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Asset Pricing Theory (Princeton Series in Finance) by [Skiadas, Costis]
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Asset Pricing Theory (Princeton Series in Finance) Kindle Edition

3.8 out of 5 stars 5 customer reviews

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Length: 368 pages Enhanced Typesetting: Enabled Page Flip: Enabled
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Editorial Reviews

Review

"Costis Skiadas has hit a grand-slam with Asset Pricing Theory which fills a great void. It will speak to you in a well-designed, and thoughtful manner encouraging you to read a high-level and rigorous development of the subject regardless of your age, profession or position as economists, mathematicians, financial engineers, and physicists. I am adding it to my 'must read list' for my students and associates. I predict that Asset Pricing Theory will establish itself as a standard reference for many years to come, and this is the quality I admire--a quality that can only be born from experience. Read this book if you want to lead an organization, or lead the way."--Current Engineering Practice

"I am sure any ambitious student who has read it will be drawn into the field immediately. . . . I like the book very much and would recommend it for use in any serious asset pricing theory subject."--Qi Zeng, Economic Record

From the Back Cover

"Costis Skiadas has given us the definitive self-contained treatment of neoclassical asset pricing theory. There is nothing more rigorous, elegant, or thoughtful on the subject."--Darrell Duffie, Graduate School of Business, Stanford University

"Asset Pricing Theory is a significant contribution to the field because it fills a void and does so in a masterful way. It will be useful to economists, mathematicians, financial engineers, and physicists who wish to read a high-level and rigorous development of the subject. I predict that this book will remain a standard reference for many years to come."--George M. Constantinides, University of Chicago


Product Details

  • File Size: 14926 KB
  • Print Length: 368 pages
  • Publisher: Princeton University Press (February 9, 2009)
  • Publication Date: February 9, 2009
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B007BOBCQE
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Not Enabled
  • Lending: Not Enabled
  • Enhanced Typesetting: Enabled
  • Amazon Best Sellers Rank: #1,800,297 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

Format: Hardcover
This book is an excellent, in depth treatment of the field of financial economics. The book starts from first principles, namely the absence of arbitrage, and slowly builds upon them. It is concise, detailed, and represents the culmination of over 10 years of work. I highly recommend it to any student in Finance. Finally, I would like to disagree with the previous reviewer who thinks this book is `basic'. This is the only book, to my knowledge, that develops asset pricing theory in a general non-expected utility framework. Some of the theorems proven in this book could easily have appeared in academic journals. This is anything but a basic book, it represents the cutting edge in asset pricing.
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Format: Hardcover
This book is the frontier text for learning asset pricing theory from first principles. It will inform even experienced researchers about the fundamental assumptions necessary for deriving pricing implications from quite general, recursive, preferences. Any advanced doctoral student interested in finance, or the economics of uncertainty, will benefit from the in depth treatments of both decision theory and equilibrium in this text.
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Format: Hardcover
The title of this book should be rather "Discreet time financial economics theory". Those, who are expecting practical handbook on the valuation of derivatives securities will be disappointed. For this you have books (at BA/MA level)Options, Futures & Other Derivatives with Derivagem CD Value Package (includes Student Solutions Manual for Options, Futuresd Other Derivatives) or (at PhD level) Martingale Methods in Financial Modelling (Stochastic Modelling and Applied Probability) or (the one I recommend most) Dynamic Asset Pricing Theory, Third Edition. .

The book by Costis is a deep introduction to the foundations of the financial economics. I could easily recommend it as a textbook for the first part of financial economics course at MA/PhD level. Some more advanced topics like the recursive utility may be skipped at the first reading.

What I didn't like in the book was:
- Non-standard notation
- Pretty big number of non-crucial theorems (it looked like author tried to give every possible result)

What I liked:
- The consistency of the book
- The fact of covering Recursive Utility - most textbooks do not cover recursive utility in such a depth. I think this is big advantage of this book and the author (who is a leading scholar in this field) should center subsequent editions even more on the equilibrium analysis with recursive utility.
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Format: Hardcover
There were no surprises in the book Asset Pricing Theory. The book contains most of the topics one would expect from a Ph.D. level asset pricing text. It covers essential topics such as no-arbitrage and risk-return, but this book goes into a more rigorous treatment of the different topics. This book should provide good preparation for doctoral students interested in doing academic research.

As a note, this book is written with a more formal mathematical style. Having said that, the degree of technicality is somewhere between Cochrane's Asset Pricing and Duffie's Dynamic Asset Pricing Theory. In other words, a decent mathematical background is still necessary to read this book or else you probably won't enjoy it.
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Format: Kindle Edition
The Kindle version of this book is of extremely poor quality. It looks like trash.

In 2013, paying customers who fork over $40 (USD) for the electronic version of this book deserve more than a crappy HTML-ized version of the printed text where the equations do not scale properly or even line up with the baseline of surrounding text.

By flipping through the free sample provided above and comparing it with a copy of the print edition, one can quickly assess just how badly the publisher has wrecked the typesetting of the formulas by converting the text from native PDF to their own proprietary Kindle format. Only certain formats (PDF being foremost among them) can faithfully preserve all of the elegance and beauty that mathematical typesetting systems like LaTeX provide.

By refusing to purchase the electronic version, customers can send a strong message to the publisher that they will not accept an inferior product in order to accommodate their desire for digital rights management.

The "Kindle Replica" format is a potential solution to this problem as the latter is nothing more than a DRM-wrapped version of PDF.

Question to the publisher: why are you not offering a Kindle Replica version of this text, because if you did, I would purchase it immediately.
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