5 Multiple-Periods Model

Thorsten Hens and Marc Oliver Rieger
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Thorsten Hens: University of Zurich
Marc Oliver Rieger: University of Trier

A chapter in Solutions to Financial Economics, 2019, pp 165-180 from Springer

Abstract: Abstract Financial market is complete if any consumption stream can be attained with at least one initial wealth. The necessary and sufficient condition for a financial market to be complete is that each two-period submarket is complete.

Date: 2019
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DOI: 10.1007/978-3-662-59889-4_13

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