Individuals regularly make decisions to determine their consumption in future time periods, and most have income that varies over their lives. They initially consume from parental income before commencing work, whereupon their income normally increases until it peaks toward the end of their working life and then declines at retirement. An example of the income profile (It) for a consumer who lives until time T is shown by the solid line in Figure 1.1. When resources can be transferred between time periods the consumer can choose to smooth consumption expenditure (Xt) to make it look like the dashed line in the diagram
CONTENTS
1 Introduction
2 Investment decisions under certainty
3 Uncertainty and risk
4 Asset pricing models
5 Private insurance with asymmetric information
6 Derivative securities
7 Corporate finance
8 Project evaluation and the social discount rate
Notes
References
Author index
Subject index
CONTENTS
1 Introduction
2 Investment decisions under certainty
3 Uncertainty and risk
4 Asset pricing models
5 Private insurance with asymmetric information
6 Derivative securities
7 Corporate finance
8 Project evaluation and the social discount rate
Notes
References
Author index
Subject index
Páginas : 333
Peso : 2 mb.
Formato : PDF.
Edición : Primera
Año de Publicación : 2008
ISBN : 0-203-93202-1
Editorial : Routledge
Autor : Chris Jones
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