Equilibrium in asset markets

  • Jorge Gregoire C. Universidad de Chile
  • Salvador Zurita Universidad de Chile

Abstract

This paper critically reviews the different models of equilibrium in asset markets. The survey includes the Sharpe-Lintner-Black model, and Roll´s critique, Merton´s intertemporal multibeta version in continuos time, the aggregate consumption model developed by Breeden, Ross´arbitrage pricing theory, and Grinblatt and Titman´s equilibrium arbitrage pricing theory in finite economies. Although the emphasis is on the theoretical work, the main empirical results are also outlined.
Keywords Equilibrium, Asset markets, Theoretical approach
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How to Cite
Gregoire C., J., & Zurita, S. (1994). Equilibrium in asset markets. Estudios de Administración, 1(1), 15-44. doi:10.5354/0719-0816.1994.56685
Section
Articles
Published
1994-06-06