Asset Pricing: Revised Edition

By John H. Cochrane

Asset Pricing, Revised Edition, is a rigorous and influential graduate-level text that develops modern asset pricing theory from first principles. Published by Princeton University Press, this authoritative work presents a unified framework based on stochastic discount factors and intertemporal optimization.

Widely adopted in PhD and advanced MBA finance programs, the book covers consumption-based asset pricing, arbitrage pricing theory, factor models, term structure models, derivatives pricing, and empirical asset pricing methods. It is considered a foundational reference in modern financial economics.

What This Book Does

This book equips readers with the mathematical and economic foundations required to understand how risk, time, and uncertainty determine asset prices in competitive markets.

Key Features

• Stochastic discount factor framework
• Consumption-based asset pricing models
• Arbitrage and factor pricing theory
• Term structure and fixed-income models
• Empirical asset pricing methodologies

Who Should Use This Book?

• PhD students in finance and economics
• Advanced MBA finance students
• Quantitative researchers and analysts
• Investment and asset management professionals
• Academic finance libraries

Why It’s Essential

• Widely cited modern asset pricing reference
• Mathematically rigorous yet conceptually clear
• Unified treatment of theory and empirical methods
• Published by Princeton University Press

A definitive graduate-level guide to modern financial economics.
Order today from BooksGoat and master advanced asset pricing theory.

Product Details

• ISBN-13: 9780691121376
• Edition: Revised Edition
• Author: John H. Cochrane
• Publisher: Princeton University Press
• Format: Paperback
• Condition: New
• Availability: In Stock
• Price: $— (Free Shipping)

Table of Contents (Highlights)

• Stochastic Discount Factors
• Consumption-Based Models
• Arbitrage Pricing Theory
• Factor Models and Empirical Tests
• Term Structure of Interest Rates
• Derivatives and Risk Management

FAQs

• Is this suitable for PhD-level study?
  Yes. It is widely used in doctoral finance programs.
• Does it include mathematical derivations?
  Yes. It develops asset pricing theory rigorously from economic principles.
• Is it relevant for quantitative finance?
  Yes. It provides foundational models used in modern quantitative finance.