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Finance and the Economics of Uncertainty
Gabrielle Demange and Guy Laroque
Guy Laroque: Professor, University College London, (2006-present)
Head of Laboratoire de Macro´economie, CREST, INSEE (2001-present).
Fellow of the Econometric Society (since 1979)
President of the Econometric Society (2002)
Hardcover: 296 pages
Publisher: Wiley-Blackwell (January 6, 2006)
Language: English
This book has two main goals. The first is to present the fundamental principles of risk allocation in a unified framework, assuming symmetric information. Models employed in this book are as simple as possible so as to underscore the relationships the techniques currently used in finance and the economic analysis of risk. The second goal is to look into information dissemination and thus identify some key limits of the basic models.
Review
"The authors discuss in a clear and motivated way some essential problems such as incompleteness, market viability or dissemination of information. Graduate students in economics will find this textbook a valuable supplement to the extensive literature on financial engineering." Christian Gourieroux, Center of Research in Economics and Statistics in France
"Given the explosive growth of the finance literature, even well-trained microeconomists may feel left behind. They should be grateful to Demange and Laroque for giving them such a clear and unified picture of how financial instruments allocate risk in the economy." Bernard Salanie, Columbia University
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