Understanding Asset Prices

The original version of the article is to be found on the webpage of the Royal Swedish Academy of Sciences, https://www.kva.se/Documents/Priser/Ekonomi/2013/sciback_ek_en_13.pdf. This is NOT an official translation given by the Royal Swedish Academy of Sciences. This is a Chinese translation made by Jia Lao and published for free distribution by courtesy of the Royal Swedish Academy of Sciences.

“It is pretty much a self-contained graduate course in empirical finance.” — Prof. John Cochrane.