Asset Pricing and Portfolio Choice Theory, by Kerry Back offers introduction and extensive evaluation of asset pricing. It can be helpful textbook for graduate students in finance, with substantial exercises and also a solutions manual available for professors. The book will even serve being an vital reference for scholars and professionals, because it includes comprehensive proofs and calculations as area appendices.
Topics coated include the classical results on single-period, discrete-time, and continuous-time models, as well as numerous proposed explanations for the equity high quality and risk-free rate puzzles and chapters on heterogeneous beliefs, asymmetric data, non-expected utility preferences, and manufacturing designs.
Asset Pricing and Portfolio Choice Theory gets to be new typical in finance PhD programs as well like a valued reference for seasoned finance scholars all over the place. The protection of topics is comprehensive, beginning in a single-period setting and after that relocating the natural way to dynamic models in both discrete and ongoing time. The numerous difficult exercises are an additional huge power.
The book includes several exercises developed to provide follow with all the ideas and also to introduce additional results. Each and every chapter concludes using a notes and references section that provides pathways to further developments inside the area.
Finally, Asset Pricing and Portfolio Choice Theory offers concise presentation and in the end of every chapter workout routines, must have pedagogical tool for each students and instructors. It is going to be beneficial to graduate students and sophisticated undergraduate college students in economics, finance, financial engineering, and management science.
Asset Pricing and Portfolio Choice Theory
Oxford University Press, USA; 1 edition
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