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Springer Finance Textbooks

Financial Markets Theory

Equilibrium, Efficiency and Information

Authors: Barucci, Emilio, Fontana, Claudio

  • Provides an accessible and rigorous introduction to classical and advanced financial economics
  • Contains more than two hundred exercises, many of which with full solutions
  • Presents the theory as well as an analysis of the empirical results
  • Discusses advanced asset pricing models in detail
  • A separate solutions manual is available for course instructors
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Buy this book

eBook $74.99
price for USA (gross)
  • ISBN 978-1-4471-7322-9
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $99.00
price for USA
  • ISBN 978-1-4471-7321-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this Textbook

This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises.
Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-classical preferences, noise traders and market microstructure.
This textbook is aimed at graduate students in mathematical finance and financial economics, but also serves as a useful reference for practitioners working in insurance, banking, investment funds and financial consultancy. Introducing necessary tools from microeconomic theory, this book is highly accessible and completely self-contained.


Advance praise for the second edition:

"Financial Markets Theory is comprehensive, rigorous, and yet highly accessible. With their second edition, Barucci and Fontana have set an even higher standard!"Darrell Duffie, Dean Witter Distinguished Professor of Finance, Graduate School of Business, Stanford University

"This comprehensive book is a great self-contained source for studying most major theoretical aspects of financial economics. What makes the book particularly useful is that it provides a lot of intuition, detailed discussions of empirical implications, a very thorough survey of the related literature, and many completely solved exercises. The second edition covers more ground and provides many more proofs, and it will be a handy addition to the library of every student or researcher in the field."Jaksa Cvitanic, Richard N. Merkin Professor of Mathematical Finance, Caltech

"The second edition of Financial Markets Theory by Barucci and Fontana is a superb achievement that knits together all aspects of modern finance theory, including financial markets microstructure, in a consistent and self-contained framework. Many exercises, together with their detailed solutions, make this book indispensable for serious students in finance."Michel Crouhy, Head of Research and Development, NATIXIS

About the authors

Emilio Barucci is full professor of financial mathematics at the Politecnico di Milano, Italy. He holds a Laurea degree from the University of Florence, Italy. His research interests include financial markets, portfolio optimization, and banking. He has extensive experience in working as an independent director in the financial sector.

Claudio Fontana is assistant professor at Paris Diderot University (Paris VII), France. He holds a Master of Advanced Studies in Finance from the ETH Zurich and the University of Zurich, Switzerland, and a PhD in Mathematical Sciences from the University of Padua, Italy. His research focuses on mathematical finance as well as the applications of stochastic processes.

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Table of contents (11 chapters)

  • Prerequisites

    Barucci, Emilio (et al.)

    Pages 1-14

  • Choices Under Risk

    Barucci, Emilio (et al.)

    Pages 15-54

  • Portfolio, Insurance and Saving Decisions

    Barucci, Emilio (et al.)

    Pages 55-121

  • General Equilibrium Theory and No-Arbitrage

    Barucci, Emilio (et al.)

    Pages 123-200

  • Factor Asset Pricing Models: CAPM and APT

    Barucci, Emilio (et al.)

    Pages 201-253

Buy this book

eBook $74.99
price for USA (gross)
  • ISBN 978-1-4471-7322-9
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $99.00
price for USA
  • ISBN 978-1-4471-7321-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Financial Markets Theory
Book Subtitle
Equilibrium, Efficiency and Information
Authors
Series Title
Springer Finance Textbooks
Copyright
2017
Publisher
Springer-Verlag London
Copyright Holder
Springer-Verlag London Ltd.
eBook ISBN
978-1-4471-7322-9
DOI
10.1007/978-1-4471-7322-9
Hardcover ISBN
978-1-4471-7321-2
Edition Number
2
Number of Pages
XV, 836
Number of Illustrations and Tables
16 b/w illustrations
Additional Information
Originally published under: Barucci, E.
Topics