Showing 1 - 2 of 2
Supplementing a finite state-space static securities market with options written on an injective claim obtains market completeness. This study concludes that options maintain this spanning property in the infinite state-space static securities market models of interest in the extant literature....
Persistent link: https://www.econbiz.de/10005216667
In a seminal contribution, Ross (1976) showed that a static finite state-space market can be completed by supplementing the primitive securities with ordinary call and put options. Galvani (2009) extends this result to norm separable Lp-spaces, with 1=p[infinity]. This study concludes that...
Persistent link: https://www.econbiz.de/10008870887