PL EN


2009 | 56 | 9 | 769-789
Article title

PRICING OF DERIVED PRODUCTS AND PROBLEMS WITH IT IN TERMS OF EQUILIBRIUM THEORY (A szarmaztatott termekek arazasa es annak problemai az egyensulyelmelet szempontjabol)

Authors
Title variants
Languages of publication
HU
Abstracts
EN
The author sums up briefly the main aspects and problems to do with the pricing of derived products. The theory of derivative pricing uses the redundancy among products on the market to arrive at relative product prices. But this can be done only on a complete market, so that only with a complete market does it become possible to omit from the theory and the practice built upon it the concept of utility functions, and for that reason the principle of risk-neutral pricing is misleading. To put it another way, the theory of derived products is capable of freeing itself from the concept of utility functions only at a price where in practice it places impossible restrictions on the market structure. This it is essential to emphasize in market practice and in teaching.
Keywords
Year
Volume
56
Issue
9
Pages
769-789
Physical description
Document type
ARTICLE
Contributors
  • Peter Medvegyev, no address given, contact the journal editor
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
10HUAAAA078817
YADDA identifier
bwmeta1.element.227d4b18-5472-306b-a747-3c057b100647
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.