首页 | 本学科首页   官方微博 | 高级检索  
     检索      


Elimination of arbitrage states in asymmetric information models
Authors:Bernard Cornet  Lionel De Boisdeffre
Institution:1.Department of Economics,University of Kansas and CERMSEM, Université de Paris 1,Paris,France;2.INSEE (CREST),Paris,France;3.CERMSEM, Université de Paris 1,Paris,France
Abstract:In a financial economy with asymmetric information and incomplete markets, we study how agents, having no model of how equilibrium prices are determined, may still refine their information by eliminating sequentially “arbitrage state(s)”, namely, the state(s) which would grant the agent an arbitrage, if realizable.
Keywords:Arbitrage  Incomplete markets  Asymmetric information  Information revealed by prices
本文献已被 SpringerLink 等数据库收录!
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号