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Business management> Notes > Financial Economics (Second Edition) by Bodie, Zvi, Robert C. Merton, and David L. Cleeton 2009

Financial Economics (Second Edition) by Bodie, Zvi, Robert C. Merton, and David L. Cleeton 2009

Finance is the study of how people allocate scarce resources over time. Two features that distinguish financial decisions from other resource allocation decisions are that the costs and benefits of financial decisions are (1) spread out over time and (2) usually not known with certainty in advance by either the decision makers or anybody else. In deciding whether to start your own restaurant, for example, you must weigh the costs (such as the investment in fixing up the place and buying the stoves, tables, chairs, little paper umbrellas for exotic drinks, and other equipment you need) against the uncertain benefits (your future profits) that you expect to reap over several years. ... [Show More]

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