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The Capital Growth Model: An Empirical Investigation
Published online by Cambridge University Press: 19 October 2009
Extract
Modern micro-capital theory offers three major alternative choice theoretic approaches from which a set of market equilibrium prices can be derived. These approaches are:
1. Time-state preference theory of Arrow [1] and Debreu [6],
2. The capital asset pricing model (hereafter CAPM) of Sharpe [34], Lintner [23], and Fama [7],
3. The capital growth model of Kelly [16], Breiman [5], and Latané [17]
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- Research Article
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- Copyright © School of Business Administration, University of Washington 1973
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