Macro Markets

Macro Markets

"Macro Markets" is a book by Robert Shiller. It suggests that humans cannot fully diversify away their risk as portfolio theory would like us to. This is because there are missing markets, such as the general geographically computational risk of living in a certain area. The book envisions completing endowment markets by providing tradable risk factors.

External links

* [http://www.us.oup.com/us/catalog/general/subject/Economics/Business/?view=usa&ci=9780198294184 Oxford University Press]


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