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Neoclassical finance / Stephen A. Ross.

By:

Ross, Stephen A

Material type: Text

TextSeries: Princeton lectures in financePublisher: Princeton : Princeton University Press, c2005 [i.e. 2004]Description: xi, 102 p. : ill. ; 24 cmISBN:

0691121389 (cloth : alk. paper)

Subject(s):

DDC classification:

332.01 22

LOC classification:

HG173 .R675 2004

Contents:

1. No arbitrage : the fundamental theorem of finance -- 2. Bounding the pricing kernel, asset pricing, and complete markets -- 3. Efficient markets -- 4. A neoclassical look at behavioral finance : the closed-end fund puzzle.

Review: "Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail." "This book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners."--BOOK JACKET.

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Holdings
Item type	Current library	Call number	Copy number	Status	Date due	Barcode
Book	City Campus City Campus Main Collection	332.01 ROS (Browse shelf(Opens below))	1	Available		A263232B
Book	City Campus City Campus Main Collection	332.01 ROS (Browse shelf(Opens below))	1	Available		A416166B

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Includes bibliographical references and index.

"Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail." "This book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners."--BOOK JACKET.

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