.png){kind=icon}
返回
Asset Price Bubbles
.png){kind=icon}
OA
AI
DOI：10.1146/annurev-financial-030215-035912.png)
.png){kind=icon}
.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
This article reviews the theoretical literature on asset price bubbles, with an emphasis on the martingale theory of bubbles. The key questions studied are as follows: First, under what conditions can asset price bubbles exist in an economy? Second, if bubbles exist, what are the implications for the pricing of derivatives on the bubble-laden asset? Third, if bubbles can exist, how can they be empirically determined. Answers are provided for three frictionless and competitive economies with increasingly restrictive structures. The least restrictive economy just assumes no arbitrage. The next satisfies no arbitrage and no dominance. The third assumes the existence of an equilibrium.
Keyword:
asset price bubbles
no arbitrage
no dominance
equilibrium
martingales
local martingales
derivatives
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
A
IF:
5.2
论文数:
0
被引数:
0
机构
引用论文
分享收藏Concurrence of stunting and overweight/obesity among children: Evidence from Ethiopia.png)
PLOS ONE
OAAI
PLOS ONEIF0
OAAI分享收藏
查看更多内容