Are Probabilities Used in Markets ?
نویسنده
چکیده
Working in a complete-markets setting, a property of asset demands is identified that is inconsistent with the investor's preference being based on probabilities. In this way, a market counterpart of the Ellsberg Paradox is provided. Journal of Economic Literature Classification Numbers: D00, D80, D81. 2000 Academic Press
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 91 شماره
صفحات -
تاریخ انتشار 2000