Â«Asset Pricing, Revised EditionÂ» (0691121370)

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John H. Cochrane,

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Every day, the financial markets bravely price trillions of dollars in such risky securities as stocks, bonds, options, futures, and derivatives. The systematic determination of their values â€“ asset pricing â€“ has developed dramatically in the last few years due to advances in financial theory and econometrics. In one of the most highly anticipated books in financial economics, John Cochrane unifies and brings this science up to date for the benefit of advanced students and professionals.

Cochrane traces the pricing of all assets back to a single idea â€“ price equals expected discounted payoff â€“ that captures the macroeconomic risks underlying each security's value. By using a single, stochastic discount factor rather than a separate set of tricks for each asset class, Cochrane builds a unified account of modern asset pricing. He presents applications to stocks, bonds, and options. Each model â€“ consumption-based, CAPM, multifactor, term structure, and option pricing â€“ is derived as a different specification of the discount factor.

The discount factor framework also leads to a state-space geometry for mean-variance frontiers and asset pricing models. It puts payoffs in different states of nature on the axes rather than mean and variance of return, leading to a new and conveniently linear geometrical representation of asset pricing ideas.

Cochrane approaches empirical work with the Generalized Method of Moments, which studies sample average prices and discounted payoffs to determine whether price does equal expected discounted payoff. He translates between the discount factor, GMM, and state-space language and the beta, mean-variance, and regression language common in empirical work and earlier theory. The book also includes a review of recent empirical work on return predictability, value and other puzzles in the cross section, and equity premium puzzles and their resolution.

Written to be a summary for academics and professionals as well as a textbook for advanced graduate students, this book condenses and advances recent scholarship in financial economics.

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	The Future of Pricing: How Airline Ticket Pricing Has Inspired a Revolution The Future of PricingPalgrave Macmillan \| 2007-10-16 \| ISBN: 0230600190 \| 208 pages \| PDF \| 1,1 MBA story about science, technology, and people, The Future of Pricing provides an inside look at how airlines price tickets and how practices d ...
	Economics/Finances Credit Derivatives Pricing Models: Model, Pricing and Implementation (repost) Philipp J. Schönbucher, "Credit Derivatives Pricing Models: Model, Pricing and Implementation" Wiley \| 2003 \| ISBN: 0470842911 \| 600 pages \| PDF \| 13,2 MB ince its inception, the market for credit derivatives has shown impressive growth ...
	Science/Engineering Credit Derivatives Pricing Models: Model, Pricing and Implementation The credit derivatives market is booming and, for the first time, expanding into the banking sector which previously has had very little exposure to quantitative modeling. This phenomenon has forced a large number of professionals to confro ...
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	Â«Code Complete, Second EditionÂ» Steve McConnell, Â«Code Complete, Second EditionÂ»Microsoft Press \| ISBN 0735619670 \| 2003 Year \| PDF \| 5,55 Mb \| 912 Pages“For more than a decade, Steve McConnell, one of the premier authors and voices in the software community, ...
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