The Capital Asset Pricing Model in the 21st Century

by Haim Levy

Book Overview

The Capital Asset Pricing Model (CAPM) and the mean-variance (M-V) rule, which are based on classic expected utility theory, have been heavily criticized theoretically and empirically. The advent of behavioral economics, prospect theory and other psychology-minded approaches in finance challenges the rational investor model from which CAPM and M-V derive. Haim Levy argues that the tension between the classic financial models and behavioral economics...

• Format: Paperback
• Language: English
• ISBN: 052118651X
• ISBN13: 9780521186513
• Release Date: October 2011
• Publisher: Cambridge University Press
• Length: 456 Pages
• Weight: 1.35 lbs.
• Dimensions: 0.9" x 6.0" x 9.0"