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Cambridge University Press The Capital Asset Pricing Model in the 21st Century: Analytical, Empirical, and Behavioral Perspectives

Name: The Capital Asset Pricing Model in the 21st Century: Analytical, Empirical, and Behavioral Perspectives
Brand: Cambridge University Press
Price: 40.0 GBP
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Applied Mathematics

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The Capital Asset Pricing Model (CAPM) and the mean-variance (M-V) rule, which are based on classic expected utility theory, have been heavily criticized theoretically and empirically. The advent of behavioral economics, prospect theory and other psychology-minded approaches in finance challenges the rational investor model from which CAPM and M-V derive. Haim Levy argues that the tension between the classic financial models and behavioral economics approaches is more apparent than real. This book aims to relax the tension between the two paradigms. Specifically, Professor Levy shows that although behavioral economics contradicts aspects of expected utility theory, CAPM and M-V are intact in both expected utility theory and cumulative prospect theory frameworks. There is furthermore no evidence to reject CAPM empirically when ex-ante parameters are employed. Professionals may thus comfortably teach and use CAPM and behavioral economics or cumulative prospect theory as coexisting paradigms.

Product Specifications

Brand: Cambridge University Press
Format: paperback
ASIN: 052118651X
Category: Books > Subjects > Science, Nature & Maths > Mathematics > Applied Mathematics
Domain: Amazon UK
Release Date: 04 November 2011
Listed Since: 16 March 2011

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Cambridge University Press The Capital Asset Pricing Model in the 21st Century: Analytical, Empirical, and Behavioral Perspectives

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This is the most expensive it has ever been. Walk away.

Cambridge University Press The Capital Asset Pricing Model in the 21st Century: Analytical, Empirical, and Behavioral Perspectives

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Price Distribution

Price Analysis

Description

Product Specifications

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Similar Products You Might Like

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