This book uses the concept of arbitrage to value securities, that is to construct the elements of financial economics. The book is divided into three parts. Part 1 develops the foundations for the study - it introduces the concepts of securities and arbitrage and establishes the basic arbitrage theorem, that security prices may be expressed as expected discounted values. Part II applies the basic theorem in a single-period setting - it develops a version of the capital asset pricing model under exact arbitrage and the ...
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This book uses the concept of arbitrage to value securities, that is to construct the elements of financial economics. The book is divided into three parts. Part 1 develops the foundations for the study - it introduces the concepts of securities and arbitrage and establishes the basic arbitrage theorem, that security prices may be expressed as expected discounted values. Part II applies the basic theorem in a single-period setting - it develops a version of the capital asset pricing model under exact arbitrage and the arbitrage pricing technique under approximate arbitrage. Part III extends the discussion to a many-period setting. It uses static arbitrage to value futures and related securities, dynamic arbitrage to value options and other derivatives, and, as a coda, risk arbitrage to investigate market efficiency.
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Seller's Description:
This is an ex-library book and may have the usual library/used-book markings inside. This book has soft covers. Clean from markings. In good all round condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 300grams, ISBN: 9780333557815.
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Fine. IX, 171 p. Intended for college/higher education audience. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
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Seller's Description:
Fine. IX, 171 p. Intended for college/higher education audience. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
New. IX, 171 p. Intended for college/higher education audience. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.