A Simple Model of Capital Market Equilibrium with Incomplete Information

# A Simple Model of Capital Market Equilibrium with Incomplete Information > OpenAlex Metadata Hub · https://openalex.org/W1999918735 ## Bibliographic - **DOI:** 10.1111/j.1540-6261.1987.tb04565.x - **Year:** 1987 - **Citations:** 5785 - **Open Access:** Yes (bronze) - **License:** — - **Source:** https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/j.1540-6261.1987.tb04565.x ## Authors - Robert C. Merton ## Abstract The sphere of modern financial economics encompases finance, micro investment theory and much of the economics of uncertainty. As is evident from its influence on other branches of economics including public finance, industrial organization and monetary theory, the boundaries of this sphere are both permeable and flexible. The complex interactions of time and uncertainty guarantee intellectual challenge and intrinsic excitement to the study of financial economics. Indeed, the mathematics of the subject contain some of the most interesting applications of probability and optimization theory. But for all its mathematical refinement, the research has nevertheless had a direct and significant influence on practice. It was not always thus. Thirty years ago, finance theory was little more than a collection of anecdotes, rules of thumb, and manipulations of accounting data with an almost exclusive focus on corporate financial management. There is no need in this meeting of the guild to recount the subsequent evolution from this conceptual potpourri to a rigorous economic ## Keywords Citation, Prologue, Simple (philosophy), Mathematical economics, Economics, Library science, Computer science, Philosophy, History, Epistemology ## Concepts - Citation - Prologue - Simple (philosophy) - Mathematical economics - Economics - Library science - Computer science - Philosophy - History - Epistemology - Archaeology --- *Metadata only — full text not imported unless Open Access license permits.*

Bài “A Simple Model of Capital Market Equilibrium with Incomplete Information” được TradingBase chuyển thành Knowledge Product cho trader — không phải trang đọc abstract OpenAlex. Tóm lược học thuật (đã diễn giải): The sphere of modern financial economics encompases finance, micro investment theory and much of the economics of uncertainty. As is evident from its influence on other branches of economics including public finance, industrial organization and monetary theory, the boundaries of this sphere are both permeable and flexible. The complex interactions of time and uncertainty guarantee intellectual challenge and intrinsic excitement to the study of financial economics. Indeed, the mathematics of the subject contain some of the most interesting applications of probability and optimization theory. But for all its mathematical refinement, the research has nevertheless had a direct and significant influence on practice. It was not always thus. Thirty years ago, finance theory was little more than a collection of anecdotes, rules of thumb, and manipulations of accounting data with an almost exclus… Phần Trading Insights bên dưới nối nghiên cứu với Forex, vàng, USD, lãi suất và risk regime — để bạn đưa vào journal và playbook. Metadata DOI/OA chỉ là rail tham chiếu; nội dung chính là summary, takeaways và ứng dụng thị trường do Content Factory sinh.