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基本説明
Examines the development of the discipline during the twentieth century. Specially commissioned essays discuss scholars from the early part of the century to the Nobel Prize winners of the last decade including: Irving Fisher, Frederick Macaulay, Harry Markowitz and Fischer Black. Discussions of less familiar, though no less important, historical figures are also included.
Full Description
This second and final book in the exploration of the pioneers of financial economics examines the development of the discipline during the twentieth century. Specially commissioned essays discuss scholars from the early part of the century to the Nobel Prize winners of the last decade including: Irving Fisher, Frederick Macaulay, Harry Markowitz and Fischer Black. Discussions of less familiar, though no less important, historical figures are also included.The essays situate the emergence of modern financial economics - commonly referred to as modern finance - within the broader context of the intellectual development of economic science. The book begins by exploring contributions from the early part of the century. Succeeding chapters present the views of modern finance insiders and consider alternative perspectives, with sociological interpretations of the rise of modern financial economics. An outstanding volume of original analysis, Pioneers of Financial Economics: Volume 2 is an essential reference source of seminal contributions on the history of financial economics.
Students and scholars of finance, economics, sociology and intellectual history will find this comprehensive volume an invaluable addition to their library. The relatively non-technical nature of the book makes it accessible to professionals in the fields of finance and economics.
Contents
Contents:
Introduction
Geoffrey Poitras
PART I: EARLY CONTRIBUTIONS
1. A Brief History of Yield Approximations
Gabriel Hawawini and Ashok Vora
2. Early Contributors to Financial Management: Jeremiah Jenks, Edward Meade and William Ripley
Morgen Witzel
3. Irving Fisher and his Students as Financial Economists
Robert W. Dimand
4. Frederick R. Macaulay, Frank M. Redington and the Emergence of Modern Fixed Income Analysis
Geoffrey Poitras
PART II: THE MODERN FINANCE REVOLUTION: THE INSIDE PERSPECTIVE
5. A Portfolio of Nobel Laureates: Markowitz, Miller and Sharpe
Hal Varian
6. Merton Miller and Modern Finance
Rene M. Stulz
7. In Honor of the Nobel Laureates Robert C. Merton and Myron S. Scholes: A Partial Differential Equation that Changed the World
Robert A. Jarrow
8. Fischer Black
Robert C. Merton and Myron S. Scholes
9. The Efficient Markets Hypothesis: A Developmental Perspective
Kian-Guan Lim
PART III: ALTERNATIVE PERSPECTIVES ON THE REVOLUTION
10. The Role of the CAPM, the Modigliani-Miller Theorems and the Efficient Markets Hypothesis in the Rise of a Scientific Discipline
Franck Jovanovic
11. The Emergence of Option Pricing Theory
Donald MacKenzie
12. The History of Quantitative Risk Measurement
Elton G. McGoun
13. Understanding Financial Market Prices: Reality versus Rigor
Paul Davidson
Index