A Simple Model of Capital Market Equilibrium with Incomplete Information

Простая модель равновесия рынка капитала при неполной информации
Robert C. Merton
1987-07-01
SCID:  54.1/evur76xa Discuss with AI
capital market equilibriumfinancial economicsincomplete informationprobability and optimizationuncertainty
Abstract (AI)
HD28 .M414 no. 1869-, 87,
Key Findings
1
Modern financial economics integrates probability and optimization mathematics, yielding significant practical applications despite theoretical complexity.
2
The field has evolved from anecdotal, rule-of-thumb practice focused on corporate financial management into a rigorous economic discipline over the past thirty years.
3
The paper situates modern financial economics as encompassing finance, micro investment theory, and economics of uncertainty, emphasizing interdisciplinary influence.
Research Object

Capital market under incomplete information

Research Subject

Equilibrium properties and implications of a simple capital market model when agents face incomplete information (market equilibrium under informational frictions)

Publication Details
Publication Date
1987-07-01
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Authors
Robert C. Merton
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