Arbitrage and approximation theory

Article Abstract:

Issues related to arbitrage opportunities are analyzed, and principles for eliminating such opportunities are discussed. Incomplete markets and pricing of contingent claims are also examined.

Economic aspects, Markets (Economics), Arbitrage

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Utility maximization under capital growth constraints

Article Abstract:

Capital is defined as based on future consumption in terms of its present value. State-dependent rates of discount are obtainable with no assumptions of perfect markets.

Models, Analysis, Capital, Utility theory, Utility functions

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Global convergence of the stochastic tatonnement process

Article Abstract:

Stochastic elements are brought into the Walrasian tatonnement process, and two cases are set out and explained.

Research, Stochastic systems, Walrasian model

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