IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-11696-6_4.html
   My bibliography  Save this book chapter

Arbitrage Opportunities in Financial Markets are not Inconsistent with Competitive Equilibrium

In: Equilibrium and Dynamics

Author

Listed:
  • Lawrence M. Benveniste
  • Juan Ketterer

Abstract

Cass’s (1984) pioneering proof of the existence of competitive equilibrium for economies where financial markets are incomplete and securities’ returns are nominally denoted rests crucially on an information structure that assures the absence of risk free arbitrage in equilibrium. Subsequent existence proofs given by Werner (1985) and Duffle (1987) have also leaned heavily on the assumption that equilibrium will be absent of arbitrage opportunities.

Suggested Citation

  • Lawrence M. Benveniste & Juan Ketterer, 1992. "Arbitrage Opportunities in Financial Markets are not Inconsistent with Competitive Equilibrium," Palgrave Macmillan Books, in: Mukul Majumdar (ed.), Equilibrium and Dynamics, chapter 4, pages 45-54, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11696-6_4
    DOI: 10.1007/978-1-349-11696-6_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

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


    Cited by:

    1. Guangsug Hahn & Dong Chul Won, 2007. "Equilibrium in Financial Markets with Market Frictions," Korean Economic Review, Korean Economic Association, vol. 23, pages 267-302.
    2. repec:dau:papers:123456789/6894 is not listed on IDEAS
    3. V.F. Martins-da-Rocha & L. Triki, 2005. "Equilibria in exchange economies with financial constraints: Beyond the Cass Trick," Microeconomics 0503013, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-11696-6_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.