IDEAS home Printed from
   My bibliography  Save this paper

Algunos principios financieros que son consistentes con el postulado de racionalidad económica


  • Francisco Venegas-Martinez


Este trabajo de investigación muestra la consistencia de los principios financieros más importantes con la noción de racionalidad económica perfecta, lo cual sugiere que la existencia de consumidores racionales es un postulado conveniente para el desarrollo adecuado de la teoría económica. Para ello la ecuación diferencial parcial (EDP) de Black-Scholes-Merton (BSM) que determina el precio del producto derivado se obtiene bajo diferentes principios financieros tales como condiciones de no arbitraje, modelo CAPM (Capital Asset Pricing Model), portafolios replicantes, VPN (valor presente neto), modelo de Markowitz, etc. Posteriormente se obtiene exactamente la misma ecuación de BSM utilizando un consumidor-inversionista maximizador de utilidad sujeto a su restricción presupuestal, lo que confirma la consistencia de dichos principios financieros con la racionalidad económica.

Suggested Citation

  • Francisco Venegas-Martinez, 2011. "Algunos principios financieros que son consistentes con el postulado de racionalidad económica," Economic Development 113, University of Santiago de Compostela. Faculty of Economics and Business. Econometrics..
  • Handle: RePEc:eaa:ecodev:113

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    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:eaa:ecodev:113. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (M. Carmen Guisan). General contact details of provider: .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.