Transaction costs and a redundant security: Divergence of individual and social relevance

DOI10.1016/S0304-4068(99)00015-4zbMath0959.91018OpenAlexW1584894327MaRDI QIDQ1567196

Chiaki Hara

Publication date: 26 April 2001

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0304-4068(99)00015-4

zbMATH Keywords

transaction costspecuniary externalitysecurity market

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Auctions, bargaining, bidding and selling, and other market models (91B26) Consumer behavior, demand theory (91B42) Applications of functional analysis in optimization, convex analysis, mathematical programming, economics (46N10)

Cites Work

• Unnamed Item
• Equivariant general equilibrium theory
• Smooth preferences and the regularity of equilibria
• Notes on sequence economies, transaction costs, and uncertainty
• General equilibrium with producers and brokers. Existence and regularity
• Welfare analysis of the coordinating role of a redundant security
• Financial innovation and arbitrage pricing in frictional economies
• Commision-revenue maximization in a general equilibrium model of asset creation
• Martingales and arbitage in securities markets with transaction costs
• ARBITRAGE IN SECURITIES MARKETS WITH SHORT-SALES CONSTRAINTS
• DERIVATIVE ASSET PRICING WITH TRANSACTION COSTS¹
• On Transaction Costs, Inessential Sequence Economies and Money
• Option pricing: A simplified approach
• Economies with a Finite Set of Equilibria

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