download process

The Capital Asset Pricing Model in the 21st Century - Haim Levy

Not Available

This file is no longer available on Tradebit.

Pay for The Capital Asset Pricing Model in the 21st Century - Haim Levy
5.025 MB File

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.

Author: Levy, Haim
Publisher: Cambridge University Press
Illustration: N
Language: ENG
Title: The Capital Asset Pricing Model in the 21st Century
Pages: 00456 (Encrypted PDF)
On Sale: 2011-10-31
SKU-13/ISBN: 9781107006713
Category: BUSINESS & ECONOMICS / Finance / General
Category: Business & Economics : Accounting - Financial


(ID 160734565)

File Data:

Contact Seller:
ebook-reader, US, Member since 09/08/2010

URL:

Embed:
Create JavaScript Mobile Tag Widgets for your homepage

More Files From This User

Related Files


Tradebit Reviews

Tradebit is the worlds largest marketplace for digital files, with over 2.5 million satisfied customers and millions of digital products. Online for over 12 years, Tradebit is the best place to find files like music, video tutorials, repair manuals, and more. If you're curious about how much our users love Tradebit, read reviews from real buyers!