tailieunhanh - Asset Pricing under Asymmetric Information

.“This book develops the conceptual foundations required for the analysis of markets with asymmetric information, and uses them to provide a clear survey and synthesis of the theoretical literature on bubbles, market microstructure, crashes, and herding in financial markets. The book is not only useful to the beginner who requires a guide through the rapidly developing literature, but provides insight and perspective that the expert will also appreciate.” Michael Brennan Irwin and Goldyne Hearsh Professor of Banking and Finance at the University of California, Los Angeles, and Professor of Finance at the London Business School President of the American Finance. | OXFORD Asset Pricing under Asymmetric Information Bubbles Crashes Technical Analysis and Herding Markus K. Brunnermeier This book develops the conceptual foundations required for the analysis of markets with asymmetric information and uses them to provide a clear survey and synthesis of the theoretical literature on bubbles market microstructure crashes and herding in financial markets. The book is not only useful to the beginner who requires a guide through the rapidly developing literature but provides insight and perspective that the expert will also appreciate. Michael Brennan Irwin and Goldyne Hearsh Professor of Banking and Finance at the University of California Los Angeles and Professor of Finance at the London Business School President of the American Finance Association 1989 This book provides an excellent account of how bubbles and crashes and various other phenomena can occur. Traditional asset pricing theories have assumed symmetric information. Including asymmetric information radically alters the results that are obtained. The author takes a complex subject and presents it in a clear and concise manner. I strongly recommend it for anybody seriously interested in the theory of asset pricing. Franklin Allen Nippon Life Professor of Finance and Economics at the Wharton School University of Pennsylvania President of the American Finance Association 2000 This timely book provides an invaluable map for students and researchers navigating the literature on market microstructure and more generally on equilibrium with asymmetric information. It will become highly recommended reading for graduate courses in the economics of uncertainty and in financial economics. Hyun Song Shin Professor of Finance at the London School of Economics This page intentionally left blank .

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