Major themes in theoretical financial economics since 1973 are presented through 18 reprinted articles, each followed by a substantial essay by a leading scholar in the field providing a critical discussion and overview of the topic. The book presents a broad spectrum of viewpoints with an emphasis on the work on valuation, economics of uncertainty and taxation which pertains to the problems of financial markets and corporations. Contributions are made by: M.Rubenstein, J.Scheinkman, D.Breeden, S.Ross, G.Huberman, G.Connor, R.Merton, J.Cox, J.Ingersoll, K.Singleton, J.Stiglitz, D.Duffie, C.Huang, M.Miller, H.Kim, M.Scholes, M.Wolfson, G.Constantinides, R.litzenberger, S.Battacharya, K.Rock, S.Grossman, P.Pfieiderer, H.Leland, D.Pyle, D.Diamond, P.Dybvig, S.Salant, D.Henderson, C.Spatt, J.Williams, A.Raviv, A.Admati, A.Kyle, F.Allen, C.Jacklin, J.Tirole, O.Hart, A.Weiss.