Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | On Choquet prices in a GEI-model with intermediation costs |
| Organization Unit | |
| Authors |
|
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
|
| Journal Title | Research in Economics |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 1090-9443 |
| Volume | 54 |
| Number | 2 |
| Page Range | 133 - 152 |
| Date | 2000 |
| Abstract Text | This article analyses whether the representation of asset prices by Choquet integration can be justified from a general equilibrium point of view. We demonstrate that if transaction costs functionals are increasing in the volume of trade, positive homogeneous and satisfy an additivity condition, the equilibrium price functional typically does not satisfy all the Choquet properties. Whereas subadditivity and positive homogeneity can be shown to hold for the equilibrium price functional, this is generally not the case for monotonicity and additivity of prices for comonotone income streams. |
| Free access at | Related URL |
| Related URLs | |
| Digital Object Identifier | 10.1006/reec.1999.0214 |
| Other Identification Number | merlin-id:19957 |
| Export |
BibTeX
EP3 XML (ZORA)
|