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Financial Innovation and Risk Sharing (Paperback)

Author: Allen, Franklin

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Product Overview

Franklin Allen and Douglas Gale have contributed substantially to thestudy of financial innovation, developing economic models to address the question ofwhether the market provides institutions and opportunities for individuals to sharerisks efficiently. In this book they assemble some of their key papers along with afive-chapter overview that not only synthesizes their work but provides a historicaland institutional review and a discussion of alternative approaches as well.Thelengthy overview surveys the authors approach to financial innovation, principallytheir development of a basic theory of risk sharing in an economy with incompletemarkets. The first two chapters summarize the history of innovation and illustratethe types of innovation, innovators, and motives for innovation. Chapters three andfour look at industrial organization approaches to innovation and outline theauthors theory. The fifth chapter discusses other approaches and an agenda forfuture research. *Author: Allen, Franklin/ Gale, Douglas *Binding Type: Paperback *Number of Pages: 389 *Publication Date: 2003/01/01 *Age Level: 22 - UP *Language: English *Dimensions: 5.98 x 9.01 x 0.80 inches


Publisher MIT Press (MA)
Mfg Part# 9780262514651
SKU 213787163
Format Paperback
ISBN10 0262514656
Release Date 1/11/2010
Product Attributes
Book Format Paperback
Minimum Age 22
Number of Pages 0389
Publisher MIT Press (MA)
$39.50 + $2.75 shipping
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