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Incomplete Markets


  • Michael Magill
  • Martine Quinzii


This two-volume set offers an extraordinary précis of classic articles on the general equilibrium theory of incomplete markets. The first volume presents the contributions to the theory of incomplete markets over a finite horizon. Many of the papers focus on two-period economies. This setting provides the simplest version of the incomplete-market model. However, the study of incomplete markets has evolved from finite to infinite horizon economies. The second volume examines the interesting new technical and conceptual issues that arise from the exploration of incomplete market economies over an open-ended future.

Suggested Citation

  • Michael Magill & Martine Quinzii (ed.), 2008. "Incomplete Markets," Books, Edward Elgar Publishing, volume 0, number 4204.
  • Handle: RePEc:elg:eebook:4204

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    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Robert Jarrow, 2010. "Convenience yields," Review of Derivatives Research, Springer, vol. 13(1), pages 25-43, April.
    2. Suleyman Basak & Georgy Chabakauri, 2010. "Dynamic Mean-Variance Asset Allocation," Review of Financial Studies, Society for Financial Studies, vol. 23(8), pages 2970-3016, August.
    3. Eva Carceles-Poveda, 2009. "Asset Prices and Business Cycles under Market Incompleteness," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(3), pages 405-422, July.
    4. Colino, Jesús P., 2008. "Weak convergence in credit risk," DES - Working Papers. Statistics and Econometrics. WS ws085518, Universidad Carlos III de Madrid. Departamento de Estadística.
    5. Stute, Winfried & Nogales, Francisco J. & Colino, Jesús P., 2008. "LIBOR additive model calibration to swaptions markets," DES - Working Papers. Statistics and Econometrics. WS ws085619, Universidad Carlos III de Madrid. Departamento de Estadística.
    6. Robert Jarrow & Philip Protter, 2011. "Foreign currency bubbles," Review of Derivatives Research, Springer, vol. 14(1), pages 67-83, April.
    7. Unyong Pyo, 2011. "Minimax price bounds in incomplete markets," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 35(3), pages 274-295, July.

    More about this item


    Economics and Finance;

    JEL classification:

    • L0 - Industrial Organization - - General
    • D0 - Microeconomics - - General


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