The Portfolio Theorists: von Neumann, Savage, Arrow and Markowitz

Hardcover | January 15, 2012

byColin Read

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Readexamines probability, risk, and uncertainty through the contributions of John von Neumann, Leonard Jimmie Savage, Kenneth Arrow and Harry Markowitz. These Portfolio Theorists provided us with a dramatic leap forward in our understanding and insights of financial rewards under risk and uncertainty.

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Readexamines probability, risk, and uncertainty through the contributions of John von Neumann, Leonard Jimmie Savage, Kenneth Arrow and Harry Markowitz. These Portfolio Theorists provided us with a dramatic leap forward in our understanding and insights of financial rewards under risk and uncertainty.

COLIN READ Professor of Economics and Finance at SUNY College at Plattsburgh, USA, and a columnist for the Plattsburgh New York Press Republican newspaper. He has a PhD in Economics, JD in Law, MBA, Master's of Taxation, and has taught environmental and energy economics and finance for 25 years. Colin's recent books include BP and the...

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Format:HardcoverDimensions:240 pages, 9.68 × 5.64 × 0.87 inPublished:January 15, 2012Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230274145

ISBN - 13:9780230274143

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Extra Content

Table of Contents

Introduction
A Roadmap to Resolve the Big Question
PART I: JOHN VON NEUMANN
The Early Years for John von Neumann and Oskar Morgenstern
The Times and the Beginning of an Era
The Theory of von Neumann and Morgenstern
Applications and Elaborations of the von Neumann-Morgenstern Model
The Later Life and Legacy of John von Neumann and Oskar Morgenstern
PART II: LEONARD JIMMIE SAVAGE
The Early Years
Friedman and Savage's Times
The Theory of Friedman and Savage
Applications of the Concept of Subjective Probabilities
Savage's Later Life and Legacy
PART III: KENNETH J. ARROW
Arrow's Early Years
The Times
Arrow's Great Idea
Applications of the Contingent Claims Model
Arrow's Life, Legacy, and the Nobel Prize
PART IV: HARRY MARKOWITZ
The Early Years of Harry Markowitz
The Times and a New Paradigm in Personal Finance
The Theory of an Efficient Portfolio
Applications of Portfolio Theory
The Nobel Prize, Life, and Legacy of Harry Markowitz
PART V: WHAT WE HAVE LEARNED
Combined Contributions in Portfolio Theory
Conclusions