Da: GreatBookPrices, Columbia, MD, U.S.A.
EUR 13,25
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: As New. Unread book in perfect condition.
Da: California Books, Miami, FL, U.S.A.
EUR 18,91
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New.
Da: PBShop.store US, Wood Dale, IL, U.S.A.
PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000.
Da: PBShop.store UK, Fairford, GLOS, Regno Unito
EUR 24,60
Quantità: 15 disponibili
Aggiungi al carrelloPAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000.
Da: California Books, Miami, FL, U.S.A.
EUR 30,61
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New.
Da: Ria Christie Collections, Uxbridge, Regno Unito
EUR 16,93
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New. In.
Da: GreatBookPrices, Columbia, MD, U.S.A.
EUR 31,38
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New.
Da: GreatBookPricesUK, Woodford Green, Regno Unito
EUR 18,59
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: As New. Unread book in perfect condition.
Da: Ria Christie Collections, Uxbridge, Regno Unito
EUR 31,74
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New. In.
Da: GreatBookPricesUK, Woodford Green, Regno Unito
EUR 30,52
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New.
Lingua: Catalano
Editore: Ciro Ediciciones, Barcelona, 2005
Da: Llibrenet, Sant Feliu del Raco, B, Spagna
EUR 8,00
Quantità: 1 disponibili
Aggiungi al carrelloEncuadernación de tapa blanda. Condizione: Bien. Gastronomia (illustratore). Amb moltes receptes i fotos a tot color. Col. Guies gastronòmiques de Catalunya, 4 Disposem de tota la colecció.
Da: Forgotten Books, London, Regno Unito
EUR 15,48
Quantità: Più di 20 disponibili
Aggiungi al carrelloPaperback. Condizione: New. Print on Demand. This book meticulously explores the concept of arbitrage, a financial transaction involving the purchase and sale of an asset in different markets to capitalize on price discrepancies. Critically, it considers the impact of trading costs on arbitrage activities and the resulting market dynamics. The author argues that while arbitrageurs can reduce mispricing, they may not eliminate it entirely due to holding costs and risk aversion. The book highlights the significance of arbitrage in shaping equilibrium prices, emphasizing that observed prices often fall within riskless arbitrage bounds, challenging the utility of riskless arbitrage arguments in pricing models. Furthermore, it underscores the role of arbitrageurs in mitigating mispricing, particularly when liquidity shocks are transient and conditionally volatile. This book contributes to the understanding of arbitrage pricing and imperfect financial markets, offering insights into how market frictions and arbitrage activity influence equilibrium price processes and market efficiency. Its findings have implications for investors, policymakers, and researchers seeking to navigate the complexities of financial markets. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
Da: Forgotten Books, London, Regno Unito
EUR 15,58
Quantità: Più di 20 disponibili
Aggiungi al carrelloPaperback. Condizione: New. Print on Demand. This book seeks to establish a theoretical framework for understanding the impact of market frictions on investment strategies by studying one such friction: holding costs. The author notes that these often-ignored, unit-time costs are present in many arbitrage contexts, citing the short-selling of spot securities and reverse repurchase agreements as examples. The author's model is the first to incorporate such costs without removing all incentives for arbitrageurs to exploit market mispricings, painting a more realistic picture than previous models. It is assumed that arbitrageurs are not risk-tolerant speculators, but rather risk-averse investors with a finite time horizon. The author finds that, even so, arbitrageurs will, in fact, take risky positions with the potential to return a finite, though positive, reward, despite the presence of substantial holding costs. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
Condizione: New. Somos JUANPEBOOKS. Enviamos a todo el mundo por DHL. 100% garantía. Libro nuevo. We ship worldwide by DHL wth tracking. 100% guarentee.
Da: Forgotten Books, London, Regno Unito
EUR 15,59
Quantità: Più di 20 disponibili
Aggiungi al carrelloPaperback. Condizione: New. Print on Demand. This book explores equilibrium pricing in financial markets when investors face holding costs, which arise when shorting a stock or commodity. Unlike traditional models, this book allows for risk-averse arbitrageurs and acknowledges that market mispricing and arbitrage activity can coexist in equilibrium. The author presents a dynamic model that considers liquidity shocks, investor demand, and arbitrageur behavior. Numerical examples illustrate that arbitrageurs can reduce, but not eliminate, market mispricing, thus challenging models that rely on riskless arbitrage alone. Moreover, the model suggests that the effectiveness of arbitrage depends on the characteristics of the mispricing process. Mean reversion is not constant but rather a non-linear function of the mispricing level, implying that empirical studies assuming a constant mean reversion coefficient may be misspecified. The author argues that the dynamic relationship between mispricing and arbitrage activity has significant implications for the understanding of market equilibrium and the arbitrage industry. By providing rigorous theoretical analysis and numerical examples, this book enriches our understanding of how market prices are formed and maintained in the presence of frictions and arbitrage. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
Da: Forgotten Books, London, Regno Unito
EUR 15,64
Quantità: Più di 20 disponibili
Aggiungi al carrelloPaperback. Condizione: New. Print on Demand. This book illuminates the intricate interplay between consumption and investment decisions amidst borrowing constraints. The author employs dynamic programming to establish the existence of optimal policies and characterizes them as feedback functions of the investor's wealth. A major focus is on the case of constant relative risk aversion, where the author thoroughly analyzes the optimal policies and compares them to those in the unconstrained scenario. The analysis reveals that borrowing constraints lead investors to adopt more conservative strategies, investing less in risky assets even at times when the constraint is not binding. This finding challenges the common assumption that borrowing constraints make investors more aggressive risk-takers. The book offers a rigorous framework for understanding how market imperfections, such as borrowing constraints, shape investment behavior and provides insights for financial regulators and policymakers seeking to promote financial stability. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
Da: Forgotten Books, London, Regno Unito
EUR 15,68
Quantità: Più di 20 disponibili
Aggiungi al carrelloPaperback. Condizione: New. Print on Demand. This book explores the relationship between tax heterogeneity and the behavior of stock prices and volume around the ex-dividend day. The author develops a model in which all types of traders, including arbitrageurs, play a role in determining the equilibrium prices. Within this framework, the author explains why the average premium may not be equal to one (the marginal rate of substitution between dividend and capital gains income for the short-term traders) as documented in various empirical studies. The model also implies higher trading volume around the ex-dividend day and allows the author to analyze the determinants of the equilibrium trading volume, namely tax heterogeneity and risk. The author presents empirical results that are consistent with the model's predictions, demonstrating that as the risk associated with the ex-dividend day increases (keeping the dividend yield constant), the abnormal volume of trade significantly decreases. The book's insights on the impact of tax heterogeneity and risk on ex-dividend day trading are significant to investors and researchers seeking to understand the complexities of stock market behavior around dividend payments. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
Da: Forgotten Books, London, Regno Unito
EUR 16,08
Quantità: Più di 20 disponibili
Aggiungi al carrelloPaperback. Condizione: New. Print on Demand. This book examines the impact of transactions costs on asset returns and liquidity premiums in a general equilibrium framework. The author considers a dynamic model where agents face both life cycle and income uncertainty motives for trading. The book analyzes how these costs affect the liquidity premium, which is the difference between the rates of return on illiquid and liquid assets. The findings show that when transactions costs increase, the rate of return on liquid assets decreases, while the rate of return on illiquid assets may increase or decrease. The liquidity premium also increases in this scenario. The effects of transactions costs on both the rate of return on the liquid asset and the liquidity premium, are stronger the higher the fraction of the illiquid assets in the economy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.
Da: moluna, Greven, Germania
EUR 33,31
Quantità: Più di 20 disponibili
Aggiungi al carrelloCondizione: New.
Da: Majestic Books, Hounslow, Regno Unito
EUR 17,66
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand pp. 50.
Da: Majestic Books, Hounslow, Regno Unito
EUR 22,20
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand.
Da: Majestic Books, Hounslow, Regno Unito
EUR 22,61
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand pp. 48.
Da: Majestic Books, Hounslow, Regno Unito
EUR 22,75
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand pp. 50.
Da: Majestic Books, Hounslow, Regno Unito
EUR 22,78
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand pp. 48.
Da: Books Puddle, New York, NY, U.S.A.
Condizione: New. Print on Demand.
Da: Majestic Books, Hounslow, Regno Unito
EUR 25,61
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand pp. 76.
Da: Majestic Books, Hounslow, Regno Unito
EUR 25,87
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand pp. 74.
Da: Biblios, Frankfurt am main, HESSE, Germania
EUR 22,97
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. PRINT ON DEMAND.
Da: Majestic Books, Hounslow, Regno Unito
EUR 37,18
Quantità: 4 disponibili
Aggiungi al carrelloCondizione: New. Print on Demand.
Da: Books Puddle, New York, NY, U.S.A.
Condizione: New. Print on Demand.