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A Time-State-Preference Model of Security Valuation*

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  • Myers, Stewart C.

Abstract

Determining the market values of streams of future returns is a task common to many sorts of economic analysis. The literature on this subject is extensive at all levels of abstraction. However, most work has not taken uncertainty into account in a meaningful way.

Suggested Citation

  • Myers, Stewart C., 1968. "A Time-State-Preference Model of Security Valuation*," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 3(1), pages 1-33, March.
    • Handle: RePEc:cup:jfinqa:v:3:y:1968:i:01:p:1-33_01
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    Citations

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    Cited by:

    1. Peter Brusov & Tatiana Filatova & Natali Orekhova, 2023. "Capital Structure Theory: Past, Present, Future," Springer Books, in: The Brusov–Filatova–Orekhova Theory of Capital Structure, chapter 0, pages 9-50, Springer.
    2. Samuel Mongrut Montalván & Didac Ramírez Sarrió, 2005. "Discount Rates in Emerging Capital Markets," Finance 0501013, University Library of Munich, Germany.
    3. Jack Hirshleifer & Mark E. Rubinstein, 1973. "Speculation and Information in Securities Markets," UCLA Economics Working Papers 032, UCLA Department of Economics.
    4. Franklin Allen & Sudipto Bhattacharya & Raghuram Rajan & Antoinette Schoar, 2008. "The Contributions of Stewart Myers to the Theory and Practice of Corporate Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 20(4), pages 8-19, September.
    5. Nippel, Peter, 2002. "Eigenkapitalunterlegung von Kreditrisiken bei Banken und die Auswirkungen auf die Fremdkapitalkosten von Kreditnehmern," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 568, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
    6. Tarrazo, Manuel, 1997. "An application of fuzzy set theory to the individual investor problem," Financial Services Review, Elsevier, vol. 6(2), pages 97-107.
    7. Merton, Robert C., 1993. "On the microeconomic theory of investment under uncertainty," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 13, pages 601-669, Elsevier.
    8. Samuel Mongrut & Dídac Ramírez, 2006. "Discount Rates in Emerging Capital Markets," Working Papers 06-03, Centro de Investigación, Universidad del Pacífico.
    9. Merton, Robert, 1990. "Capital market theory and the pricing of financial securities," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 11, pages 497-581, Elsevier.
    10. Homolle, Susanne, 2004. "Bank capital regulation, asset risk, and subordinated uninsured debt," Journal of Economics and Business, Elsevier, vol. 56(6), pages 443-468.

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