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Theory of Valuation (second edition)

Sudipto Bhattacharya|, George M Constantinides (eds)
World Scientific Publishing (July 2005)

The first edition of Theory of Valuation is a collection of important papers in the field of theoretical financial economics published from 1973 to 1986, and original accompanying essays contributed by eminent researchers including Robert C Merton, Edward C Prescott, Stephen A Ross and Joseph E Stiglitz. 

Since then, with the perspective of major theoretical strides in the field, the book has more than fulfilled its original expectations. The realisation that it remains today a compendium of classic articles and a must-read for any serious student in theoretical financial economics, has prompted the publication of a new edition. 

This second edition presents a summary statement of significant research in theoretical financial economics for both the specialist and non-specialist financial economist. It also provides material for PhD-level courses covering valuation theory, and elective reading for advanced Master's and undergraduate courses. 

In addition to reproducing the original contributions, this edition includes the seminal paper by Edward C Prescott and  Rajnish Mehra, 'Recursive Competitive Equilibrium: the case of homogeneous households', originally published in Econometrica in 1980.

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