{"product_id":"principles-of-financial-economics-hardback-9781107024120","title":"Principles of Financial Economics (Hardback) 9781107024120","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003ePrinciples of Financial Economics\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003eThis second edition includes new chapters on infinite-time security markets and more focus on portfolio choice and risk allocations.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eStephen F. LeRoy (Author), Jan Werner (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781107024120, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 11 August 2014\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e370 pages, 19 b\/w illus.\u003cbr\u003e25.4 x 17.8 x 2.2 cm, 0.86 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'A tour de force of rigor, readability, and clarity. The book seamlessly introduces the beginning doctoral student to financial economics as a natural extension of microeconomic and general equilibrium theory. The book, written by two of the profession's leading experts, is unique.' Rajnish Mehra, Arizona State University\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThis second 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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePreface\u003cbr\u003e Part I. Equilibrium and Arbitrage: 1. Equilibrium in security markets\u003cbr\u003e 2. Linear pricing\u003cbr\u003e 3. Arbitrage and positive pricing\u003cbr\u003e Part II. Valuation: 4. Valuation\u003cbr\u003e 5. State prices and risk-neutral probabilities\u003cbr\u003e Part III. Portfolio Restrictions: 6. Portfolio restrictions\u003cbr\u003e 7. Valuation under portfolio restrictions\u003cbr\u003e Part IV. Risk: 8. Expected utility\u003cbr\u003e 9. Risk aversion\u003cbr\u003e 10. Risk\u003cbr\u003e Part V. Optimal Portfolios: 11. Optimal portfolios with one risky security\u003cbr\u003e 12. Comparative statics of optimal portfolios\u003cbr\u003e 13. Optimal portfolios with several risky securities\u003cbr\u003e Part VI. Equilibrium Prices and Allocations: 14. Consumption-based security pricing\u003cbr\u003e 15. Complete markets and Pareto-optimal allocations of risk\u003cbr\u003e 16. Optimality in incomplete markets\u003cbr\u003e Part VII. Mean-Variance Analysis: 17. The expectations and pricing kernels\u003cbr\u003e 18. The mean-variance frontier payoffs\u003cbr\u003e 19. Capital asset pricing model\u003cbr\u003e 20. Factor pricing\u003cbr\u003e Part VIII. Multidate Security Markets: 21. Equilibrium in multidate security markets\u003cbr\u003e 22. Multidate arbitrage and positivity\u003cbr\u003e 23. Dynamically complete markets\u003cbr\u003e 24. Valuation\u003cbr\u003e Part IX. Martingale Property of Security Prices: 25. Event prices, risk-neutral probabilities, and the pricing kernel\u003cbr\u003e 26. Martingale property of gains\u003cbr\u003e 27. Conditional consumption-based security pricing\u003cbr\u003e 28. Conditional beta pricing and the CAPM\u003cbr\u003e Part X. Infinite-Time Security Markets: 29. Equilibrium in infinite-time security markets\u003cbr\u003e 30. Arbitrage, valuation, and price bubbles\u003cbr\u003e 31. Arrow–Debreu equilibrium in infinite time.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: International business [\u003ca title=\"See our other books on International business\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22International%20business%20%5BKJK%5D%22\"\u003eKJK\u003c\/a\u003e], Finance [\u003ca title=\"See our other books on Finance\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20%5BKFF%5D%22\"\u003eKFF\u003c\/a\u003e], Macroeconomics [\u003ca title=\"See our other books on Macroeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Macroeconomics%20%5BKCB%5D%22\"\u003eKCB\u003c\/a\u003e], Economics [\u003ca title=\"See our other books on Economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economics%20%5BKC%5D%22\"\u003eKC\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46265504661784,"sku":"9781107024120","price":96.48,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781107024120i.jpg?v=1692023565","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/principles-of-financial-economics-hardback-9781107024120","provider":"Freshly Printed Books","version":"1.0","type":"link"}