How Long to Read The Economics of Continuous-Time Finance

How Long Does it Take to Read The Economics of Continuous-Time Finance?

It takes the average reader 10 hours and 43 minutes to read The Economics of Continuous-Time Finance by Bernard Dumas

Assuming a reading speed of 250 words per minute. Learn more

Description

An introduction to economic applications of the theory of continuous-time finance that strikes a balance between mathematical rigor and economic interpretation of financial market regularities. This book introduces the economic applications of the theory of continuous-time finance, with the goal of enabling the construction of realistic models, particularly those involving incomplete markets. Indeed, most recent applications of continuous-time finance aim to capture the imperfections and dysfunctions of financial markets—characteristics that became especially apparent during the market turmoil that started in 2008. The book begins by using discrete time to illustrate the basic mechanisms and introduce such notions as completeness, redundant pricing, and no arbitrage. It develops the continuous-time analog of those mechanisms and introduces the powerful tools of stochastic calculus. Going beyond other textbooks, the book then focuses on the study of markets in which some form of incompleteness, volatility, heterogeneity, friction, or behavioral subtlety arises. After presenting solutions methods for control problems and related partial differential equations, the text examines portfolio optimization and equilibrium in incomplete markets, interest rate and fixed-income modeling, and stochastic volatility. Finally, it presents models where investors form different beliefs or suffer frictions, form habits, or have recursive utilities, studying the effects not only on optimal portfolio choices but also on equilibrium, or the price of primitive securities. The book strikes a balance between mathematical rigor and the need for economic interpretation of financial market regularities, although with an emphasis on the latter.

How long is The Economics of Continuous-Time Finance?

The Economics of Continuous-Time Finance by Bernard Dumas is 641 pages long, and a total of 160,891 words.

This makes it 216% the length of the average book. It also has 197% more words than the average book.

How Long Does it Take to Read The Economics of Continuous-Time Finance Aloud?

The average oral reading speed is 183 words per minute. This means it takes 14 hours and 39 minutes to read The Economics of Continuous-Time Finance aloud.

What Reading Level is The Economics of Continuous-Time Finance?

The Economics of Continuous-Time Finance is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The Economics of Continuous-Time Finance?

The Economics of Continuous-Time Finance by Bernard Dumas is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

To buy The Economics of Continuous-Time Finance by Bernard Dumas on Amazon click the button below.