The systematic determination of stock values--asset pricing--has developed dramatically in the last few years due to advances in financial theory. Here Cochrane unifies and brings this science up to date for the benefit of advanced students and professionals.
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The systematic determination of stock values--asset pricing--has developed dramatically in the last few years due to advances in financial theory. Here Cochrane unifies and brings this science up to date for the benefit of advanced students and professionals.
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Seller's Description:
Book is in very good condition and may include minimal underlining highlighting. The book can also include From the library of labels. May not contain miscellaneous items toys dvds etc. We offer 100% money back guarantee and 24 7 customer service.
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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 hardback covers. Book contains highlighter markings. In poor condition, suitable as a reading copy. Dust jacket in poor condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 1000grams, ISBN: 9780691121376.
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Fine. Sewn binding. Cloth over boards. With dust jacket. 533 p. Contains: Illustrations. 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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Minor rubbing. VG., dustwrapper. 24x16cm, xvii, 530 pp. "Every day, the financial markets bravely price trillions of dollars in such risky securities as stocks, bonds, options, futures, and derivatives. The systematic determination of their values--asset pricing--has developed dramatically in the last few years due to advances in financial theory and econometrics. In one of the most highly anticipated books in financial economics, John Cochrane unifies and brings this science up to date for the benefit of advanced students and professionals. Cochrane traces the pricing of all assets back to a single idea--price equals expected discounted payoff--that captures the macroeconomic risks underlying each security's value. By using a single, stochastic discount factor rather than a separate set of tricks for each asset class, Cochrane builds a unified account of modern asset pricing. He presents applications to stocks, bonds, and options. Each model--consumption-based, CAPM, multifactor, term structure, and option pricing--is derived as a different specification of the discount factor. The discount factor framework also leads to a state-space geometry for mean-variance frontiers and asset pricing models. It puts payoffs in different states of nature on the axes rather than mean and variance of return, leading to a new and conveniently linear geometrical representation of asset pricing ideas. Cochrane approaches empirical work with the Generalized Method of Moments, which studies sample average prices and discounted payoffs to determine whether price does equal expected discounted payoff..., . "-Publisher's.
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Seller's Description:
Fine. Sewn binding. Cloth over boards. With dust jacket. 533 p. Contains: Illustrations. 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.