On Uniqueness of Equilibria in the CAPM

In the standard CAPM with a riskless asset we give a sufficient condition for uniqueness. This condition is a joint restriction on the agents' endowments and their preferences which is compatible with non-increasing absolute risk aversion and which is in particularsatisfied with constant absolute risk aversion....

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Year of publication:	2000-07-01
Authors:	Hens, Thorsten ; Laitenberger, Jörg ; Löffler, Andreas
Publisher:	Institut für Empirische Wirtschaftsforschung <Zürich>
Subject:	Capital-Asset-Pricing-Modell \| Risikoaversion \| Kapitalmarkttheorie

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Extent:	384000 bytes 18 p. application/pdf
Series:	Universität Zürich - Institut für Empirische Wirtschaftsforschung - Publikationen Working Paper Series ; 2000, 39
Type of publication:	Book / Working Paper
Language:	English
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; G10 - General Financial Markets. General ; Financial theory ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005846442