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Erschienen in:
2013 | OriginalPaper | Buchkapitel
Life and Legacy
verfasst von : Colin Read
Erschienen in: The Efficient Market Hypothesists
Verlag: Palgrave Macmillan UK
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Stephen Ross provided to the finance discipline the APT that was intuitively appealing, consistent with well-understood methodologies, that invoked the equilibrium concept of arbitrage and the efficient market hypothesis, and was rooted in the sound theory of the Arrow-Debreu competitive equilibrium. He was able to do so because he brought to the theoretical problem an excellent foundation in mathematics, from his attendance at Caltech, a firm foundation in economics from his PhD, and his experience from an immersion in leading-edge finance at the finance workshops upon his initial appointment at Wharton.