Please use this identifier to cite or link to this item:
https://hdl.handle.net/1959.11/4963
Title: | The arbitrage pricing theorem with incomplete preferences | Contributor(s): | Kelsey, David (author); Yalcin, Erkan (author) | Publication Date: | 2007 | DOI: | 10.1016/j.mathsocsci.2007.04.001 | Handle Link: | https://hdl.handle.net/1959.11/4963 | Abstract: | This paper proves existence of equilibrium and the arbitrage pricing theorem for an asset exchange economy, where individuals' preferences may be incomplete or intransitive. This extends existing results to more general preferences. We also prove the arbitrage pricing theorem for a theory of choice under uncertainty by Bewley [Bewley, T. F. (2002), Knightian decision theory: part I, Decisions in Economics and Finance 25, 79–110.]. These preferences model Knightian uncertainty by preferences which may be incomplete but satisfy independence. | Publication Type: | Journal Article | Source of Publication: | Mathematical Social Sciences, 54(1), p. 90-105 | Publisher: | Elsevier BV | Place of Publication: | United States of America | ISSN: | 0165-4896 | Fields of Research (FoR) 2008: | 140103 Mathematical Economics 140207 Financial Economics 140104 Microeconomic Theory |
Socio-Economic Objective (SEO) 2008: | 970101 Expanding Knowledge in the Mathematical Sciences 970114 Expanding Knowledge in Economics |
Peer Reviewed: | Yes | HERDC Category Description: | C1 Refereed Article in a Scholarly Journal |
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Appears in Collections: | Journal Article |
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