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Focusing on the principles of modern finance, this work highlights the no arbitrage principle and risk-neutral pricing, developed by Stephen Ross and John Cox. It argues that these concepts are essential to understanding market efficiency, where prices reflect all available information. The author emphasizes that attempts to exploit market inefficiencies using accessible information are unlikely to succeed, reinforcing the idea that there are no free lunches in financial markets. This book serves as a foundational text for grasping contemporary financial theories.
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Neoclassical Finance, Stephen A Ross
- Language
- Released
- 2004
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- Title
- Neoclassical Finance
- Language
- English
- Authors
- Stephen A Ross
- Publisher
- Princeton University Press
- Publisher
- 2004
- Format
- Hardcover
- Pages
- 102
- ISBN13
- 9780691121383
- Category
- Business and Economics
- Description
- Focusing on the principles of modern finance, this work highlights the no arbitrage principle and risk-neutral pricing, developed by Stephen Ross and John Cox. It argues that these concepts are essential to understanding market efficiency, where prices reflect all available information. The author emphasizes that attempts to exploit market inefficiencies using accessible information are unlikely to succeed, reinforcing the idea that there are no free lunches in financial markets. This book serves as a foundational text for grasping contemporary financial theories.