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Principles of Financial Economics 2nd Edition by Stephen Leroy, Jan Werner ISBN 110767302X 978-1107673021

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Principles of Financial Economics 2nd Edition Stephen F. Leroy Digital Instant Download

Author(s): Stephen F. LeRoy, Jan Werner
ISBN(s): 9781107024120, 1107024129
Edition: 2
File Details: PDF, 20.95 MB
Year: 2014
Language: english
SKU: EB-7398692 Category: Tags: ,

Principles of Financial Economics 2nd Edition by Stephen F. Leroy,  Jan Werner – Ebook PDF Instant Download/Delivery:  110767302X,  978-1107673021
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Product details: 

ISBN 10:  110767302X

ISBN 13:  978-1107673021

Author:  Stephen F. Leroy,  Jan Werner

This new edition provides a rigorous yet accessible graduate-level introduction to financial economics. Since students often find the link between financial economics and equilibrium theory hard to grasp, less attention is given to purely financial topics, such as valuation of derivatives, and more emphasis is placed on making the connection with equilibrium theory explicit and clear. This book also provides a detailed study of two-date models because almost all of the key ideas in financial economics can be developed in the two-date setting. Substantial discussions and examples are included to make the ideas readily understandable. Several chapters in this new edition have been reordered and revised to deal with portfolio restrictions sequentially and more clearly, and an extended discussion on portfolio choice and optimal allocation of risk is available. The most important additions are new chapters on infinite-time security markets, exploring, among other topics, the possibility of price bubbles.
 

Table of contents: 

Part I. Equilibrium and Arbitrage:

1. Equilibrium in security markets

2. Linear pricing

3. Arbitrage and positive pricing

Part II. Valuation:

4. Valuation

5. State prices and risk-neutral probabilities

Part III. Portfolio Restrictions:

6. Portfolio restrictions

7. Valuation under portfolio restrictions

Part IV. Risk:

8. Expected utility

9. Risk aversion

10. Risk

Part V. Optimal Portfolios:

11. Optimal portfolios with one risky security

12. Comparative statics of optimal portfolios

13. Optimal portfolios with several risky securities

Part VI. Equilibrium Prices and Allocations:

14. Consumption-based security pricing

15. Complete markets and Pareto-optimal allocations of risk

16. Optimality in incomplete markets

Part VII. Mean-Variance Analysis:

17. The expectations and pricing kernels

18. The mean-variance frontier payoffs

19. Capital asset pricing model

20. Factor pricing

Part VIII. Multidate Security Markets:

21. Equilibrium in multidate security markets

22. Multidate arbitrage and positivity

23. Dynamically complete markets

24. Valuation

Part IX. Martingale Property of Security Prices:

25. Event prices, risk-neutral probabilities, and the pricing kernel

26. Martingale property of gains

27. Conditional consumption-based security pricing

28. Conditional beta pricing and the CAPM

Part X. Infinite-Time Security Markets:

29. Equilibrium in infinite-time security markets

30. Arbitrage, valuation, and price bubbles

31. Arrow–Debreu equilibrium in infinite time.

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