Merton

Continuous Time-Finance Rev

• Broschiertes Buch

Produktbeschreibung

Robert C. Merton's widely-used text provides an overview and synthesis of finance theory from the perspective of continuous-time analysis. It covers individual financial choice, corporate finance, financial intermediation, capital markets, and selected topics on the interface between private and public finance. For this revised edition a new section on managing university endowments has been added. The book begins with a foreword by Paul Samuelson.

Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 754
• Erscheinungstermin: 6. August 1992
• Englisch
• Abmessung: 229mm x 152mm x 40mm
• Gewicht: 1071g
• ISBN-13: 9780631185086
• ISBN-10: 0631185089
• Artikelnr.: 14863791

Autorenporträt

Robert C. Merton is George Fisher Baker, Professor of Business Administration, Harvard University.

Inhaltsangabe

Foreward: Paul Samuelson.

Part I: Introduction to Finance and the Mathematics ofContinuous-time Models.

Part II: Optimum Consumption and Portfolio Selection inContinuous-time Models.

Part III: Warrant and Option Pricing Theory.

Part IV: Contingent-Claims Analysis in the Theory of CorporateFinance and Financial Intermediation.

Part V: An Intertemporal-Equilibrium Theory of Finance.

Part VI: Applications of the Continuous-Time Model to SelectedIssues in Public Finance.

Rezensionen

"The thoughtful way in which the book is organized, the connectivesections, and the fullness of this remarkable scholar'saccomplishments, succeed in making this collection into a watershedevent in finance. It is a testament to how much of modern financehe has formulated, advanced, and, in a meaningful sense, brought toa satisfactory completeness. Modern finance has much to do, but itcan do no better than to add to what Merton has already done, and Irecommend this book to all who wish to learn what finance has beenup to for the past two decades." Stephen Ross, Journal ofFinance

"I do not see how one can undertake research inintertemporal asset-pricing under uncertainty without studying verycarefully the past and present work of Robert C. Merton.Accordingly, Basil Blackwell has done the academic and non-academicfinance community a great service by publishing this book."Michael Selby, The Economic Journal

"A coherent text that represents a bible on continuous-timefinance. Anyone with an interest in financial economics will beaware of the outstanding achievements of Robert C. Merton. To theseindividuals the book will come as no disappointment. It willundoubtedly be a classic reference on continuous-time finance formany years to come." The Manchester School

"John Maynard Keynes alludes to economics in the following terms...'the delightful paths of our own most agreeable branch of moralsciences, in which theory and fact, intuitive imagination andpractical judgment, are blended in a manner comfortable to thehuman intellect.' Robert C. Merton's Continuous-timeFinance, which comes to us more than 20 years after his firstpaper appeared, squarely fits this description." SureshSundaresan, Columbia University, The Review of FinancialStudies