Financial market structures revealed by pricing rules: efficient complete markets are prevalent

DOI10.1016/j.jet.2017.11.002zbMath1400.91187OpenAlexW2770624657MaRDI QIDQ1693190

José Heleno Faro, Alain Chateauneuf, Aloisio Pessoa de Araujo

Publication date: 11 January 2018

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2017.11.002

zbMATH Keywords

efficiencyincompletenesscomplete marketspricing rulesbid-ask spreadsrisk-neutral probabilities

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

Related Items (4)

Submodular financial markets with frictions ⋮ A REPRESENTATION OF KEYNES’S LONG-TERM EXPECTATION IN FINANCIAL MARKETS ⋮ Equilibria Under Knightian Price Uncertainty ⋮ Updating pricing rules

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