What people are saying - Write a review
We haven't found any reviews in the usual places.
FROM CONDITIONS OF CERTAINTY
Uncertainty and Human Capital Theory
CAPITAL ASSET PRICES WITH MARKETABILITY
16 other sections not shown
aggregate of corrective assumptions beliefs relative capital economics ceteris paribus Chapter constrained to hold defined denoted derived distributions of returns efficient frontier empirical tests equilibrium across occupational equilibrium conditions equilibrium prices examined expected utility Fund Separation Theorem homogeneous human capital theory hyperbola implies independent of prices individual specific internal rates investments in human j-th market portfolio marketability restrictions marketable and risky marketable assets mean-variance space minimum variance combinations moral hazard Moreover non-marketable assets non-marketable occupational assets non-negative fraction normative behavior null hypothesis Number occu occupational risk offering the highest Pareto efficient pational portfolio of marketable portfolio offering portfolio selection problem present value prices and risk rates of return relevant representative investor restricted economy returns to occupational risk averse risk preferences riskless asset risky assets short sell shown specific corrective portfolios stock values terminal value Three Fund Separation tion tional assets variance-covariance matrix vector virtual occupational assets Xj's