A note on finite securities market models
Author:
Norman L. Kleinberg a
| Affiliation: | a Department of Economics & Finance, Baruch College-CUNY, New York |
DOI:
10.1080/07362999508809416
Publication Frequency:
6 issues per year
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Abstract
Using results from algebra, we characterize the space of contingent claims in finite martingale securities market models.In addition, we show that the notion of martingale multiplicity in this context is the simple consequence of a basic algebraic theorem and demonstrate how processes yielding a complete market may be derived
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