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Politico-Economic Theories

C/F/1209. Role of Financial Markets in a World of Uncertainty

WORDS:
2400
DATE:
2011
PRICE:
29.99 GBP

The paper looks at the features of imperfect markets in conditions of economic uncertainty examining the concept of uncertainty along the lines of the ‘excepted utility’ function and Arrow-Debreu theory. The role of financial markets in creating and removing uncertainty is analysed.

 

KEYWORDS: imperfect markets, uncertainty, excepted utility, Arrow-Debreu,

 
Other Papers On: Capital Markets