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

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

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Excerpt from A Theory of Continuous Trading When Lumpiness of Consumption Is Allowed

Of a price system and the way information is revealed as studied by Huang [10] is examined. In particular, we show that if agents' preferences are contin~.

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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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  • PublisherForgotten Books
  • Publication date2020
  • ISBN 10 1330698932
  • ISBN 13 9781330698938
  • BindingPaperback
  • LanguageEnglish
  • Number of pages52

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Chi-Fu Huang
Published by Forgotten Books, 2020
ISBN 10: 1330698932 ISBN 13: 9781330698938
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Paperback. Condition: 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. Seller Inventory # 9781330698938_0

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Chi-Fu Huang
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ISBN 10: 1330698932 ISBN 13: 9781330698938
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330698938

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Chi-Fu Huang
Published by Forgotten Books, 2019
ISBN 10: 1330698932 ISBN 13: 9781330698938
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