Stock image for illustration purposes only - book cover, edition or condition may vary.
Incomplete Information and Heterogeneous Beliefs in Continuous-Time Finance
Alexandre C. Ziegler
€ 236.12
FREE Delivery in Ireland
Description for Incomplete Information and Heterogeneous Beliefs in Continuous-Time Finance
Hardback. Describes the effect of incomplete information on investors' expected utility, risky asset prices, and interest rates. This book demonstrates that increasing the quality of investors' information need not increase their expected utility and the prices of risky assets. The impact of other factors is also discussed in detail. Series: Springer Finance. Num Pages: 198 pages, 8 black & white tables, biography. BIC Classification: KFF; KJ. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 234 x 156 x 14. Weight in Grams: 1070.
Continuous-time finance was developed in the late sixties and early seventies by R. C. Merton. Over the years, due to its elegance and analytical conve nience, the continuous-time paradigm has become the standard tool of anal ysis in portfolio theory and asset pricing. However, and probably because it was developed hand in hand with option pricing, in which investors' expecta tions were thought not to matter, continuous-time finance has for a long time almost entirely neglected investors' beliefs. More recently, the development of martingale pricing techniques, in which expectations playa dominant role, and the blurring boundary between those methods and ... Read more
Continuous-time finance was developed in the late sixties and early seventies by R. C. Merton. Over the years, due to its elegance and analytical conve nience, the continuous-time paradigm has become the standard tool of anal ysis in portfolio theory and asset pricing. However, and probably because it was developed hand in hand with option pricing, in which investors' expecta tions were thought not to matter, continuous-time finance has for a long time almost entirely neglected investors' beliefs. More recently, the development of martingale pricing techniques, in which expectations playa dominant role, and the blurring boundary between those methods and ... Read more
Product Details
Format
Hardback
Publication date
2003
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
198
Condition
New
Series
Springer Finance
Number of Pages
198
Place of Publication
Berlin, Germany
ISBN
9783540003441
SKU
V9783540003441
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
Reviews for Incomplete Information and Heterogeneous Beliefs in Continuous-Time Finance
From the reviews of the first edition: "The book is mainly addressed to researchers and graduate students in the fields of economics or finance. However, interested practitioners may also be counted to its target audience. … the book presents an interesting source for those readers interested in the interplay of (micro-) economics and finance, ie. ... Read more