Equilibrium in an exchange economy with multiple indivisible commodities and money

Article Abstract:

Research describing equilibrium existence problems for exchange economies is presented. In particular an economy containing a finite number of agents and a finite number of indivisible commodities is investigated.

Research, Case studies, Economic research, Equilibrium (Economics)

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The fundamental theorem of asset pricing with cone constraints

Article Abstract:

The no arbitrage condition in asset pricing has been found to be equivalent to the presence of a probability measure generated from a generalization of the martingale property of securities prices. The existence of equivalent martingale measures in discrete time is in line with the fundamental theorem on asset pricing. The no arbitrage condition may be defined within a discrete-time financial market model which possesses frictions. The model includes risky securities with discounted price process and one riskless bond for use in trading.

Asset Accounting, Prices and rates, Securities, Securities prices, Pricing, Assets (Accounting), Arbitrage, Discrete-time systems, Discrete time systems, Martingales (Mathematics)

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