This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint a

A presentation of classical asset pricing theory, this textbook is the only one to address the economic foundations of financial markets theory from a mathemati

A presentation of classical asset pricing theory, this textbook is the only one to address the economic foundations of financial markets theory from a mathemati

The Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The im

"Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are ration and efficient, as modern financial