A Theory of Continuous Trading When Lumpiness of Consumption Is Allowed (Classic Reprint) - Couverture souple

Huang, Chi-Fu

9781330698938: A Theory of Continuous Trading When Lumpiness of Consumption Is Allowed (Classic Reprint)

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ISBN 10 : 1330698932 ISBN 13 : 9781330698938

Editeur : Forgotten Books, 2019

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�diteur: Forgotten Books
Date d'�dition: 2019
Langue: anglais
ISBN 10: 1330698932
ISBN 13: 9781330698938
Reliure: Broch�
Nombre de pages: 54
Coordonn�es du fabricant: non disponible
Personne responsable: non disponible

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A Theory of Continuous Trading When Lumpiness of Consumption Is Allowed

Chi-Fu Huang

Edit� par Forgotten Books, 2018

ISBN 10 : 1330698932 ISBN 13 : 9781330698938

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Vendeur : Forgotten Books, London, Royaume-Uni

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Paperback. Etat : New. Print on Demand. This book develops a theory of continuous trading in an economy with an infinite-dimensional commodity space that encompasses all existing models as special cases. The author allows agents to consume at any time and formulates the budget constraint and the notion of admissible trading strategies. By showing that the equilibrium price system for traded consumption claims is a vector of martingales under a probability measure that is uniformly absolutely continuous with respect to the common probability beliefs held by agents, the author extends a relationship similar to the one originated by Harrison and Kreps to this context. The author also examines the relationship between the sample paths properties of a price system and the way information is revealed as studied by Huang. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N� de r�f. du vendeur 9781330698938_0

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