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Asset Prices in an Exchange Economy
Robert E. Lucas, Jr.
Vol. 46, No. 6 (Nov., 1978), pp. 1429-1445
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1913837
Page Count: 17
You can always find the topics here!Topics: Equilibrium prices, Prices, Consumer economics, Economic theory, Consumer prices, Approximation, Mathematical functions, Martingales, Rational expectations theory, Economic expectations
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This paper is a theoretical examination of the stochastic behavior of equilibrium asset prices in a one-good, pure exchange economy with identical consumers. A general method of constructing equilibrium prices is developed and applied to a series of examples.
Econometrica © 1978 The Econometric Society