Article ID Journal Published Year Pages File Type
1000160 The Spanish Review of Financial Economics 2012 12 Pages PDF
Abstract

Previous research on the effects of constraints to take unbounded positions in risky financial assets shows that, under the logarithmic utility function, multiplicity of equilibrium may emerge. This paper shows that this result is robust to either constant, decreasing or increasing relative risk aversion obtained under the generalized logarithmic utility function.

Related Topics
Social Sciences and Humanities Business, Management and Accounting Accounting
Authors
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