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. - 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 |
Schlagworte: | Dynamic completeness convergence of discrete-time finance models continuous-time finance general equilibrium theory Economics Physical sciences Mathematics |
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