Browsing Department of Economics by Author "Le Van, Cuong"
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Le Van, Cuong; Page, Frank H.; Wooders, Myrna H. (Vanderbilt University, 2005)We introduce a no-risky-arbitrage price (NRAP) condition for asset market models allowing both unbounded short sales and externalities such as trading volume. We then demonstrate that the NRAP condition is sufficient for ...