. "Synchronism" refers to both an epistemological and practical approach that addresses finance neither with a view to the past nor … traced back to certain developments in economic theory since the so-called "marginalist revolution", which enabled the …

We examine the implications of arbitrage in a market with many assets. The absence of arbitrage opportunities implies …

We examine the implications of arbitrage in a market with many assets. The absence of arbitrage opportunities implies …

asset pricing model (CAPM). Arbitrage plays a pivotal role in finance and is studied in a variety of contexts, including the … APT model of asset prices. Methods for the empirical evaluation of CAPM and APT are also discussed, together with the … volatility of asset prices, the intertemporal CAPM and the equity premium puzzle. An analysis of bond contracts leads into an …