Equilibrium pricing and market completion: a counterexample
Journal article: In both arbitrage and utility pricing approaches, the fictitious completion appears as a powerful tool that permits to extend complete markets results to an incomplete markets framework. Does this technique permit to characterize the equilibrium pricing interval? This note provides a negative answer.
Keywords JEL
Pages
- 1963-1969
URL of the HAL notice
Version
- 1
Volume
- 40