Cass transversality condition and sequential asset bubbles

The objective of this paper is to illustrate the connection existing between the asymptotic value of a certain random series and the absence of asset pricing valuation bubbles in stochastic economies with sequential markets. This series, in turn, is closely related to the one proposed by Cass to characterize efficient accumulation paths in Solow models. Copyright Springer-Verlag Berlin/Heidelberg 2004

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Year of publication:	2004
Authors:	Montrucchio, Luigi
Published in:	Economic Theory. - Springer. - Vol. 24.2004, 3, p. 645-663
Publisher:	Springer
Subject:	Bubbles \| Transversality conditions \| Sequential asset markets

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005370704