The Fundamental Theorems

Robert Jarrow ()

Chapter Chapter 2 in Continuous-Time Asset Pricing Theory, 2021, pp 21-74 from Springer

Abstract: Abstract This chapter presents the three fundamental theorems of asset pricing. These theorems are the basis for pricing and hedging derivatives, characterizing price bubbles, and understanding the risk return relations among assets including the notion of systematic risk, idiosyncratic risk, portfolio optimization, and equilibrium pricing.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprfcp:978-3-030-74410-6_2

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DOI: 10.1007/978-3-030-74410-6_2

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