Continuous-Time Finance

Foreward: Paul Samuelson.

Part I: Introduction to Finance and the Mathematics of
Continuous-time Models.

Part II: Optimum Consumption and Portfolio Selection in
Continuous-time Models.

Part III: Warrant and Option Pricing Theory.

Part IV: Contingent-Claims Analysis in the Theory of Corporate
Finance and Financial Intermediation.

Part V: An Intertemporal-Equilibrium Theory of Finance.

Part VI: Applications of the Continuous-Time Model to Selected
Issues in Public Finance.

"The thoughtful way in which the book is organized, the connective
sections, and the fullness of this remarkable scholar's
accomplishments, succeed in making this collection into a watershed
event in finance. It is a testament to how much of modern finance
he has formulated, advanced, and, in a meaningful sense, brought to
a satisfactory completeness. Modern finance has much to do, but it
can do no better than to add to what Merton has already done, and I
recommend this book to all who wish to learn what finance has been
up to for the past two decades." Stephen Ross, Journal of
Finance

"I do not see how one can undertake research in
intertemporal asset-pricing under uncertainty without studying very
carefully the past and present work of Robert C. Merton.
Accordingly, Basil Blackwell has done the academic and non-academic
finance community a great service by publishing this book."
Michael Selby, The Economic Journal

"A coherent text that represents a bible on continuous-time
finance. Anyone with an interest in financial economics will be
aware of the outstanding achievements of Robert C. Merton. To these
individuals the book will come as no disappointment. It will
undoubtedly be a classic reference on continuous-time finance for
many years to come." The Manchester School

"John Maynard Keynes alludes to economics in the following terms
...'the delightful paths of our own most agreeable branch of moral
sciences, in which theory and fact, intuitive imagination and
practical judgment, are blended in a manner comfortable to the
human intellect.' Robert C. Merton's Continuous-time
Finance, which comes to us more than 20 years after his first
paper appeared, squarely fits this description." Suresh
Sundaresan, Columbia University, The Review of Financial
Studies

Robert C. Merton is George Fisher Baker, Professor of Business Administration, Harvard University.

R. C. Merton, Harvard University