Bøker av Michael G. Allingham

Aimed at students of economic theory and finance, this book examines the relation between the prices prevailing in the markets and the characteristics of the various market participants. It demonstrates how prices are formed, how they change and other properties of markets.

A text using the concept of arbitrage to value securities, that is to construct the elements of financial economics. Divided into three parts, the book develops the foundations for the study, applies the basic theorem in a single-period setting and extends the discussion to a many-period setting.