SFB 303 Discussion Paper No. A - 504

Author: Hens, Thorsten, and Andras Löffler
Title: Existence and Uniqueness of Equilibria in the CAPM with a Riskless Asset
Abstract: In the standard CAPM with a riskless asset we prove existence of equilibria without assuming concavity of the investor's utility functions. Moreover, we give a uniqueness result using assumptions on the risk aversion of investors.
Keywords: CAPM, uniqueness, existence, risk aversion
JEL-Classification-Number: G10, C62
Creation-Date: December 1995
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