Polemarchakis, H; De Waegenaere, A; Ventura, L - Center for Operations Research and Econometrics (CORE), … - 1995
In a incomplete asset market, firms compute the value of production plans by approximating them with the payoffs of portfolios of marketed assets; equivalently, by projecting their payoffs on the span of the payoffs of marketed assets; equivalently, they apply the capital asset pricing model.