Delivers a detailed explanation of financial economics to those who seek a pragmatic summary of modern finance without the demands of advanced mathematics
1. Role of Financial Markets2. Challenges of Asset PricingII.3. Choices in Risky Situations4. Measuring Risk and Risk Aversion5. Risk Aversion and Investment Decisions, Part 16. Risk Aversion and Investment Decisions, Part 27. Risk Aversion and Investment Decisions, Part 3III.8. The CAPM9. Arrow-Debreu Pricing, Part I10. The Consumption Capital Asset Pricing Model (CCAPM)11. Arrow Debreu Pricing, Part IIIV.12. The Martingale Measure in Discrete Time, Part 113. The Martingale Measure in Discrete Time, Part 214. The APT15. Continuous Time Finance16. Portfolio Management in the Long Run17. Financial Structure and Firm Valuation in Incomplete MarketsV.18. Financial Equilibrium with Differential Information
Jean-Pierre Danthine is professor of economics and finance at the
University of Lausanne Switzerland), director of the International
Center for Financial Asset Management and Engineering Lausanne &
Geneva) and CEPR Research Fellow. The holder of a Ph.D. in
economics from Carnegie-Mellon University and a M.S. in Economics
from the University of Louvain, Professor DanthineI previously
taught at at Columbia University and held visiting appointments at
CUNY Graduate Center, University of Southern California (Los
Angeles), Université d'Aix-Marseille, Université Laval (Québec), as
well as Universities of Toulon and Dijon.
He is an Associate Editor of Macroeconomic Dynamics and Finance
Research Letters; Chairman of the Scientific Council of the TCIP
(Training Center for Investment Professionals); member of the
Council of the European Economic Association, of the Scientific
Councils of CEPREMAP (Paris), CREST (Paris), CREI (U. Pompeu Fabra,
Barcelona) as well as the Fonds national de la recherche
scientifique (Economics Commission - Belgium). He was also a member
of the Executive Committee of the ICMB (Geneva). Professor
Donaldson holds the teaches the Mario J. Gabelli Professorship in
Finance at Columbia Business school, teaching courses in basic
finance and options. He focuses on business cycles and asset
pricing, with a particular emphasis on the real side of the
economy’s impact on equilibrium pricing of financial assets. His
work has appeared in numerous professional journals, including the
Journal of Economic Dynamics and Control, Econometrica, the Journal
of Economic Theory and the Journal of Monetary Economics.
"This is an excellent book that introduces financial asset pricing theory as a natural extension of microeconomic and general equilibrium theory. The exposition of classic and recent results is clear, thorough and accessible to any economist or graduate student who has a good grounding in microeconomic theory. Having mastered this material the reader is well equipped to tackle the many variations of asset pricing models in the literature." --Frank Milne, Queen's University, Professor of Economics and Finance "This book is ideally suited to students wishing to gain a deeper understanding of the basic concepts of financial economics beyond those presented in a typical MBA program without having to deal with unnecessary mathematical details. The exposition is superb and enriching of intuition. The book, written by two of the professions leading experts, is unique." -- Rajnish Mehra, Professor of Finance, University of California, Santa Barbara
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