Book Description

Based on formal derivations of financial theory, this volume provides a rigorous exploration of individual's consumption and portfolio decisions under uncertainty. Features in-depth coverage of such topics as: concepts of risk aversion and stochastic dominance; mathematical properties of a portfolio frontier; distributional conditions for mutual fund separation; capital asset pricing models and arbitrage pricing models; general pricing rules for securities that pay off in more than one state of nature; the pricing of options; rational expectation models of risky asset prices; signaling models; how multiperiod dynamic economies can be modeled; a multiperiod economy with emphasis on valuation by arbitrage; econometric issues associated with testing capital asset pricing models. For readers interested in a rigorous overview of financial economicsn individual consumption point of view. © 1988

The publisher, Prentice Hall Business Publishing

The purpose of the book is to provide the foundations for the study of modern financial economics. Rather than giving superficial coverage of a wide range of topics, the book concentrates on individuals' consumption and portfolio decisions under uncertainty and their implications for the valuation of securities. Prentice Hall acquired this title from Elsevier Publishers.

現任Platinum Grove Asset Management LP首席執行官的黃奇輔(Chi-fu Huang)祖籍福建，1955年生於中國颱灣，畢業於斯坦福大學商學院，後執教於麻省理工學院、斯坦福大學和賓夕法尼亞大學等多所世界頂級高校，1989年獲得麻省終身教授職位，1990年成為斯隆學院的正職教授，36歲更獲得講座教授頭銜，並在1994年夏天離開MIT後獲得J.C.Penney的金融教授稱號。

羅伯特·李茲森伯格，博士，曾任斯坦福大學教授，現任阿希姆斯信托公司一傢對衝基金、私募股權和風險投資基金的執行主任。

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