Existence of equivalent martingale measures in finite dimensional securities markets

Article Abstract:

The existence of martingale measures in the securities markets with finite event-free structures is determined using a set of price-dividend system. A strict positive probability component shown by traded securities during normal price and dividend conditions indicates a martingale property. Although the event-free structure of the securities market precludes the self-financing strategies that maintains positive value, it does not discount the existence of martingale measures.

Security brokers and dealers, Securities and Commodity Contracts Intermediation and Brokerage, Securities & Investment Svcs, Usage, Securities, Capital assets, Arbitrage, Martingales (Mathematics), Investment services

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Existence and characterization of optimal employment contracts on a continuous state space

Article Abstract:

An analysis of optimal labor contracts under conditions of continuous state space is presented. The analysis focuses on a group of incentive compatible contracts and sets existence and absolute continuity conditions. It is shown that such conditions generate an optimal wage employment contract which adjusts to a value continuum under private information markets.

Labor contracts

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Existence and Fairness of Value Allocation without Convey Preferences

Article Abstract:

The ordinal value allocation existence theory is extended to both the non-convey pareto set and the non-convey and non-monotoral preferences. In a finite exchange economy approximate value allocations exist. Value allocations are found not to satisfy an equity criterion.

Valuation, Resource allocation

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