Abstract
In a frictionless market1 it follows from the Law of One Price2 that a market pricing kernel3 \(\tilde \varphi _{t + 1} \) exists for each date t such that the ex-dividend price \(P_t^i \) of any asset i can be calculated from the equation
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© 1999 Springer-Verlag Berlin Heidelberg
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Meyer, B. (1999). The Market Pricing Kernel Approach. In: Intertemporal Asset Pricing. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-58672-9_2
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DOI: https://doi.org/10.1007/978-3-642-58672-9_2
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-1159-9
Online ISBN: 978-3-642-58672-9
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