Intermediate Financial Theory - Edition 4 - By Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine Elsevier Educate

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Intermediate Financial Theory,

Edition 4

By Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine

Publication Date: 03 Sep 2025

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Intermediate Financial Theory, Fourth Edition provides an updated and thorough explanation of basic financial concepts, in a manner accessible both to those new to the subject and to those without a deep background in advanced mathematics. It is ideal for students with a background in Economics who are looking for an accessible yet rigorous introduction to financial theory beyond basic MBA-level textbooks. While not as dense as highly technical Ph.D. presentations tend to be, this valuable text seeks rather to integrate academic expertise with real-world experience from leading experts in the field. The fourth edition has been fully updated and is supplemented by extensive online resources.

Key Features

Completely updated edition of a classic textbook that fills a gap between MBA- and PhD-level texts.
Focuses on clear explanations of key concepts and requires limited mathematical prerequisites.
Emphasizes the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing.
The 4^th edition includes new chapters focused on the 2008-2009 financial crisis, the sustainability challenge, the safe asset shortage, discounting from a long run (climate change) perspective and sustainable finance. It also collects, in a new separate chapter, relevant insights from a corporate finance perspective.
Online solutions manual available for qualified instructors

About the author

By Jean-Pierre Danthine, Vice-Chairman of the Governing Board at the Swiss National Bank in Bern, Switzerland; John B. Donaldson, Mario J. Gabelli Professor of Finance at Columbia University Business School, New York, NY, USA and Samuel Danthine, ENSAI, France

Part One: Introduction
1. On the Role of Financial Markets and Institutions
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
2. Finance in the 21st Century: Crisis and Sustainability
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
3. The Challenges of Asset Pricing: A Road Map
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine

Part Two: The Demand for Financial Assets
4. Making Choices in Risky Situations
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
5. Measuring Risk and Risk Aversion
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
6. Risk Aversion and Investment Decisions, Part I: Subtitle?
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
7. Risk Aversion and Investment Decisions, Part II: Modern Portfolio Theory
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
8. Risk Aversion and Investment Decisions, Part III: Challenges to Implementation
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine

Part 3: Equilibrium Pricing
9. The Capital Asset Pricing Model
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
10. Arrow–Debreu Pricing, Part I
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
11. The Consumption Asset Pricing Model, Part I
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
12. The Consumption Asset Pricing Model, Part II.
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine

Part 4: Arbitrage Pricing
13. Arrow–Debreu Pricing, Part II
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
14. The Martingale Measure, Part I
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
15. The Martingale Measure, Part II
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
16. The Arbitrage Pricing Theory
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine

Part 5: Topics
17. Safe Asset Shortage
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
18. Portfolio Management in the Long Run
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
19. Discounting, the Dice Model as a CAPM
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
20. Sustainable Finance
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
21. Selected Topics in Corporate Finance
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine
22. Financial Equilibrium with Di_erential Information
Jean-Pierre Danthine, John B. Donaldson and Samuel Danthine

Web Chapters include:

Web chapter 1 supplements to Chapter 1: The Solow Growth Model
Web chapter 2 supplements to Chapter 2: The European Financial Crisis
Web chapter 4 supplements to Chapter 4: Advanced Topics on Preferences
Web chapter 5 supplements to Chapter 5: Excessive Risk Taking and Under Risk Taking and Rabin’s argument
Web chapter 7 supplements to Chapter 7: More on the Demand for Assets and Ambiguity
Web chapter 8 supplements to Chapter 8: On Mean Reversion
Web chapter 11 supplements to Chapter 11: Proof of Theorem 11.2, Corollary 11.1, and More on Aggregation
Web chapter 12 supplements to Chapter 12: Complements on Bayesian Updating
Web chapter 13 supplements to Chapter 13: Option Theory: A Refresher
Web chapter 15 supplements to Chapter 15: An Intuitive Overview of Continuous Time Finance
Web chapter 16 supplements to Chapter 16: Total Factor Productivity Risk
Web chapter 17 supplements to Chapter 17: CCAPM and Bond Holding
Web chapter 18 supplements to Chapter 18: More on Variations on the Risk-Free Rate
Web chapter 19 supplements to Chapter 19: More on Weitzman and DICE
Web chapter 21 supplements to Chapter 21: Zero Net Present Value Investment

ISBN: 9780443289026

Page Count: 600

Illustrations : Approx. 100 illustrations

Retail Price (USD) :

Graduate students in Finance, Business, and Economics

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