Options and Efficiency in Spaces of Bounded Claims

Valentina Galvani and Vladimir Troitsky ()
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Vladimir Troitsky: University of Alberta, Postal: Department of Mathematics and Statistical Sciences, 632 CAB, Edmonton, AB T6G 2G1

No 2009-4, Working Papers from University of Alberta, Department of Economics

Abstract: Supplementing a finite state-space static securities market with options obtains market completeness. This study concludes that options maintain the same spanning power in the space of bounded payoff topologized by its duality with the space of the state price densities.

Keywords: spanning; options; market completeness; efficiency (search for similar items in EconPapers)
JEL-codes: C00 D61 G10 G12 G19 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2009-01-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Options and efficiency in spaces of bounded claims (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:albaec:2009_004

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