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Arbitrage Theory: Introductory Lectures on Arbitrage-Based Financial Asset Pricing by Jochen E.M. Wilhelm (Paperback, 1985)

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The present 'Introductory Lectures on Arbitrage-based Financial Asset Pricing' are a first attempt to give a comprehensive presentation of Arbitrage Theory in a discrete time framework (by the way: all the re sults given in these lectures apply to a continuous time framework but, probably, in continuous time we could achieve stronger results - of course at the price of stronger assumptions). It has been turned out in the last few years that capital market theory as derived and evolved from the capital asset pricing model (CAPM) in the middle sixties, can, to an astonishing extent, be based on arbitrage arguments only, rather than on mean-variance preferences of investors. On the other hand, ar bitrage arguments provided access to a wider range of results which could not be obtained by standard CAPM-methods, e. g. the valuation of contingent claims (derivative assets) Dr the_ investigation of futures prices. To some extent the presentation will loosely follow historical lines. A selected set of capital asset pricing models will be derived according to their historical progress and their increasing complexity as well. It will be seen that they all share common structural properties. After having made this observation the presentation will become an axiomatical one: it will be stated in precise terms what arbitrage is about and what the consequences are if markets do not allow for risk-free arbitrage opportunities. The presentation will partly be accompanied by an illus trating example: two-state option pricing.

Product Identifiers

Publisher
Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
ISBN-13
9783540152415
eBay Product ID (ePID)
95170377

Product Key Features

Author
Jochen E.M. Wilhelm
Publication Name
Arbitrage Theory: Introductory Lectures on Arbitrage-Based Financial Asset Pricing
Format
Paperback
Language
English
Subject
Economics, Finance
Publication Year
1985
Type
Textbook
Number of Pages
116 Pages

Dimensions

Item Height
235mm
Item Width
155mm
Volume
245
Item Weight
220g

Additional Product Features

Title_Author
Jochen E.M. Wilhelm
Series Title
Lecture Notes in Economics and Mathematical Systems
Country/Region of Manufacture
Germany

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Arbitrage Theory: Introductory Lectures on Arbitrage-Based Financial Asset Pricing by Jochen E.M. Wilhelm (Paperback, 1985)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Australian Guidebook for Structural Engineers by Lonnie Pack (Paperback, 2019)

Eduqas GCSE (9-1) Religious Studies Route B: Catholic Christianity and Judaism by Deirdre Cleary, Andrew Barron, Joy White, Patrick Harrison (Paperback, 2017)

The Ethnic Cleansing of Palestine by Ilan Pappe (Paperback, 2007)

Save on Adult Learning & University

The Australian Native Bee Hive Book: Keeping Stingless Sugarbag OATH Tim Heard

Weed Forager's Handbook: A Guide to Edible and Medicinal Weeds in Australia by A

Netter Atlas of Human Anatomy: Classic Regional Approach

George Hrabovsky Leonard Susskind Classical Mechanics (Paperback)

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