Two-Person Dynamic Equilibrium: Trading in the Capital Market
收藏NBER1986-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w2016
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资源简介：
When several investors with different risk aversions trade competitively in a capital market, the allocation of wealth fluctuates randomly between them and acts as a state variable against which each market participant will want to hedge. This hedging motive complicates the investors' portfolio
提供机构：
美国国家经济研究局
创建时间：
1986-09-01
