Excerpt from On Intertemporal Preferences With a Continous Time Dimension II: The Case of Uncertainty We also investigate the properties of arbitrage-free price processes for long - lived securities in a dynamic securities market economy where an arbitrage opportunity is defined using concepts of continuity derived from our family of topologies. It is shown that, between lump-sum ex dividend dates, price processes for these securities are continuous except possibly at surprises. In particular, if the information structure ...
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Excerpt from On Intertemporal Preferences With a Continous Time Dimension II: The Case of Uncertainty We also investigate the properties of arbitrage-free price processes for long - lived securities in a dynamic securities market economy where an arbitrage opportunity is defined using concepts of continuity derived from our family of topologies. It is shown that, between lump-sum ex dividend dates, price processes for these securities are continuous except possibly at surprises. In particular, if the information structure is generated by a Brownian motion, then (ex-dividend) About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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