9781332272945 - On Euler-Equation Restrictions on the Temporal Behavior of Asset Returns (Classic Reprint) di Marsh, Terry A. (4 risultati)

PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000.

PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000.

Paperback. Condizione: New. Print on Demand. This book delves into the Euler Equation, a cornerstone of finance theory, and its implications for understanding asset returns and their relationship to elements like consumption. The author argues that the Euler Equation, while a useful tool, has limitations, and that its application to asset pricing models can lead to flawed assumptions. This is because these models often rely on unrealistic utility functions and a representative individual whose preferences can be standardized. The author also maintains that consumption data may not be a reliable indicator of marginal utility changes, especially for those not actively participating in financial markets. The book argues for alternative approaches to asset pricing models that focus on observed changes in speculative prices and their relationship to nonspeculative price variables. Ultimately, the author's insights challenge the notion that asset prices can be solely explained by the Euler Equation and consumption, expanding the understanding of asset pricing behavior. 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: Sehr gut. Zustand: Sehr gut | Seiten: 52 | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar.