We consider an exchange economy under incomplete financiaI markets with purely financiaI securities and finitely many agents. When portfolios are not constrained, Cass [4], Duffie [7] and Florenzano-Gourdel [12] proved ...

his book focuses on extending the models and theories (from a mathematical/statistical point of view) which were introduced in the first volume to a more technical level. Where volume I provided an introduction to the ...

The present scenery that companies are inserted on, in a competitive and highly dynamic market, where all kind of technology influences on the results of economics matters and social culture development demands the patrimony ...

This paper presents a study of the mathematics used to calculate prices and rates existing in the Brasilian Direct Treasury. It presents the rules and regulations established by the National Treasury for the purchase and ...

This paper studies a class of general equilibrium economies in which the individuals' endowments depend on privately observed effort choices and the financial markets are endogenous. The environment is modeled as a two-stage ...