## A reinterpretation of the equilibrium theory of Arrow and Debreu in terms of financial markets |

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### Contents

CHAPTER Page | 4 |

THE MARKET STRUCTURE OF THE ECONOMY | 10 |

h EQUILIBRIUM IN THE FINANCIAL MARKETS | 50 |

2 other sections not shown

### Common terms and phrases

amount b(a Arrow Arrow-Debreu equilibrium Arrow-Debreu market structure Arrow-Debreu model Arrow-Debreu price system assumption chapter continuous function Debreu l959 defined Definition Doctor of Philosophy economy equations financial equilibrium financial market equilibrium financial market structure financial price system financial valuation system fineness property finite dimensional consumer finite dimensional financial finite set follows function f h G E Hamel basis homogeneity ij ij implies income allocation matrix induced Let h linear combination linear functional linear space linear subspace linearly independent subset maximal element n+l n+l nonsatiation by events Notation null space optioned commodity options portfolio options price systems Pareto efficient partially ordered set period Pf(X previous lemma price level production plan Proof Proposition 3.ll real valued function set of pairs shown spot market spot price systems spot value stock prices striking prices supply correspondence Theory of Value tion tree vector space xi,ei,qi