Financial Innovation and Risk Sharing - Couverture souple

Allen, Franklin; Gale, Douglas

Couverture souple

ISBN 10 : 0262514656 ISBN 13 : 9780262514651

Editeur : MIT Press, 2003

Synopsis

Franklin Allen and Douglas Gale have contributed substantially to the study of financial innovation, developing economic models to address the question of whether the market provides institutions and opportunities for individuals to share risks efficiently. In this book they assemble some of their key papers along with a five-chapter overview that not only synthesizes their work but provides a historical and institutional review and a discussion of alternative approaches as well. The lengthy overview surveys the authors' approach to financial innovation, principally their development of a basic theory of risk sharing in an economy with incomplete markets. The first two chapters summarize the history of innovation and illustrate the types of innovation, innovators, and motives for innovation. Chapters three and four look at industrial organization approaches to innovation and outline the authors' theory. The fifth chapter discusses other approaches and an agenda for future research.

A propos du livre

À propos des auteurs

Franklin Allen is Professor of Finance and Economics and Director of the Brevan Howard Centre at Imperial College, London.

Douglas Gale is Professor of Economics at New York University.

Détails de l'édition

• Éditeur: MIT Press
• Date d'édition: 2003
• Langue: anglais
• ISBN 10: 0262514656
• ISBN 13: 9780262514651
• Reliure: Broché
• Nombre de pages: 390
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible