Equilibrium in Continuous-Time Financial Markets: Endogenously Dynamically Complete Markets
We prove existence of equilibrium in a continuous-time securities market in which the securities are potentially dynamically complete: the number of securities is at least one more than the number of independent sources of uncertainty. We prove that dynamic completeness of the candidate equilibrium...
| Veröffentlicht in: | Econometrica. in. - Wiley. - 76(2008), 4, Seite 841-907 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
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2008
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| Zugriff auf das übergeordnete Werk: | Econometrica. in |
| Schlagworte: | Dynamic completeness convergence of discrete-time finance models continuous-time finance general equilibrium theory Economics Physical sciences Mathematics |
| Online verfügbar |
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