Arbitrage and equilibrium with exchangeable risks

Aviad Heifetz, Enrico Minelli, Heracles M Polemarchakis

Research output: Working paper


In an economy with a non - atomic measure space of assets and exchangeable
risks, the Arbitrage Pricing Theory (APT) holds exactly; and factors are structurally specified, which allows for an economic interpretation.
Original languageAmerican English
Place of PublicationSet Center for Advanced Studies in Economic Theory
PublisherUniversity of Milan
Number of pages19
StatePublished - 1999

Bibliographical note

Working Paper n. 06/00


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