Statistics: Decisions and Applications in Business and Economics

Levy, Haim

Ben-Horim, Moshe

Business & Money

Mcgraw-Hill College

Microscopic Simulation (MS) uses a computer to represent and keep track of individual ("microscopic") elements in order to investigate complex systems which are analytically intractable. A methodology that was developed to solve physics problems, MS has been used to study the relation between microscopic behavior and macroscopic phenomena in systems ranging from those of atomic particles, to cars, animals, and even humans. In finance, MS can help explain, among other things, the effects of various elements of investor behavior on market dynamics and asset pricing. It is these issues in particular, and the value of an MS approach to finance in general, that are the subjects of this book. The authors not only put their work in perspective by surveying traditional economic analyses of investor behavior, but they also briefly examine the use of MS in fields other than finance. Most models in economics and finance assume that investors are rational. However, experimental studies reveal systematic deviations from rational behavior. How can we determine the effect of investors' deviations from rational behavior on asset prices and market dynamics? By using Microscopic Simulation, a methodology originally developed by physicists for the investigation of complex systems, the authors are able to relax classical assumptions about investor behavior and to model it as empirically and experimentally observed. This rounded and judicious introduction to the application of MS in finance and economics reveals that many of the empirically-observed "puzzles" in finance can be explained by investors' quasi-rationality. Researchers use the book because it models heterogeneous investors, a group that has proven difficult to model. Being able to predict how people will invest and setting asset prices accordingly is inherently appealing, and the combination of computing power and statistical mechanics in this book makes such modeling possible. Because many finance researchers have backgrounds in physics, the material here is accessible.

Microscopic Simulation of Financial Markets: From Investor Behavior to Market Phenomena

Solomon, Sorin

Levy, Moshe

Economics

Academic Press

A textbook for students of corporate finance, capital budgeting, financial management, and financial theory. Blending theory and practice, it describes the practical applications of the modern theory of finance to realistic corporate decisions, made in uncertain environments, with particular reference to the allocation of the firm's long-term capital resources. This revised and updated edition (fourth was 1990) adds a new chapter on short-term working capital management. Annotation copyright Book News, Inc. Portland, Or.

Capital investment and financial decisions

Management & Leadership

Prentice/Hall International

Capital Investment and Financial Decisions

Finance

A textbook for students of corporate finance, capital budgeting, financial management, and financial theory. Blending theory and practice, it describes the practical applications of the modern theory of finance to realistic corporate decisions, made in uncertain environments, with particular reference to the allocation of the firm's long-term capital resources. This revised and updated edition (fourth was 1990) adds a new chapter on short-term working capital management.  A substantial revision of a bestseller by two prominent authors, this book focuses on the practical application of the modern theory of finance to realistic corporate decisions, with an emphasis on the allocation of a firm's long-term capital resources. Includes new chapters on short term working capital management and new examples throughout.  Offering a unique blend of theory and practice, Capital Investment and Financial Decisions describes the practical application of the modern theory of finance to realistic corporate decisions, made in uncertain environments, with particular reference to the allocation of the firm's long-term capital resources. In the fifth edition: A new chapter on short-term working capital management; real-world examples have been incorporated throughout the textbook to enhance the student's understanding of the material presented as well as increase the student's awareness of the material being discussed; consistent with the current low inflationary environment, inflation has been incorporated in the relevant chapters rather than an entire chapter being devoted to the topic; new problems and mini-cases have been added to every chapter; the relevant changes in the US tax code have been incorporated; the discussion of capital market theory has been updated to reflect current and ongoing research in this area; and boxed articles from the financial media are quoted, emphasizing the relevance of the studied material. Capital Investment and Financial Decisions, Fifth Edition, is for students of corporate finance, capital budgeting, financial management, and financial theory.

PRENTICE/HALL

A textbook for students of corporate finance, capital budgeting, financial management, and financial theory. Blending theory and practice, it describes the practical applications of the modern theory of finance to realistic corporate decisions, made in uncertain environments, with particular reference to the allocation of the firm's long-term capital resources. This revised and updated edition (fourth was 1990) adds a new chapter on short-term working capital management. Annotation copyright Book News, Inc. Portland, Or.

Sarnat, Marshall

Used book in good condition, due to its age it could contain normal signs of use

Portfolio and Investment Selection: Theory and Practice

Principles of Financial Management

Sarnat, M.

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