Asset Pricing: A Structural Theory and Its Applications
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Description
Modern asset pricing models play a central role in finance and economic theory and applications. This book introduces a structural theory to evaluate these asset pricing models and throws light on the existence of Equity Premium Puzzle. Based on the structural theory, some algebraic (valuation-preserving) operations are developed in asset spaces and pricing kernel spaces. This has a very important implication leading to practical guidance in portfolio management and asset allocation in the global financial industry. The book also covers topics, such as the role of over-confidence in asset pricing modeling, relationship of the portfolio insurance with option and consumption-based asset pricing models, etc.
Chinese Academy of Sciences, China
Additional information
Weight | 0.323 kg |
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Dimensions | 22.9 × 15.2 cm |
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Pages | 92 |
Ships By | 7-8 days |