Complete and Competitive Financial Markets in a Complex World
University of Milan Bicocca Department of Economics, Management and Statistics Working Paper No. 435
21 Pages Posted: 11 Mar 2020
Date Written: March 11, 2020
Abstract
We investigate the possibility of completing financial markets in a model with no exogenous probability measure and market imperfections. A necessary and sufficient condition is obtained for such an extension to be possible.
JEL Classification: G10, G12
Suggested Citation: Suggested Citation
Cassese, Gianluca, Complete and Competitive Financial Markets in a Complex World (March 11, 2020). University of Milan Bicocca Department of Economics, Management and Statistics Working Paper No. 435, Available at SSRN: https://ssrn.com/abstract=3552528 or http://dx.doi.org/10.2139/ssrn.3552528
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