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Safety in Markets: An Impossibility Theorem for Dutch Books

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  • Leeat Yariv

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  • Leeat Yariv, 2004. "Safety in Markets: An Impossibility Theorem for Dutch Books," Theory workshop papers 658612000000000072, UCLA Department of Economics.
    • Handle: RePEc:cla:uclatw:658612000000000072
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    File URL: http://www.econ.ucla.edu/lyariv/papers/DutchBooks.pdf
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    References listed on IDEAS

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    1. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
    2. Cubitt, Robin P. & Sugden, Robert, 2001. "On Money Pumps," Games and Economic Behavior, Elsevier, vol. 37(1), pages 121-160, October.
    3. Erzo Luttmer & Thomas Mariotti, 2006. "Competitive equilibrium when preferences change over time," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(3), pages 679-690, April.
    4. A. Fostel & H. Scarf & M. Todd, 2004. "Two new proofs of Afriat’s theorem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(1), pages 211-219, July.
    5. Border, Kim C & Segal, Uzi, 1994. "Dutch Books and Conditional Probability," Economic Journal, Royal Economic Society, vol. 104(422), pages 71-75, January.
    6. Alvaro Sandroni, 2000. "Do Markets Favor Agents Able to Make Accurate Predicitions?," Econometrica, Econometric Society, vol. 68(6), pages 1303-1342, November.
    7. Erzo G. J. Luttmer & Thomas Mariotti, 2003. "Subjective Discounting in an Exchange Economy," Journal of Political Economy, University of Chicago Press, vol. 111(5), pages 959-989, October.
    8. Felix Kubler, 2008. "Observable Restrictions of General Equilibrium Models with Financial Markets," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 93-108, Springer.
    9. Heifetz, Aviad & Shannon, Chris & Spiegel, Yossi, 2007. "What to maximize if you must," Journal of Economic Theory, Elsevier, vol. 133(1), pages 31-57, March.
    10. Green, Jerry, 1987. ""Making book against oneself," the Independence Axiom, and Nonlinear Utility Theory," Scholarly Articles 3203640, Harvard University Department of Economics.
    11. Blume, Lawrence & Easley, David, 1992. "Evolution and market behavior," Journal of Economic Theory, Elsevier, vol. 58(1), pages 9-40, October.
    12. Machina, Mark J, 1989. "Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1622-1668, December.
    13. Narayana R. Kocherlakota, 2001. "Looking for evidence of time-inconsistent preferences in asset market data," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 25(Sum), pages 13-24.
    14. Lawrence Blume & David Easley, 2006. "If You're so Smart, why Aren't You Rich? Belief Selection in Complete and Incomplete Markets," Econometrica, Econometric Society, vol. 74(4), pages 929-966, July.
    15. Jerry Green, 1987. ""Making Book Against Oneself," the Independence Axiom, and Nonlinear Utility Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(4), pages 785-796.
    16. Harris, Christopher J, 1985. "Existence and Characterization of Perfect Equilibrium in Games of Perfect Information," Econometrica, Econometric Society, vol. 53(3), pages 613-628, May.
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    Cited by:

    1. Kfir Eliaz & Ran Spiegler, 2006. "Contracting with Diversely Naive Agents," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(3), pages 689-714.
    2. Deck, Cary & Jahedi, Salar, 2015. "An experimental investigation of time discounting in strategic settings," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 54(C), pages 95-104.
    3. Cary Deck & Salar Jahedi, 2014. "People Do Not Discount Heavily in Strategic Settings, but They Believe Others Do," Working Papers 14-11, Chapman University, Economic Science Institute.
    4. Xavier Gabaix & David Laibson, 2018. "Shrouded attributes, consumer myopia and information suppression in competitive markets," Chapters, in: Victor J. Tremblay & Elizabeth Schroeder & Carol Horton Tremblay (ed.), Handbook of Behavioral Industrial Organization, chapter 3, pages 40-74, Edward Elgar Publishing.
    5. Ernst Fehr & Jean-Robert Tyran, 2005. "Individual Irrationality and Aggregate Outcomes," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 43-66, Fall.

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