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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | On Uniqueness of Equilibria in the CAPM |
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| Institution | University of Zurich |
| Series Name | Working paper series / Institute for Empirical Research in Economics |
| Number | No. 39 |
| ISSN | 1424-0459 |
| Date | 2000 |
| Abstract Text | "- This paper replaces the paper ""Existence and Uniqueness of Equilibria in the CAPM"" -nIn the standard CAPM with a riskless asset we give a sufficient condition for uniqueness. This condition is a joint restriction on the agents' endowments and their preferences which is compatible with non-increasing absolute risk aversion and which is in particular satisfied with constant absolute risk aversion. Moreover in the CAPM without a riskless asset we give an example for multiple equilibria even though all agents have constant absolute risk aversion." |
| Official URL | http://www.econ.uzh.ch/wp.html |
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