The purpose of this paper, which takes up after D. Cass (1984a, 1984b) is to find the degree of real indeterminacy inherent in models with purely financial assets. We solve the problem for the case where there are enough traders (precisely, the number of traders is larger than the number of...

This lecture offers thoughts on some issues concerning the effective development of the European space of higher education currently being pushed by the twin forces of the Bologna process and the Lisbon declaration of the EU. It is pointed out that the USA example is a good reference point but...