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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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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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330698938
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Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330698938
Quantity: 15 available