Optimum Allocation of Risk in a Market With Many Traders

Yaffa Caspi
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Yaffa Caspi: The Hebrew University

Chapter 6 in Allocation under Uncertainty: Equilibrium and Optimality, 1974, pp 89-97 from Palgrave Macmillan

Abstract: Abstract In a market with ‘many’ traders who bear risks, there is the possibility of pooling their independent risks and in this way to eliminate traders’ risks. There is a benefit from trade, and the way this benefit is divided between the traders depends on the system of exchange.

Keywords: Optimum Allocation; Pareto Optimum; Large Market; Competitive Equilibrium; Initial Endowment (search for similar items in EconPapers)
Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-01989-2_6

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DOI: 10.1007/978-1-349-01989-2_6

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