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Incomplete Markets with Endogenous Portfolio Constraints and Redundant Assets
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Hahn, Guangsug | - |
| dc.date.accessioned | 2014-12-16T02:32:48Z | - |
| dc.date.available | 2014-12-16T02:32:48Z | - |
| dc.date.issued | 2014-10 | - |
| dc.identifier.citation | Seoul Journal of Economics, Vol.27 No.4, pp. 469-488 | - |
| dc.identifier.issn | 1225-0279 | - |
| dc.identifier.uri | https://hdl.handle.net/10371/93667 | - |
| dc.description.abstract | This paper shows that a competitive equilibrium exists in an exchange economy with incomplete financial markets where redundant assets are traded and the asset trading of each agent is subject to endogenous portfolio constraints. The set of budget-feasible portfolios need not be bounded in the presence of redundant assets. To address this problem, we impose the positive semi-independence condition on individual portfolio constraints. | - |
| dc.language.iso | en | - |
| dc.publisher | Institute of Economic Research, Seoul National University | - |
| dc.subject | Incomplete markets | - |
| dc.subject | Competitive equilibrium | - |
| dc.subject | Endogenous portfolio constraints | - |
| dc.subject | Redundant assets | - |
| dc.subject | Constrained arbitrage | - |
| dc.title | Incomplete Markets with Endogenous Portfolio Constraints and Redundant Assets | - |
| dc.type | SNU Journal | - |
| dc.contributor.AlternativeAuthor | 한광석 | - |
| dc.citation.journaltitle | Seoul Journal of Economics | - |
| dc.citation.endpage | 488 | - |
| dc.citation.number | 4 | - |
| dc.citation.pages | 469-488 | - |
| dc.citation.startpage | 469 | - |
| dc.citation.volume | 27 | - |
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