Game Theroy & Finance by Franklin Allen & Stephen Morris

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Game Theroy & Finance by Franklin Allen & Stephen Morris.pdf (97.14 KB, 需要: 2 个论坛币)

2012-7-31 22:12:30 上传

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关键词：Franklin Finance Stephen Morris Financ Stephen

楼主应该贴个目录，至少要给个简介吧。

jingchongyi 发表于 2012-7-31 22:17
楼主应该贴个目录，至少要给个简介吧。

This is a paper.  
Here's abstract:

Traditional finance theory based on the assumptions of symmetric
information and perfect and competitive markets has provided many
important insights.  These include the Modigliani and Miller Theorems,
the CAPM, the Efficient Markets Hypothesis and continuous time finance.
However, many empirical phenomena are difficult to reconcile with this
traditional framework.  Game theoretic techniques have allowed insights
into a number of these.  Many puzzles remain.  This paper argues that
recent advances in game theory concerned with higher order beliefs,
informational cascades and heterogeneous prior beliefs have the potential
to provide insights into some of these remaining puzzles.