Skip to Main content Skip to Navigation
Reports

The Relevance of Extrinsic Uncertainty

Abstract : When the asset market is incomplete extrinsic risk is effective at competitive equilibrium allocations; this is the case whether commodities are exchanged indirectly, through the exchange of assets, or whether assets serve to transfer revenue and commodities are exchanged in spot markets. Individuals bear extrinsic risk for the benefit of exchanging commodities or transferring revenue in the absence of complete markets for the allocation of intrinsic risk.
Complete list of metadatas

https://hal-hec.archives-ouvertes.fr/hal-00598239
Contributor : Antoine Haldemann <>
Submitted on : Sunday, June 5, 2011 - 2:59:43 PM
Last modification on : Thursday, September 10, 2020 - 3:42:51 PM

Identifiers

  • HAL Id : hal-00598239, version 1

Collections

Citation

Heracles M. Polemarchakis, Luigi Ventura. The Relevance of Extrinsic Uncertainty. 2000. ⟨hal-00598239⟩

Share

Metrics

Record views

192