9781334297922 - The Optimality of a Competitive Stock Market (Classic Reprint) di Merton, Robert C. (3 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 explores the concept of a company stock market allocating its investments in a way that best benefits society. It delves into discussions on competitive stock markets, firm decisions on investment, and Pareto optimality. The author offers a nuanced look at the topic, providing historical context and insights into the broader implications of investment choices in a competitive market environment. The text examines the relationship between maximizing societal wealth and maximizing market value within firms and argues that conventional assumptions often lead to inefficient investment strategies. In contrast, the author demonstrates that free entry of new firms into a market can lead to Pareto optimality, thereby ensuring a more efficient competitive market allocation of investment. This book is a valuable contribution to the understanding of investment strategies, firm decision-making, and the influence of market structure on the allocation of investment. 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.