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Multiperiod Securities Markets, With Differential Information: Martingales and Resolution Times (Classic Reprint) - Couverture souple
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The digital edition of all books may be viewed on our website before purchase. Excerpt from Multiperiod Securities Markets, With Differential Information
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- ÉditeurForgotten Books
- Date d'édition2024
- ISBN 10 1332270867
- ISBN 13 9781332270866
- ReliureBroché
- Langueanglais
- Nombre de pages33
- Coordonnées du fabricantnon disponible
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Multiperiod Securities Markets, With Differential Information Martingales and Resolution Times Classic Reprint
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
Évaluation du vendeur 5 sur 5 étoiles
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332270866
Quantité disponible : 15 disponible(s)
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Multiperiod Securities Markets, With Differential Information Martingales and Resolution Times Classic Reprint
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
Évaluation du vendeur 4 sur 5 étoiles
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332270866
Quantité disponible : 15 disponible(s)
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Multiperiod Securities Markets, With Differential Information (Classic Reprint)
impression à la demandeVendeur : Forgotten Books, London, Royaume-Uni
Évaluation du vendeur 5 sur 5 étoiles
Paperback. Etat : New. Print on Demand. This book examines the behavior of securities markets in a multi-period model where different participants have differing access to information. It extends the famous Harrison-Kreps connection between price processes and martingales. It goes on to study the information that must be revealed by a better-informed agent to a worse-informed agent if free lunches are to be precluded. Finally, it formalizes the connection between completely revealing price processes and dynamically complete markets for elementary contingent claims. The book demonstrates that an arbitrage-free price system is intimately connected with martingales under rational expectations. It also shows that the absence of free lunches necessitates differing agents agreeing on the resolution times of commonly marketed events. This means that, through an arbitrage-free price system, endowed information asymmetry is equalized. Overall, this book provides valuable insights into the behavior of securities markets with differential information. Its analysis is theoretically rigorous and the results are presented in a clear and accessible manner. Anyone interested in a deeper understanding of the interactions between information asymmetry, market dynamics, and equilibrium will find this book to be an invaluable resource. 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 réf. du vendeur 9781332270866_0
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