Intermediate Financial Theory 2nd Edition

Intermediate Financial Theory, Second Edition

Jean-Pierre Danthine and John B. Donaldson

“Intermediate Financial Theory, Second Edition is an excellent book that introduces financial asset pricing theory as a natural extension of microeconomic and general equilibrium theory. The exposition of classic and recent results is clear, thorough and accessible to any economist or graduate student who has a good grounding in microeconomic theory. Having mastered this material the reader is well equipped to tackle the many variations of asset pricing models in the literature.”
― Frank Milne, Professor of Economics and Finance, Queen’s University, Ontario, Canada

”Intermediate Financial Theory, Second Edition is ideally suited to students wishing to gain a deeper understanding of the basic concepts of financial economics beyond those presented in a typical MBA program without having to deal with unnecessary mathematical details. The exposition is superb and sure to greatly enrich the reader’s knowledge of the subject. The book, written by two of the profession’s leading experts, is unique.”
― Rajnish Mehra, Professor of Finance, University of California, Santa Barbara, USA

Intermediate Financial Theory, Second Edition continues the tradition of providing clear and concise descriptions of the new and classic concepts in financial theory. Professors Danthine and Donaldson keep the theory accessible by requiring very little mathematical background and instead focusing on clear explanations of key concepts.

Intermediate Financial Theory, Second Edition includes a new structure, emphasizing the distinction between the equilibrium and the arbitrage perspective on valuation and pricing, as well as a completely new chapter on asset management for the long-term investor.

Jean-Pierre Danthine is Professor of Economics and Finance at the University of Lausanne, Switzerland, and Director of the International Center for Financial Asset Management and Engineering, Lausanne and Geneva, Switzerland.

John B. Donaldson is the Mario J. Gabelli Professor of Finance at Columbia Business School, New York, USA.