precision equilibrium payoffs and Nash equilibria of otherwise very challenging problems, and even some which go beyond the …

We provide results on the existence and uniqueness of equilibrium in dynamically incomplete financial markets in … the financial market we show that a one-fund theorem holds and give an explicit expression for the equilibrium pricing … kernel. If the underlying noise is generated by finitely many Bernoulli random walks, the equilibrium dynamics can be …

, given by their individual states of asset and income endowment pairs. However, the question remains open if the equilibrium … stationary equilibrium distribution of agents by showing that it must also be one that is nontrivial or nondegenerate …

prove an abstract existence result for a Nash equilibrium of our public good contribution game. Also, we show that our model …

. Even if they exist, bubbles are temporary and the economy converges to a bubbleless equilibrium with probability one. We …

theoretically determine that the equilibrium exists and investigate its stability. Second, we establish the general conditions for …

Measuring the performance of stock portfolios that include options is challenging due to options' nonlinearity in the … nonlinearity related to both risk factors, the underlying and the volatility. We run a simulation analysis to analyze the size of …

perceived risks. The complexity and changing nature of the world in which agents operate make all markets incomplete, which … dynamic equilibrium pricing and optimal design of new financial securities. Our mathematical tool for studying trading market … economic agent, equilibrium pricing of new securities amongst multiple agents, and the optimal design of new securities. Our …