Market demand functions in the capital asset pricing model.
A study was conducted to analyze market demand functions in the Capital Asset Pricing Model (CAPM). Findings indicate that Homogeneity, Walras' Law, and the Tobin Separation Property typify market demand on finite sets of prices. As a result, for any number n, there are CAPM economies that have at...
| Publicado en: | Journal of Economic Theory Vol. 79; no. 2; pp. 192 - 207 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Academic Press Inc.
April 1998
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512634965&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512634965 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00220531 RTH jtl: Journal of Economic Theory issn: 00220531 maglogo: N pubinfo: dt: April 1998 vid: 79 iid: 2 pid: 735 pub: Academic Press Inc. artinfo: ui: 512634965 10.1006/jeth.1997.2370 ppf: 192 ppct: 15 formats: tig: atl: Market demand functions in the capital asset pricing model. aug: au: Bottazzi, Jean-Marc Hens, Thorsten Löffler, Andreas su: Capital assets pricing model Economic demand Mathematical models sug: subj: Capital assets pricing model Economic demand Mathematical models ab: A study was conducted to analyze market demand functions in the Capital Asset Pricing Model (CAPM). Findings indicate that Homogeneity, Walras' Law, and the Tobin Separation Property typify market demand on finite sets of prices. As a result, for any number n, there are CAPM economies that have at least n equilibria and hence have n different beta pricing formulas. Endowment perturbations in these economies cannot reduce the number of equilibria to less than n. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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