APSIM
The Asset Pricing and Portfolio Choice Simulator

Written by
William F. Sharpe
STANCO 25 Professor of Finance, Emeritus, Stanford University

  
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 2.5 License.



The APSIM program is described and utilized extensively in the author's book Investors and Markets: Portfolio Choices, Asset Prices and Investment Advice, Princeton University Press, 2007.

APSIM requires Microsoft's Excel and a windows operating system. You are free to use the APSIM program or to redistribute under the terms of the above license.

Quickstart:

  1. Create a directory on your C drive named c:\apsim;  this is required.
  2. Right click here to download the apsim program; save it in your c:\apsim directory. Do not run it directly. It should only be executed by pressing the button in a case file (see 5 below).
  3. Right click  here to download the excel workbook for case1; save it in any desired directory.
  4. Open  case1.xls in excel; if necessary, from the excel menu select Tools/Macro/Security and set the security level to either low or medium (this will apply until reset). If requested, enable macros.
  5. Press the button labelled "Process" at the top of the worksheet named Case; the simulator should process the data and place the results in the Case1 workbook..
  6. Select "Save as" from the excel menu, then save the workbook under a new name.  You can then use the new workbook to create a case of your own,
  7. You can create a new Apsim workbook at any time by saving an old APSIM workbook under a new name. 

To Learn about APSIM:

  1. Click here to read the APSIM documentation, or
  2. Right click here to download the APSIM documentation.

To Download one or more of the cases used in Investors and Markets: Portfolio Choices, Asset Prices and Investment Advice:

  1. If your browser is set up to automatically load excel workbooks, click the number of the desired case below.  You can then use the excel "Save As" menu to save it on your own computer.
  2. If your browser is not set up to automatically load excel workbooks, right click the number of the desired case below to save the workbook on your computer.
                  1   2   3   4   5   6   7   8   9   10   11   12   13   14   15   16   17   18   19   20   21   22   23 

      3. To download a .zip file containing all 23 cases, click  here.

To Download the APSIM source code:

       Click here to download a .zip file containg the source code and a readme.txt file.


To send email concerning APSIM:

      Include the word APSIM in the subject line and send to:
               email address