{"product_id":"9789814417365","title":"Handbook Of The Fundamentals Of Financial Decision Making (In 2 Parts): In 2 Parts","description":"\u003cp\u003eThis handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.\u003c\/p\u003e\u003cp\u003ePart I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.\u003c\/p\u003e\u003cp\u003eA comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2\u003csup\u003end\u003c\/sup\u003e edition published in 2006).\u003c\/p\u003e\u003cb\u003eContents:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003ePart I: Decision Making Under Uncertainty:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cb\u003eSection A. Arbitrage and Asset Pricing:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eThe Arbitrage Theory of Capital Asset Pricing \u003ci\u003e(SA Ross)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Fundamental Theorem of Asset Pricing \u003ci\u003e(W Schachermayer)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eRisk Neutral Pricing \u003ci\u003e(W Schachermayer)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eUsing Tucker's Theorem of the Alternative to Provide a Framework for Proving Basic Arbitrage Results \u003ci\u003e(M Kallio and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003eSection B. Utility Theory:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eA General Theory of Subjective Probabilities and Expected Utilities \u003ci\u003e(P Fishburn)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eProspect Theory: An Analysis of Decisions Under Risk \u003ci\u003e(D Kahneman and A Tversky)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eProspect Theory: Much Ado About Nothing? \u003ci\u003e(M Levy and H Levy)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Data of Levy and Levy (2002) “Prospect Theory: Much Ado About Nothing?” Actually Support Prospect Theory \u003ci\u003e(PP Wakker)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eProspect Theory and Mean-Variance Analysis \u003ci\u003e(M Levy and H Levy)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eViolations of Cumulative Prospect Theory in Mixed Gambles with Moderate Probabilities \u003ci\u003e(G Baltussen, T Post and PV Vliet)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eTemporal von Neumann–Morgenstern and Induced Preferences \u003ci\u003e(DM Kreps and EL Porteus)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eSubstitution, Risk Aversion and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework \u003ci\u003e(LG Epstein and SE Zin)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eRisk Aversion and Expected Utility Theory: A Calibration Theorem \u003ci\u003e(M Rabin)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eNon-Expected Utility Theory \u003ci\u003e(M Machina)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eJudgment Under Uncertainty: Heuristics and Biases \u003ci\u003e(A Tversky and D Kahneman)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eChoices, Values, and Frames \u003ci\u003e(D Kahneman and A Tverskya)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003eSection C. Stochastic Dominance:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eThe Efficiency Analysis of Choices Involving Risk \u003ci\u003e(G Hanoch and H Levy)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eStochastic Dominance, Efficiency Criteria, and Efficient Portfolios: The Multi-Period Case \u003ci\u003e(H Levy)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003eSection D. Risk Aversion and Static Portfolio Theory:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eRisk Aversion in the Small and in the Large \u003ci\u003e(JW Pratt)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eUnivariate and Multivariate Measures of Risk Aversion and Risk Premiums \u003ci\u003e(Y Li and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Effect of Errors in Means, Variances, and Co-Variances on Optimal Portfolio Choice \u003ci\u003e(VK Chopra and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eCalculation of Investment Portfolios with Risk Free Borrowing and Lending \u003ci\u003e(WT Ziemba, C Parkan and R Brooks-Hill)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eComparison of Alternative Utility Functions in Portfolio Selection Problems \u003ci\u003e(JG Kallberg and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eCharacterizations of Optimal Portfolios by Univariate and Multivariate Risk Aversion \u003ci\u003e(Y Li and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eChoosing Investment Portfolios When the Returns Have Stable Distributions \u003ci\u003e(WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eCovariance Complexity and Rates of Return on Assets \u003ci\u003e(LC MacLean, ME Foster and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eAnomalies: Risk Aversion \u003ci\u003e(M Rabin and RH Thaler)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003ePart II: From Decision Making to Measurement and Dynamic Modeling:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cb\u003eSection E. Risk Measures:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eThe Innovest Austrian Pension Fund Planning Model InnoALM \u003ci\u003e(A Geyer and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eModified Risk Measures and Acceptance Sets \u003ci\u003e(RT Rockafellar and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eConvex Risk Measures: Basic Facts, Law Invariance and Beyond, Asymptotics for Large Portfolios \u003ci\u003e(H Föllmer and T Knispel)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eModeling and Optimization of Risk \u003ci\u003e(P Krokhmal, M Zabarankin and S Uryasev)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003eSection F. Dynamic Portfolio Theory and Asset Allocation:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eDEA-Based Firm Strengths and Market Efficiency in US and Japan \u003ci\u003e(C Edirisinghe, X Zhang and S-C Shyi)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eThe Kelly Strategy for Investing: Risk and Reward \u003ci\u003e(LC MacLean and WT Ziemba)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eReaching Goals by a Deadline: Digital Options and Continuous-Time Active Portfolio Management \u003ci\u003e(S Browne)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eBeating a Moving Target: Optimal Portfolio Strategies for Outperforming a Stochastic Benchmark \u003ci\u003e(S Browne)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eStochastic Differential Portfolio Games \u003ci\u003e(S Browne)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eFractional Kelly Strategies in Continuous Time: Recent Developments \u003ci\u003e(M Davis and S Lleo)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eGrowth-Optimal Investments and Numeraire Portfolios Under Transactions Costs \u003ci\u003e(W Bahsoun, IV Evstigneev and MI Taksar)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eA Multivariate Model of Strategic Asset Allocation \u003ci\u003e(JY Campbell, YL Chan \u0026amp; LM Viceira)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003cli\u003eMaximizing Capital Growth with Black Swan Protection \u003ci\u003e(EO Thorp and S Mizusawa)\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cb\u003eReadership:\u003c\/b\u003e Graduate students and researchers in finance and economics, financial decision making, financial engineering and financial modeling.\u003cbr\u003e\u003cb\u003eKey Features:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eDefinitive reference work on the fundamentals of financial decision making\u003c\/li\u003e\n\u003cli\u003eComplete collection of classic and new papers\u003c\/li\u003e\n\u003cli\u003eThorough treatment of the theory of financial decision making, static and dynamic portfolio theory, capital growth theory, utility theory and stochastic dominance\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"World Scientific Publishing Company, Incorporated","offers":[{"title":"Default Title","offer_id":47139927687408,"sku":"9789814417365","price":80.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9789814417365_p0.jpg?v=1763691462","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9789814417365","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}