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Book Cover
Author Ross, Stephen A.

Title Neoclassical finance / Stephen A. Ross
Published Princeton, N.J. : Princeton University Press, 2004


Location Call no. Vol. Availability
 MELB  332.01 Ros/Nfi  AVAILABLE
Description xi, 102 pages ; 24 cm
Series Princeton lectures in finance
Princeton lectures in finance.
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
Summary "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
Notes Includes index
Bibliography Includes bibliographical references (pages [95]-99) and index
Subject Finance.
Efficient market theory.
LC no. 2004048901
ISBN 0691121389 cloth alkaline paper