Satterthwaite, Mark Allen (contributor); … - 2003 - [Elektronische Ressource]
sufficiently small, provided the discount
rate is small relative to the participation costs.
∗
Kellogg School of Management … common knowledge also converge to the competitive equilibrium.
The former models are unrealistic in that they assume traders …−k
. Poisson’s theorem (see, for example, Shiryaev, 1995) shows that
lim
M→∞
π
M
k
= π
k
.
7
common knowledge among all active and …