Investors often wish to insure themselves against the payoff of their portfolios falling below a certain value. One way of doing this is by purchasing an appropriate collection of traded securities. However, when the derivatives market is not complete, an investor who seeks portfolio insurance...

The paper studies the two period incomplete markets model where assets are claims on state contingent commodity bundles and there are no bounds on portfolio trading. The important results on the existence of equilibrium in this model assume that there is a finite number of commodities traded in...

We consider properties of estimators that can be written as vector lattice (Riesz space) operations. Using techniques widely used in economic theory, we study the approximation properties of these estimators. We also provide two algorithms RIESZVAR(i-ii) for consistent parametric estimation of...

An F-cone is a pointed and generating convex cone of a real vector space that is the union of a countable family of finite dimensional polyedral convex cones such that each of which is an extremel subset of the subsequent one. In this paper, we study securities markets with countably many...

An F-cone is a pointed and generating convex cone of a real vector space that is the union of a countable family of finite dimensional polyedral convex cones such that each of which is an extremel subset of the subsequent one. In this paper, we study securities markets with countably many...

This paper studies production economies in a commodity space that is an ordered locally convex space. We establish a general theorem on the existence of equilibrium without requiring that the commodity space or its dual be a vector lattice. Such commodity spaces arise in models of portfolio...