Book Description
This textbook takes the reader from the level of microeconomics principles through to modern asset pricing theory. Yvan Lengwiler elegantly links together issues that have in the past been the territory of general economic theorists on the one hand, and financial economists on the other.
In a sequence of carefully explained steps, the reader learns how the first welfare theorem is used in asset pricing theory. The book then moves on to explore Radner economies and von Neumann-Morgenstern decision theory, and this section culminates in Wilson's mutuality principle and the consumption-based CAPM. This is then put into a dynamic setting, and term structure models are introduced. The empirical shortcomings of the standard asset pricing models are extensively discussed, as is research from the last twenty years aimed at bringing theory in line with reality. The reader is brought up to date on the latest areas of concern, such as habit formation, the consequences of heterogeneity, demographic effects, changing tax regimes, market frictions, and the implications of prospect theory for asset pricing.
Aimed at masters or Ph.D. students specializing in financial economics, the book can also be used as a supplementary text for students of macroeconomics at this advanced level and will be of interest to finance professionals with a background in economics and mathematics. It includes problems (with solutions), and an accompanying website provides supporting material for lecturers.
Customer Reviews:
Excellent introduction to General Equiibrum Asset Pricing.......2005-06-23
This is not meant to be a textbook though there are some exercises following each chapter. The book is very easy to read and must be read as an uptodate introduction to General Equilibrium models and asset pricing as used in Financial Economics, Macro Economics etc. The ideas are developed without resorting to anything more than undergraduate level Linear Algebra, Optimization and Microeconomics. Reading this book has helped to put into perspective the financial economic theory learned over several courses and levels. The book should be compulsory reading for Graduate and Doctoral students.
Book Description
General Equilibrium Theory: An Introduction, presents one of the great achievements of modern economic analysis (recognized by two Nobel Prizes). General equilibrium analysis studies an economy as a whole, recognizing many interacting markets where prices in one market can affect supply and demand in another. The book is suitable for graduate students and advanced undergraduates in economics and mathematics. It starts with elementary models, presents mathematical preparation and more sophisticated treatments. The treatment emphasizes clarity and accessibility through use of examples and intuition.
Customer Reviews:
Very sloppy; a lot of serious mistakes.......2006-05-01
I agree with the previous reviewer that this book is an effort at a step-by-step approach to General Equilibrium for the student who cannot swallow everything all at once. Nevertheless, big flaws mar the exposition in a way that makes it very annoying to the expert and confusing to the point of uselessness for the beginner.
There are at least five big theorems -- and probably more -- in which key assumptions are misstated; or not stated at all; or assumptions are stated which are not needed and are never used. Signs are messed up in key parts of proofs, leading to no end of confusion.
In general, the sloppiness of the exposition is breathtaking. The sophisticated student will find himself able to prove the theorems more elegantly and correctly than the author and will be annoyed by the author's errors. The beginning student will often be completely lost in the proofs or statements which are incomprehensible (because they are wrong, but the student does not know that). Chapter 17 is a particularly egregious example.
This book is a stab at something that is sorely needed -- a readable, elementary, and accessible introduction to General Equilibrium. Unfortunately, Starr flubs it. A second edition of this book, with the mistakes eliminated, might be quite good. As it stands, I would not recommend it to anyone who does not want to spend hours of frustration correcting the author's sloppiness.
Concise introduction to the mechanics of General Economics.......2001-02-03
This textbook is a concise technical introduction to the mechanics of General Equilibrium, one of two main branches of economic theory. The text does not cover this extensive field in all its capacity. Instead, we have a step-by-step construction of the main models presented with great care for details, so that the reader can learn precision, careful modeling and all necessary details. Moreover, it's useful for people who have difficulty proving theorems.
There is a special bonus that might encourage you to buy the text. The fixed-point theorems are covered in a brilliant, really excellent way. There is no way around that tool in General Equilibrium, and while having difficulty with more sophisticated texts, I found Starr's book to be very helpful in this respect.
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Optima and Equilibria: An Introduction to Nonlinear Analysis (Graduate Texts in Mathematics)
Jean-Pierre Aubin
Manufacturer: Springer
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Applied Nonlinear Analysis
ASIN: 3540649832 |
Book Description
Progress in the theory of economic equilibria and in game theory has proceeded hand in hand with that of the mathematical tools used in the field, namely nonlinear analysis and, in particular, convex analysis. Jean-Pierre Aubin, one of the leading specialists in nonlinear analysis and its application to economics, has written a rigorous and concise - yet still elementary and self-contained - textbook providing the mathematical tools needed to study optima and equilibria, as solutions to problems, arising in economics, management sciences, operations research, cooperative and non-cooperative games, fuzzy games etc. It begins with the foundations of optimization theory, and mathematical programming, and in particular convex and nonsmooth analysis. Nonlinear analysis is then presented, first game-theoretically, then in the framework of set valued analysis. These results are then applied to the main classes of economic equilibria. The book contains numerous exercises and problems: the latter allow the reader to venture into areas of nonlinear analysis that lie beyond the scope of the book and of most graduate courses.
Book Description
The book provides an introduction to rigorous general equilibrium analysis for non specialist students. It fills the gap that exists between the classic high-level texts and the limited presentation of the theory in terms of Edgeworth box diagrams.
Customer Reviews:
Great introductory study!!.......2004-03-02
Being a student of Anjan I was taught this book in person at his class lectures. It is an excellent introduction to General Eqilibrium Analysis with adequate mathematical coverage of the topics. Highly recommended by me fo someone who wants an introduct to General equilibrium.
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Equilibrium: Introduction to Equilibrium in Economics (Critical Ideas in Economics Series)
Manufacturer: Edward Elgar Pub
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ASIN: 1858989280 |
Book Description
The concept of equilibrium is of enormous significance in economics and is central to economic analysis. Volume I provides historical perspectives on the origins, development and criticisms of the idea of economic equilibrium and explains the meaning of modern equilibrium theory and the methods and techniques that are used. Volume II presents the classic literature on perfectly competitive equilibrium and the important models that explore equilibrium in imperfectly competitive markets. Volume III reveals the variety of recent developments and applications of the equilibrium concept, including stationary, temporary, underemployment, growth, rational expectations, Bayesian, and cooperative and non-cooperative game theoretic equilibrium.
This important and comprehensive reference collection is essential reading for all microeconomic and macroeconomic theorists and students.
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Introduction into Capital Theory: A Neo-Austrian Perspective
Gunter Stephan
Manufacturer: Springer
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ASIN: 3540593500 |
Book Description
Capital theory is a cornerstone of modern economics. Its ideas are fundamental for dynamic equilibrium theory and its concepts are applied in many branches of economics like game theory, resource and environmental economics, although this may not be recognized on a first glance. In this monograph, an approach is presented, which allows to derive important results of capital theory in a coherent and readily accessible framework. A special emphasis is given on infinite horizon and overlapping generations economics. Irreversibility of time, or the failure of the market system appear in a different light if an infinite horizon framework is applied. To bridge the gap between pure and applied economic theory, the structure of our theoretical approach is integrated in a computable general equilibrium model.
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Introduction to Dynamic Macroeconomic Theory: An Overlapping Generations Approach
George McCandless , and
Neil Wallace
Manufacturer: Harvard University Press
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Exercises in Dynamic Macroeconomic Theory
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Recursive Macroeconomic Theory, 2nd Edition
ASIN: 0674461118 |
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Smart Marketing (Smart Things to Know About (Stay Smart!) Series)
John L. Mariotti
Manufacturer: Capstone
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ASIN: 1841125857 |
Book Description
Most people think that marketing has entered a new era thanks to the Internet, e-commerce and the worldwide explosion in communications and computing infrastructure. They're probably right, but smart marketers know that even in the new economy the fundamentals of marketing are as valid as ever.
Smart marketers are up to speed with developments in technology. The smartest of all know that people are still people and relationship matter a lot - especially in marketing. Customers are people with motives, emotions, needs and wants, and smart marketers stay close to them.
If you really want to be one of the top marketers in the new economy this is the right book for you. Smart Marketing gives you everything you need to know to stay ahead of the field. At the end of it you will understand the five smartest things to know about marketing:
* You must have a plan * Get close to your customers * Do your homework * Remember relationships * Use the speed and reach of technology
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Smart Things to Know About, Brands & Branding
John L. Mariotti
Manufacturer: Capstone
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Binding: Paperback
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The 22 Immutable Laws of Branding
ASIN: 1841120391 |
Book Description
The rules of branding are changing by the minute - smart advice to keep yours on top.
Average customer rating:
- IDEAL STARTER INFORMATION, PLUS STRATEGY NUGGETS
- Very basic
- A Great book for the E-Commerce
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Smart Things to Know About, E-Commerce
Michael J. Cunningham
Manufacturer: Capstone
ProductGroup: Book
Binding: Paperback
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ASIN: 1841120405 |
Book Description
A distilled summary of everything you always wanted to know about the world of e-business.
Customer Reviews:
IDEAL STARTER INFORMATION, PLUS STRATEGY NUGGETS.......2001-05-22
This book contains all the the neophite to e-commerce needs to build a strategy from inside the organization. The history and background of the Internet are captured in a very easy and friendly read. Cunningham takes the reader from the basics through to "how to make it happen" in a pleasing and fast moving format. Sprinkled liberally throughout the book are very useful hints, tips and actions for those trying to get their organziation to move forward with e-business technologies. An excellent and easy read. For a more detailed read, try his book on B2B.
Very basic.......2001-04-04
The Author goes straight forward and considers all relevent issues concerning the web. Its very easy to read and summaries occur twice on every single page. It hardly covers any topic in depth. His proposals concerning migration into the e-bizz are shallow and most of them are very general without authentic examples. This book is fast to read through, but the useful information start in the thrid chapter and sum up to a single line per chapter. I am also missing new and detailed proposals and inspirations, could be written some five years ago.
A Great book for the E-Commerce.......2000-05-04
This book has been written as a comprehensive, fast and entertaining read on a complex subject. The book provides an integrated tour of the major business, technology and dramatic work process changes required for successful E-commerce solutions. The text is full of examples, quotes, strategies (that have worked for many companies and organizations), that should make learning and applying what others have done relevant for the reader. Over all a good book .
Average customer rating:
- A "must have" for your bookshelf--great for browsing too!
- Smart Marketing in One Evening
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Smart Things to Know About, Marketing
John Mariotti
Manufacturer: Capstone
ProductGroup: Book
Binding: Paperback
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ASIN: 1841120952 |
Book Description
The five smartest things to know about marketing at the speed of light in the new economy.
Customer Reviews:
A "must have" for your bookshelf--great for browsing too!.......2001-04-22
This book was written for the aspiring professional to find a little something about nearly everything in marketing--a task that might take a dozen or more books.
It was written just before the dot-com meltdown and the e-commerce crash, but predicted both. Marketing is so familiar that it seems "easy"--but it isn't. Just open the book anywhere and read a few pages--flip around--you'll find something useful, fast. I guarantee it.
It was also written to emphasize the "smartest things to know" for anyone dealing with marketing or working in marketing. Keeping it as concise as possible made it necessary to be brief on many subjects, but there are experts quoted throughout the book to provide more detail.
I hope you enjoy reading it as much as I enjoyed writing it.
Smart Marketing in One Evening.......2001-02-18
John Mariotti has written his best book yet. It is refreshing to complete an entire marketing course in one evening. His depth of knowledge in the subject covered and his common sense approach will hold your attention as you read the text. The smart quotes, people and voices hold interest and will be recalled quickly. The Killer questions and answers to some of the tougher questions are addressed from years of research and tried applications. John Mariotti served the theme of this book well. He provided opportunities for the reader to become a smart marketer and through their own applications of learning--SELL!! .
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Smart Things to Know About Selling
Ros Jay
Manufacturer: Capstone Ltd
ProductGroup: Book
Binding: Paperback
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ASIN: 1841125164 |
Book Description
A step-by-step guide to becoming a master of persuasion
Smart Things to Know About Selling dissects the art and science of selling for sales professionals and "civilians" alike. The book provides powerful lessons on specific topics, including the psychology of selling; what makes customers tick; developing sales strategies; the art of listening; making the pitch; closing the deal; writing a winning sales proposal; and much more. It also provides killer techniques for persuading prospects to "buy," whatever the goods. Not only does author Ros Jay take readers under the skin of the selling process, she also offers readers, in every field of endeavor, a step-by-step approach to becoming a sales master. This book follows the format of the successful Smart Things to Know series and offers readers step-by-step techniques for selling in today's market.
Ros Jay (Devon, UK) is a marketing and communications specialist and the author of several critically acclaimed books on marketing and sales, including Smart Things to Know About Customers (1-84112-037-5), Profitable Direct Marketing, The Essential Marketing Sourcebook, and The Seven Deadly Skills of Management.
Books:
- One Big Happy: None of This Fun Is My Fault! (One Big Happy)
- Optimization in Economics and Finance: Some Advances in Non-Linear, Dynamic, Multi-Criteria and Stochastic Models (Dynamic Modeling and Econometrics in Economics and Finance)
- Perfect Phrases for Setting Performance Goals : Hundreds of Ready-to-Use Goals for Any Performance Plan or Review
- Principles of Marketing, Activebook 2.0
- Prohibition and Prosperity
- Protect Your Estate: Definitive Strategies for Estate and Wealth Planning from the Leading Experts
- Rare Treasure: Mary Anning and Her Remarkable Discoveries (Rare Treasure)
- Restaurant Basics: Why Guests Don't Come Back...and What You Can Do About It
- Rich Dad's Cashflow Quadrant: Employee, Self-Employed, Business Owner, or Investor...Which Is the Best Quadrant for You? (Rich Dad's)
- Scalawag: A Bughouse Book - Volume 3 (Bughouse)
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