Communication of Aggregate Preferences through Market Prices

Alan Kraus and Gordon A. Sick

Journal of Financial and Quantitative Analysis, 1979, vol. 14, issue 4, 695-703

Abstract: In a dynamic economy with a sequence of markets over time, there are generally goods or securities that will be traded in the future at currently unknown prices. Individuals require some notion of what these future prices will be since knowledge of future investment opportunity sets is relevant when making current portfolio allocation decisions.

Date: 1979
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