Journal of Economic Literature Vol. 46 No. 1 2008
Book Reviews
Abstract
Halla Yang of Harvard University reviews “Investors and Markets: Portfolio Choices, Asset Prices, and Investment Advice” by William F. Sharpe,. The EconLit Abstract of the reviewed work begins “Explores the effects of investors interacting in capital markets and the implications for those who advise individuals concerning savings and investment decisions. Presents the fundamental ideas of asset pricing in a one-period (two-date) equilibrium setting in which investors agree on the probabilities of alternative future states of the world. Considers investors' preferences. Analyzes the characteristics of equilibrium and introduces the concept of a complete market. Examines the characteristics of equilibrium and optimal portfolio choice. Confronts situations in which people disagree about the likelihood of different future outcomes. Discusses investment products. Presents advice about investment decisions. Sharpe is STANCO 25 Professor of Finance, Emeritus, at the Graduate School of Business, Stanford University. Index.”
- DOI
- 10.1257/jel.46.1.151.r8
- Volume
- 46
- Issue
- 1
- Pages
- 170-172
- Language
- en
- Sources
- crossref