Research On Asset Pricing Model Of Single And Multiple Conditions

Because the scientific asset market investment, modern financial theory is attracting more and more attention of many expects and scholars. This paper mainly studies the asset pricing model of single and multiple conditions. First, the extensive development of asset pricing theory and the original pricing model, capital asset pricing theory and combing China Security Market illustrates the application of the application of the capital asset pricing theory in practice. Second, introduces the concept, in economics and financial assets in the uncertain environment preference relations, except some basic knowledge of asset pricing theory of utility function, classic and balance. Third, a basic model in static market, introducing uncertainly, combined with no arbitrage equilibrium is obtained and proved that the fundamental theorem of asset pricing single period. Forth, models are set up in the framework of discrete and continuous cases, and then apply the no-arbitrage pricing is obtained and proved that the fundamental theorem of asset pricing. Through the example analysis, it determines the price is only the arbitrage free market forces, which has nothing to do with the personal preferences.