The no trade principle asserts that risk-neutral agents are not prepared to trade if and only if a common prior exists. The purpose of this article is to provide general versions of this principle. We first study the case when no topological assumption is made on the state space. Bets are...

This study investigates interrelated factor demands for a multi-output technology (voice and data output) in the Australian telecommunication industry over a long period of time (1922 through 1983). While a dynamic model would appear to be necessary to investigate disequilibrium associated with...