An extension of a theorem by Mitjushin and Polterovich to incomplete markets

This paper generalises the Mitjushin–Polterovich theorem to the case of economies with incomplete financial markets where utility functions are of the von-Neumann–Morgenstern type. We thus give a sufficient condition on the joint distribution of the asset payoffs and the endowments which guarantees...

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Veröffentlicht in:	Journal of mathematical economics 1998-10, Vol.30 (3), p.285-300
1. Verfasser:	Bettzuge, Marc Oliver
Format:	Artikel
Sprache:	eng
Schlagworte:	Demand functions Economic models Economic theory Incomplete markets Mathematical analysis Monotonicity Risk aversion Uniqueness Utility functions
Online-Zugang:	Volltext
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