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Asset pricing theory abounds with elegant mathematical models. The logic is so compelling that the models are widely used in policy, from banking, investments, and corporate finance to government. To what extent, however, can these models predict what actually happens in financial markets? In The Paradox of Asset Pricing, a leading financial researcher argues forcefully that the empirical record is weak at best. Peter Bossaerts undertakes the most thorough, technically sound investigation in many years into the scientific character of the pricing of financial assets. He probes this conundrum by modeling a decidedly volatile phenomenon that, he says, the world of finance has forgotten in its enthusiasm for the efficient markets hypothesis--speculation. Bossaerts writes that the existing empirical evidence may be tainted by the assumptions needed to make sense of historical field data or by reanalysis of the same data. To address the first problem, he demonstrates that one central assumption--that markets are efficient processors of information, that risk is a knowable quantity, and so on--can be relaxed substantially while retaining core elements of the existing methodology. The new approach brings novel insights to old data. As for the second problem, he proposes that asset pricing theory be studied through experiments in which subjects trade purposely designed assets for real money. This book will be welcomed by finance scholars and all those math--and statistics-minded readers interested in knowing whether there is science beyond the mathematics of finance. This book provided the foundation for subsequent journal articles that won two prestigious awards: the 2003 Journal of Financial Markets Best Paper Award and the 2004 Goldman Sachs Asset Management Best Research Paper for the Review of Finance.

Market theory, Efficient --- Capital assets pricing model --- Efficient market theory --- Securities --- E-books --- 332.6 --- 305.91 --- AA / International- internationaal --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Investments --- Investment banking --- Capital market --- Stock exchanges --- Capital asset pricing model --- CAPM (Capital assets pricing model) --- Pricing model, Capital assets --- Capital --- Finance --- Econometrie van de financiële activa. Portfolio allocation en management. CAPM. Bubbles --- Law and legislation --- Mathematical models --- Capital assets pricing model. --- Efficient market theory. --- Securities.

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The present book avoids the fantasy recipes that abound in technical analysis and focuses instead on those that are statistically correct and can be understood by newcomers as well as appreciated by professionals. The described protocols and techniques will prove invaluable in analyzing market behavior and assisting in trading decisions. The algorithms used in the technical analysis of financial markets have changed beyond recognition. This book offers a more efficient technical analysis – one that is not satisfied with protocols that just seem to be fine, but which requires that they are indeed fine, verifying this through simulations on the PC, serious statistical counts, and so on.

Economics, Mathematical. --- Economics. --- Finance -- Mathematical models. --- Finance --- Economics, Mathematical --- Business & Economics --- Banking --- Finance - General --- Investment & Speculation --- Mathematical models --- Capital market. --- Capital assets pricing model. --- Capital asset pricing model --- CAPM (Capital assets pricing model) --- Pricing model, Capital assets --- Capital markets --- Market, Capital --- Finance. --- Management. --- Macroeconomics. --- Finance, general. --- Macroeconomics/Monetary Economics//Financial Economics. --- Capital --- Investments --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Economics --- Administration --- Industrial relations --- Organization --- Funding --- Funds --- Currency question

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The 12 articles in this second of two parts condense recent advances on investment vehicles, performance measurement and evaluation, and risk management into a coherent springboard for future research. Written by world leaders in asset pricing research, they present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek authoritative perspectives and important details, this volume shows how the boundaries of asset pricing have expanded and at the same time have grown sharper and more inclusive.Offe

336.76 --- 658.15 --- Beurswezen. Geldmarkt. Valutamarkt. Binnenlandse geldmarkt. Valutamarkt --- Private financial management. Financial administration of enterprises --- 658.15 Private financial management. Financial administration of enterprises --- 336.76 Beurswezen. Geldmarkt. Valutamarkt. Binnenlandse geldmarkt. Valutamarkt --- Modèle de fixation du prix des actifs --- Asset pricing --- -Asset pricing --- Modèle de fixation du prix des actifs --- Capital assets pricing model --- Corporations --- Economics --- Finance --- 332 --- 305.91 --- 333.605 --- 339.4 --- 658.40 --- AA / International- internationaal --- NBB multivolumes --- Economic theory --- Political economy --- Social sciences --- Economic man --- Funding --- Funds --- Currency question --- Business finance --- Capitalization (Finance) --- Corporate finance --- Corporate financial management --- Corporation finance --- Financial analysis of corporations --- Financial management, Corporate --- Financial management of corporations --- Financial planning of corporations --- Managerial finance --- Going public (Securities) --- Capital asset pricing model --- CAPM (Capital assets pricing model) --- Pricing model, Capital assets --- Capital --- Investments --- Econometrie van de financiële activa. Portfolio allocation en management. CAPM. Bubbles --- Nieuwe financiële instrumenten --- Vermogensbeheer. Financiële analyse. Verspreiding van de beleggingsrisico's --- Financieel beheer van de bedrijven: algemeenheden --- Mathematical models --- Capital assets pricing model. --- Economics. --- Finance. --- Finances --- Economie politique --- Sociétés --- ELSEVIER-B EPUB-LIV-FT --- Corporations - Finance