Book Chapter

The Role of (Quasi) Analyticity in Establishing Completeness of Financial Markets Equilibria

Roberto Raimondo, Yakar KANNAI

Social Design | Springer Nature | Published : 2019


Existence of equilibrium in a continuous-time securities market in which the securities are endogenously dynamically complete has been proved only recently. Given the fundamental nature of this result various extensions have been proposed. In the present paper we prove all results under optimal condition. Namely, we only assume quasi-analyticity rather than analyticity of the basic economic ingredients, and we prove everything based solely on this hypothesis.

University of Melbourne Researchers