In the 2nd edition of Asset Pricing and Portfolio Choice Theory, Kerry E. Back offers a concise yet comprehensive introduction to and overview of asset pricing. Intended as a textbook for asset pricing theory courses at the Ph.D. or Masters in Quantitative Finance level with extensive exercises and a solutions manual available for professors, the book is also an essential reference for financial researchers and professionals, as it includes detailed proofs and calculations as section appendices. The first two parts of the book explain portfolio choice and asset pricing theory in single-period, discrete-time, and continuous-time models. For valuation, the focus throughout is on stochastic discount factors and their properties. A section on derivative securities covers the usual derivatives (options, forwards and futures, and term structure models) and also applications of perpetual options to corporate debt, real options, and optimal irreversible investment. A chapter on "explaining puzzles" and the last part of the book provide introductions to a number of additional current topics in asset pricing research, including rare disasters, long-run risks, external and internal habits, asymmetric and incomplete information, heterogeneous beliefs, and non-expected-utility preferences. Each chapter includes a "Notes and References" section providing additional pathways to the literature. Each chapter also includes extensive exercises.
This book covers the classical results on single-period, discrete-time, and continuous-time models of portfolio choice and asset pricing. It also treats asymmetric information, production models, various proposed explanations for the equity premium puzzle, and topics important for behavioral finance.
In the 2nd edition of Asset Pricing and Portfolio Choice Theory, Kerry E. Back offers a concise yet comprehensive introduction to and overview of asset pricing. Intended as a textbook for asset pricing theory courses at the Ph.D. or Masters in Quantitative Finance level with extensive exercises and a solutions manual available for professors, the book is also an essential reference for financial researchers and professionals, as it includes detailed proofs and calculations as section appendices. The first two parts of the book explain portfolio choice and asset pricing theory in single-period, discrete-time, and continuous-time models. For valuation, the focus throughout is on stochastic discount factors and their properties. A section on derivative securities covers the usual derivatives (options, forwards and futures, and term structure models) and also applications of perpetual options to corporate debt, real options, and optimal irreversible investment. A chapter on "explaining puzzles" and the last part of the book provide introductions to a number of additional current topics in asset pricing research, including rare disasters, long-run risks, external and internal habits, asymmetric and incomplete information, heterogeneous beliefs, and non-expected-utility preferences. Each chapter includes a "Notes and References" section providing additional pathways to the literature. Each chapter also includes extensive exercises.
Optical microcavities are structures that enable confinement of light to microscale volumes. The universal importance of these structures has made them indispensable to a wide range of fields. This important book describes the many applications and the related physics, providing both a review and a tutorial of key subjects by leading researchers from each field. The topics include cavity QED and quantum information, nanophotonics and nanostructure interactions, wavelength switching and modulation in optical communications, optical chaos and biosensors.
In Asset Pricing and Portfolio Choice Theory, Kerry E. Back at last offers what is at once a welcoming introduction to and a comprehensive overview of asset pricing. Useful as a textbook for graduate students in finance, with extensive exercises and a solutions manual available for professors, the book will also serve as an essential reference for scholars and professionals, as it includes detailed proofs and calculations as section appendices. Topics covered include the classical results on single-period, discrete-time, and continuous-time models, as well as various proposed explanations for the equity premium and risk-free rate puzzles and chapters on heterogeneous beliefs, asymmetric information, non-expected utility preferences, and production models. The book includes numerous exercises designed to provide practice with the concepts and to introduce additional results. Each chapter concludes with a notes and references section that supplies pathways to additional developments in the field.
Specialists give veterans the tools to conquer chronic pain and substance use in this to-the-point guide. For many veterans, life after military service includes what feels like an ongoing mission to disguise or ignore pain. Too often this mission is both secret and lonely—and undertaken without the support or even the knowledge of those around them. Some strategies to manage physical, social, and psychological pain are only short-term fixes. Self-medicating, substance use, and bottling up emotions don't work as part of civilian life. Written by professional practitioners in trauma, substance use disorder, pain management, and rehabilitation who are also members of the veteran community, End Your Covert Mission is an approachable, non-judgmental guide for stopping that self-imposed mission and developing solutions that lead to a healthier and happier life. The book includes features that help readers discover a path to recovery: - examples of the types of pain veterans may experience - language for admitting, describing, and sharing these various types of pain - personal stories from veterans - effective approaches for connecting with other veterans and family members - methods to address active substance use - ways to identify and manage risk factors for future substance use disorders
The gumshoe go-to?revised and updated. Easy-to-use and fantastically inclusive, this is the book on private investigation, whether you want to establish yourself as a professional or just use some of the tools of a P.I. for your own business. You?ll get the low-down on pre-employment research, tenant screening, adoption searches, safeguarding yourself from investigation, and much more. ?Completely revised with all-new chapters on skip tracing and due diligence searches ?Skills and techniques for average citizens, as well as professionals ?Includes the most useful?and little-known?databases
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