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1.14. Suppose (D,q) admits no arbitrage. Show that there is a unique state-price vector if and only if markets are complete. Dynamic asset pricing theory
1.14. Suppose (D,q) admits no arbitrage. Show that there is a unique state-price vector if and only if markets are complete.
Dynamic asset pricing theory chapter 1, Darrell Duffie
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International Financial Management
Authors: Geert Bekaert, Robert Hodrick
3rd edition
1107111820, 110711182X, 978-1107111820
