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On Intertemporal Preferences With a Continous Time Dimension II: The Case of Uncertainty (Classic Reprint) - Softcover
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Excerpt from On Intertemporal Preferences With a Continous Time Dimension II: The Case of Uncertainty
We also investigate the properties of arbitrage-free price processes for long - lived securities in a dynamic securities market economy where an arbitrage opportunity is defined using concepts of continuity derived from our family of topologies. It is shown that, between lump-sum ex dividend dates, price processes for these securities are continuous except possibly at surprises. In particular, if the information structure is generated by a Brownian motion, then (ex-dividend)
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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 1332273009
- ISBN 13 9781332273003
- BindingPaperback
- LanguageEnglish
- Number of pages41
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On Intertemporal Preferences With a Continous Time Dimension II
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Paperback. Condition: New. Print on Demand. This book presents a new approach to understanding the principles of intertemporal choice under uncertainty, where preferences for consumption at different times are treated as nearly perfect substitutes except possibly at discrete times of information arrival. The author challenges standard representations of time-additive utility functions and preferences in consumer theory. Instead, the author uses continuous time models to show how preferences for goods delivered at nearby future dates are almost equal except possibly at times of information surprise. The book explores the implications of this approach for general equilibrium theory, asset valuation by arbitrage, and the properties of prices of long-lived assets in economies populated with agents whose preferences are continuous in time under uncertainty. This book will appeal to researchers and practitioners interested in mathematical economics, microeconomics, and financial economics. 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 # 9781332273003_0
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On Intertemporal Preferences With a Continous Time Dimension II The Case of Uncertainty Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781332273003
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On Intertemporal Preferences With a Continous Time Dimension II The Case of Uncertainty Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781332273003
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On Intertemporal Preferences With a Continous Time Dimension II : The Case of Uncertainty (Classic Reprint)
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Condition: Hervorragend. Zustand: Hervorragend | Seiten: 42 | Sprache: Englisch | Produktart: Bücher. Seller Inventory # 26076559/1
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