We study the problem of minimal initial capital needed in order to hedge a European contengent claim without risk. The financial market presents incompleteness arising from two sources: stochastic volatility and portfolio constraints described by a closed convex set. In contrast with previous...

Dans ce document, on itudie le seigneuriage dans un modhle ` ginirations imbriquies avec contrainte de liquiditi. La monnaie criie par le gouvernement sert ` financer un bien public. On considhre d'abord le cas oy c'est le seul instrument de financement, le bien public correspondant ` un...

This article is aimed at the reconsideration of Ramsey long-run distribution concerns, i.e., the so-called impatience problem, when consumption paths display homothetic growth. Is it possible for heterogeneous agents to survive in the course of an equilibrium characterised by a common growth...

This paper shows how to make hold the conjecture stated in Maskin an Tirole about the existence of a close connection between the finite, markovian stationary equilibria of a simple overlapping generations economy and the correlated equilibria of an associated finite exchange economy with...

Galois connections (or residuated mapping) are of growing interest in various domains related with or relevant from Classification. Among their many uses, we select some topics related with modelization and aggregation of dissimilarities and conceptual classification. We partially revist them in...

We consider a financial market consisting of a nonrisky asset and a risky one. We study the minimal initial capital needed in order to super-replicate a given contingent claim under the Gamma constraint, i.e. a constraint on the unbounded variation part of the hedging porfolio. In the general...

In a first time we draw a rough shape of a general formal framework for polynomial approximation theory which encompasses the existing one by allowing the expression of new types of results. We show how this framework incorporates all the existing approximation results and, moreover, how new...