haku: @indexterm sequential analysis / yhteensä: 60
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| Tekijä: | Huang, K. Werner, J. |
| Otsikko: | Asset price bubbles in Arrow-Debreu and sequential equilibrium |
| Lehti: | Economic Theory
2000 : VOL. 15:2, p. 253-278 |
| Asiasana: | ASSETS PRICING SEQUENTIAL ANALYSIS |
| Kieli: | eng |
| Tiivistelmä: | Price bubbles in an Arrow-Debreu equilibrium in an infinite-time economy are a manifestation of lack of countable additivity of valuation of assets. In contrast, the known examples of price bubbles in a sequential equilibrium in infinite time cannot be attributed to the lack of countable additivity of valuation. In this paper the authors develop a theory of valuation of assets in sequential markets and study the nature of price bubbles in light of this theory. |
SCIMA