The Economics of Financial Markets by Hendrik S. Houthakker

The Economics of Financial Markets

byHendrik S. Houthakker, Peter J. Williamson

Hardcover | April 30, 1999

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This book puts economics to work on the daily problems faced by investors, traders, speculators and brokers as they wrestle with increasingly complex financial markets. Drawing on data direct from the financial behavior of households, corporations, and governments, through to the prices ofindividual securities, the authors show how accessible but rigorous economics can help the players make sense of the hour-by-hour reality of the way financial markets move. Many of the twists and turns that might seem random at first sight are, they contend, rational and often predictable. Butinefficiencies do exist, and the authors also demonstrate how these can become unique profit opportunities. By bringing together information on the daily workings of financial markets with the concepts and tools of economics, Houthakker and Williamson have provided a valuable resource forpractitioners and students alike.

About The Author

Hendrik S. Houthakker is Professor of Economics at Harvard University. Peter J. Williamson is Dean of the MBA Program and Professor of Business Policy at the London School of Business.

Details & Specs

Title:The Economics of Financial MarketsFormat:HardcoverDimensions:376 pages, 9.49 × 6.5 × 1.22 inPublished:April 30, 1999Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:019504407X

ISBN - 13:9780195044072

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From Our Editors

The Economics of Financial Markets puts economics to work on the daily problems faced by investors, traders, speculators and brokers as they wrestle with increasingly diverse and complex financial markets. Drawing on data direct from the financial behavior of households, corporations, and governments, the authors show how accessible but rigorous economics can help in making sense of the financial markets (including those in equities, bonds, mutual funds, options and futures) and of the ways in which these markets are organized. The Economics of Financial Markets is for those who wish to look behind the daily financial headlines and understand what is driving the prices of bonds, stocks, options, futures and other instruments; how financial markets work; how to identify consistent patterns of market behavior; and how the complex jigsaw of institutions, financial intermediaries, trading places, speculators, hedgers, savers and investors fits together. It operates at that rare intersection of theory and practice where the study of intriguing patterns and phenomena ca

Editorial Reviews

"The Economics of Financial Markets is an outstanding book about financial markets....[IT] deserves to be a standard reference. It is an excellent choice for economists who would like to become acquainted with the economics of financial markets or for practitioners who want an overview offinancial markets. Based on Houthakker's lectures in an elective, undergraduate course at Harvard for economics majors, it also would be useful in a Master's level course and in a course with birght, diligent undergraduates."--Journal of Economic Literature