SFB 303 Discussion Paper No. B - 079

Author: Wiesmeth, Hans
Title: Complete Markets
Abstract: This paper introduces alternative 'completeness` concepts for a temporal exchange economy with commodity securities, characterized by state-contingent payoffs (Radner model). The basic idea is to compare relevant properties of the given Radner model to those of an Arrow-Debreu model associated with the original model in a natural way. Inclusions among these various completeness definitions are then discussed with a special consideration of the theory of arbitrage pricing of contingent claims.
Creation-Date: July 1987
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