Existence and Uniqueness of Equilibria in the CAPM with a Riskless Asset

In the standard CAPM with a riskless asset we prove existence of equilibria without assuming concavity of the investor's utility functions. Moreover, we give a uniqueness result using assumptions on the risk aversion of investors.

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Year of publication:	1995-12
Authors:	Hens, Torsten ; Löffler, Andreas
Institutions:	University of Bonn, Germany
Subject:	CAPM \| uniqueness \| existence \| risk aversion

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Series:	Discussion Paper Serie A.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Sonderforschungsbereich 303, University of Bonn, Germany 13 pages
Classification:	G10 - General Financial Markets. General ; C62 - Existence and Stability Conditions of Equilibrium
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004968125