PRODUCTION COSTS, TRANSACTION COSTS, AND LOCAL GOVERNMENT CONTRACTOR CHOICE
نویسندگان
چکیده
منابع مشابه
Local Risk-Minimization Under Transaction Costs
We propose a new approach to the pricing and hedging of contingent claims under transaction costs in a general incomplete market in discrete time. Under the assumptions of a bounded mean-variance tradeoff, substantial risk and a nondegeneracy condition on the conditional variances of asset returns, we prove the existence of a locally risk-minimizing strategy inclusive of transaction costs for e...
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ژورنال
عنوان ژورنال: Economic Inquiry
سال: 1991
ISSN: 0095-2583,1465-7295
DOI: 10.1111/j.1465-7295.1991.tb00845.x