access to financial services to the 2.5 billion adults around the world who lack it. About 2.5 billion adults, just over half the world's adult population, lack bank accounts. If we are to realize the goal of extending banking and other financial services to this vast “unbanked” population, we need to consider not only such product innovations as microfinance and mobile banking but also issues of data accuracy, impact assessment, risk mitigation, technology adaptation, financial literacy, and local context. In Banking the World, experts take up these topics, reporting on new research that will guide both policy makers and scholars in a broader push to extend financial markets. The contributors consider such topics as the complexity of surveying people about their use of financial services; evidence of the impact of financial services on income; the occasional negative effects of financial services on poor households, including disincentives to work and overindebtedness; and tools for improving access such as nontraditional credit scores, financial incentives for banking, and identification technologies that can dramatically reduce loan default rates.

Author : Alan J. Auerbach,Daniel N. Shaviro
Publisher : Harvard University Press
Page : 308 pages
File Size : 55,9 Mb
Release : 2008
Category : Business & Economics
ISBN : 0674030974

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Institutional Foundations of Public Finance by Alan J. Auerbach,Daniel N. Shaviro Pdf

Auerbach integrates economic and legal perspectives on taxation and fiscal policy, offering a provocative assessment of the most important issues in public finance today.

Author : Georges Dionne,Scott E. Harrington
Publisher : Springer Science & Business Media
Page : 748 pages
File Size : 42,7 Mb
Release : 1992
Category : Business & Economics
ISBN : 9780792392040

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Foundations of Insurance Economics by Georges Dionne,Scott E. Harrington Pdf

Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.

Author : Jürgen Eichberger
Publisher : Oxford University Press, USA
Page : 284 pages
File Size : 41,9 Mb
Release : 1997
Category : Business & Economics
ISBN : 0198775407

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Financial Economics by Jürgen Eichberger Pdf

Numerous examples and diagrams illustrate the key arguments, and the main chapters are followed by guides to the relevant literature and exercises for students.

Author : Frank J. Fabozzi,Edwin H. Neave,Guofu Zhou
Publisher : Wiley Global Education
Page : 774 pages
File Size : 48,8 Mb
Release : 2012-04-13
Category : Business & Economics
ISBN : 9781118213452

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Financial Economics by Frank J. Fabozzi,Edwin H. Neave,Guofu Zhou Pdf

Financial Economics, by Frank Fabozzi, Ted Neave, and Gaofu Zhou, presents an introduction to basic financial ideas through a strong grounding in microeconomic theory. This calculus based text explores the theoretical framework for analyzing the decisions by individuals and managers of firms, an area which is coming to both financial economics and microeconomics. It also explores the interplay of these decisions on the prices of financial assets. The authors provide rigorous coverage aimed at assisting the undergraduate and masters-level students to better understand the principles and practical application of financial economic theory. In addition, the book serves as a supplemental reference for doctoral students in economics and finance, as well as for practitioners who are interested in knowing more about the theory and intuition behind many coming practices in finance. In short, the book focuses on economic principles and on putting these principles to work in the various fields of finance - financial management, investment management, risk management, and asset and derivatives pricing.

Author : Antonio Mele
Publisher : MIT Press
Page : 1147 pages
File Size : 48,8 Mb
Release : 2022-11-22
Category : Business & Economics
ISBN : 9780262046848

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Financial Economics by Antonio Mele Pdf

A comprehensive reference for financial economics, balancing theoretical explanations, empirical evidence, and the practical relevance of knowledge in the field. This volume offers a comprehensive, integrated treatment of financial economics, tracking the major milestones in the field and providing methodological tools. Doing so, it balances theoretical explanations, empirical evidence, and practical relevance. It illustrates nearly a century of theoretical advances with a vast array of models, showing how real phenomena (and, at times, market practice) have helped economists reformulate existing theories. Throughout, the book offers examples and solved problems that help readers understand the main lessons conveyed by the models analyzed. The book provides a unique and authoritative reference for the field of financial economics. Part I offers the foundations of the field, introducing asset evaluation, information problems in asset markets and corporate finance, and methods of statistical inference. Part II explains the main empirical facts and the challenges these pose for financial economists, which include excess price volatility, market liquidity, market dysfunctionalities, and the countercyclical behavior of market volatility. Part III covers the main instruments that protect institutions against the volatilities and uncertainties of capital markets described in part II. Doing so, it relies on models that have become the market standard, and incorporates practices that emerged from the 2007–2008 financial crisis.

Author : Frank J. Fabozzi,Frank J. Jones
Publisher : MIT Press
Page : 1105 pages
File Size : 45,7 Mb
Release : 2019-04-30
Category : Business & Economics
ISBN : 9780262351720

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Foundations of Global Financial Markets and Institutions, fifth edition by Frank J. Fabozzi,Frank J. Jones Pdf

A thoroughly revised and updated edition of a textbook for graduate students in finance, with new coverage of global financial institutions. This thoroughly revised and updated edition of a widely used textbook for graduate students in finance now provides expanded coverage of global financial institutions, with detailed comparisons of U.S. systems with non-U.S. systems. A focus on the actual practices of financial institutions prepares students for real-world problems. After an introduction to financial markets and market participants, including asset management firms, credit rating agencies, and investment banking firms, the book covers risks and asset pricing, with a new overview of risk; the structure of interest rates and interest rate and credit risks; the fundamentals of primary and secondary markets; government debt markets, with new material on non-U.S. sovereign debt markets; corporate funding markets, with new coverage of small and medium enterprises and entrepreneurial ventures; residential and commercial real estate markets; collective investment vehicles, in a chapter new to this edition; and financial derivatives, including financial futures and options, interest rate derivatives, foreign exchange derivatives, and credit risk transfer vehicles such as credit default swaps. Each chapter begins with learning objectives and ends with bullet point takeaways and questions.

Author : Thorsten Hens,Marc Oliver Rieger
Publisher : Springer Science & Business Media
Page : 377 pages
File Size : 55,7 Mb
Release : 2010-07-01
Category : Business & Economics
ISBN : 9783540361480

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Financial Economics by Thorsten Hens,Marc Oliver Rieger Pdf

Financial economics is a fascinating topic where ideas from economics, mathematics and, most recently, psychology are combined to understand financial markets. This book gives a concise introduction into this field and includes for the first time recent results from behavioral finance that help to understand many puzzles in traditional finance. The book is tailor made for master and PhD students and includes tests and exercises that enable the students to keep track of their progress. Parts of the book can also be used on a bachelor level. Researchers will find it particularly useful as a source for recent results in behavioral finance and decision theory.