PARETO OPTIMA IN INCOMPLETE FINANCIAL-MARKETS

被引：0
|
作者：
NIELSEN, LT
机构：
[1] Insead, Fontainebleau
来源：
JOURNAL OF MATHEMATICAL ECONOMICS | 1994年 / 23卷 / 01期
关键词：
PARETO OPTIMA; FINANCIAL MARKETS;
D O I：
10.1016/0304-4068(94)90038-8
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper demonstrates the structure of the set of Pareto optima in exchange economy models where the choice sets are unbounded and satiation is possible. The main examples are found among asset market models with short-selling and incomplete markets, such as the mean-variance Capital Asset Pricing Model (CAPM) without a riskless asset.
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页码：87 / 100
页数：14
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