When the asset market is incomplete extrinsic risk is effective at competitive equilibrium allocations; this is the case whether commodities are exchanged indirectly, through the exchange of assets, or whether assets serve to transfer revenue and commodities are exchanged in spot markets. Individuals bear extrinsic risk for the benefit of exchanging commodities or transferring revenue in the absence of complete markets for the allocation of intrinsic risk.
The relevance of extrinsic uncertainty / Polemarchakis, H; Ventura, Luigi. - In: ANNALES D'ECONOMIE ET DE STATISTIQUE. - ISSN 0769-489X. - 62(2001), pp. 175-191.
Scheda prodotto non validato
Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo
Titolo: | The relevance of extrinsic uncertainty |
Autori: | |
Data di pubblicazione: | 2001 |
Rivista: | |
Citazione: | The relevance of extrinsic uncertainty / Polemarchakis, H; Ventura, Luigi. - In: ANNALES D'ECONOMIE ET DE STATISTIQUE. - ISSN 0769-489X. - 62(2001), pp. 175-191. |
Handle: | http://hdl.handle.net/11573/50125 |
Appartiene alla tipologia: | 01a Articolo in rivista |