Skip to main content

Equilibrium

  • Chapter
  • First Online:
Continuous-Time Asset Pricing Theory

Part of the book series: Springer Finance ((SFTEXT))

  • 2311 Accesses

Abstract

This chapter presents the description of an economy, the definition of an economic equilibrium, and some necessary conditions implied by the existence of an economic equilibrium.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Institutional subscriptions

References

  1. R. Dana, M. Jeanblanc, Financial Markets in Continuous Time (Springer, Berlin, 2003)

    MATH  Google Scholar 

  2. F. Delbaen, W. Schachermayer, The Banach space of workable contingent claims in arbitrage theory. Ann. l’IHP 33(1), 114–144 (1997)

    MathSciNet  MATH  Google Scholar 

  3. F. Delbaen, W. Schachermayer, The fundamental theorem of asset pricing for unbounded stochastic processes. Math. Ann. 300, 463–520 (1998)

    Article  MathSciNet  Google Scholar 

  4. D. Duffie, Dynamic Asset Pricing Theory, 3rd edn. (Princeton University Press, Princeton, NJ, 2001)

    MATH  Google Scholar 

  5. R. Jarrow, An equilibrium capital asset pricing model in markets with price jumps and price bubbles. Q. J. Finance (2017, forthcoming)

    Google Scholar 

  6. R. Jarrow, M. Larsson, The meaning of market efficiency. Math. Finance 22(1), 1–30 (2012)

    Article  MathSciNet  Google Scholar 

  7. I. Karatzas, C. Kardaras, The Numeraire portfolio in semimartingale financial models. Finance Stoch. 11, 447–493 (2007)

    Article  MathSciNet  Google Scholar 

  8. I. Karatzas and S. Shreve, Methods of Mathematical Finance (Springer, Berlin, 1999)

    MATH  Google Scholar 

  9. R.C. Merton, Continuous Time Finance (Basil Blackwell, Cambridge, MA, 1990)

    MATH  Google Scholar 

  10. R. Radner, Equilibrium under uncertainty. Econometrica 36(1), 31–58 (1982)

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

Copyright information

© 2018 Springer International Publishing AG, part of Springer Nature

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Jarrow, R.A. (2018). Equilibrium. In: Continuous-Time Asset Pricing Theory. Springer Finance(). Springer, Cham. https://doi.org/10.1007/978-3-319-77821-1_13

Download citation

Publish with us

Policies and ethics