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Intermediate Financial Theory

Author

Listed:
  • Danthine, Jean-Pierre

    (Vice-Chairman of the Governing Board at the Swiss National Bank in Bern, Switzerland)

  • Donaldson, John B.

    (Mario J. Gabelli Professor of Finance at Columbia University Business School, New York, NY, USA)

Abstract

Targeting readers with backgrounds in economics, Intermediate Financial Theory, Third Edition includes new material on the asset pricing implications of behavioral finance perspectives, recent developments in portfolio choice, derivatives-risk neutral pricing research, and implications of the 2008 financial crisis. Each chapter concludes with questions, and for the first time a freely accessible website presents complementary and supplementary material for every chapter. Known for its rigor and intuition, Intermediate Financial Theory is perfect for those who need basic training in financial theory and those looking for a user-friendly introduction to advanced theory. Completely updated edition of classic textbook that fills a gap between MBA- and PhD-level texts Focuses on clear explanations of key concepts and requires limited mathematical prerequisites Online solutions manual available Updates include new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, and a new chapter on asset management for the long-term investor

Suggested Citation

  • Danthine, Jean-Pierre & Donaldson, John B., 2014. "Intermediate Financial Theory," Elsevier Monographs, Elsevier, edition 3, number 9780123865496.
  • Handle: RePEc:eee:monogr:9780123865496
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    Citations

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    Cited by:

    1. Mehra, Rajnish & Prescott, Edward C., 2003. "The equity premium in retrospect," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 14, pages 889-938, Elsevier.
    2. Prasanna Gai & Nicholas Vause, 2006. "Measuring Investors' Risk Appetite," International Journal of Central Banking, International Journal of Central Banking, vol. 2(1), March.
    3. Jacques A. Schnabel, 2009. "Divergence of opinion and valuation in a mean-variance framework," Studies in Economics and Finance, Emerald Group Publishing, vol. 26(3), pages 148-154, July.
    4. Samih A Azar, 2010. "Random risk aversion and the cost of eliminating the foreign exchange risk of the Euro," Economics Bulletin, AccessEcon, vol. 30(1), pages 157-168.
    5. Rajnish Mehra, 2003. "The Equity Premium: Why is it a Puzzle?," NBER Working Papers 9512, National Bureau of Economic Research, Inc.
    6. G├╝rtler, Marc & Hartmann, Nora, 2004. "The equity premium puzzle and emotional asset pricing," Working Papers FW10V3, Technische Universit├Ąt Braunschweig, Institute of Finance.
    7. Thomas Flavin, 2006. "How risk averse are fund managers? Evidence from Irish mutual funds," Applied Financial Economics, Taylor & Francis Journals, vol. 16(18), pages 1355-1363.
    8. repec:eee:glofin:v:37:y:2018:i:c:p:199-218 is not listed on IDEAS
    9. Samih Antoine Azar, 2007. "Measuring the US social discount rate," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 3(1), pages 63-66, January.

    More about this item

    Keywords

    Allais paradox; Arbitrage Pricing Theory; Arbitrage pricing theory; Arrow-Debreu; Arrow-Debreu (AD) pricing; Arrow-Debreu model; Arrow-Debreu prices; Arrow-Debreu pricing theory; Arrow-Debreu securities; Arrow-Debreu setting; Arrow-Pratt measure; BE/ME ratio; Black-Scholes formula; Brownian motion; CAPM; CCAPM; CRRA; Canonical portfolio problem; Capital asset pricing model; Capital market line; Cash flow; Certainty equivalent; Closed-form pricing; Competitive equilibrium; Complex securities; Constant absolute risk aversion (CARA); Continuous time processes; Cross-correlations; Declining absolute risk aversion (DARA); Dybvig's evaluation; Economic rationality; Edgeworth-Bowley box; FOCs; Great Moderation; Great Recession; Great Recession case; Hansen-Jagannathan bounds; Jensen's inequality; Joint saving-portfolio problem; Lucas tree; MPT; Market model; Mean-variance space; Modern portfolio theory; Modigliani-Miller Theorem; Modigliani-Miller theorem; No-trade equilibrium; Nonnegativity constraints; Normality-of-returns; Optimal portfolio; Pareto optimal; Payoff; Positive correlation; Posttrade allocation; Present value (PV); Prospect Theory; Random variable; Random walks; Rational expectations equilibrium; Rational expectations hypothesis; Risk aversion; Risk sharing; Risk-free rate; Risk-neutral probabilities; Risk-neutral valuation; Sawtooth pattern; Sharpe ratio; State-by-state dominance; State-contingent claim; T-bill rate; VNM; Value Additivity Theorem; Walrasian equilibrium; Wiener process; Zero-beta CAPM;

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