Dynamically-complete markets under Brownian motion: Online supplementary appendix
22 Pages Posted: 30 Aug 2019
Date Written: June 11, 2019
In this document, we provide the background results that support some of the arguments made
in the main text. We also present an example of a financial market which is part of a single-commodity, pure-exchange economy with many heterogenous agents where our sufficiency conditions ensure not only that the market is dynamically complete but also that the agents' portfolios are (everywhere) locally bounded.
Keywords: Dynamically-complete markets, Brownian motion, asset-pricing
JEL Classification: G1
Suggested Citation: Suggested Citation