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On the theory of finance and investment

Milne, Frank


This thesis is a theoretical study of financial and investment decisions by consumers and producers in a market economy. The study takes as its point of departure, the certainty, competitive equilibrium theory of Arrow-Debreu, and demonstrates some well-known propositions on the irrelevance of financial decisions and the unambiguous role of value-maximization for production decisions. Because a complete market system for all future contingencies is unrealistic, the study proceeds to...[Show more]

CollectionsOpen Access Theses
Date published: 1975
Type: Thesis (PhD)


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