THE INEFFICIENCY OF THE STOCK-MARKET EQUILIBRIUM

[1] ARNOTT R, 1980, MORAL HAZARD INEFFIC

[2] THE ROLE OF SECURITIES IN THE OPTIMAL ALLOCATION OF RISK-BEARING [J]. REVIEW OF ECONOMIC STUDIES, 1964, 31 : 91 - 96

[3] EQUILIBRIUM IN A REINSURANCE MARKET [J]. ECONOMETRICA, 1962, 30 (03) : 424 - 444

[4] BORCH K, 1968, RISK UNCERTAINTY, P47

[5] Borch K, 1968, EC UNCERTAINTY

[6] Diamond PA, 1967, AM ECON REV, V57, P759

[7] DREZE J, 1974, ALLOCATION UNCERTAIN, pCH9

[8] VALUE MAXIMIZATION AND ALTERNATIVE OBJECTIVES OF FIRM [J]. JOURNAL OF FINANCE, 1977, 32 (02) : 389 - 402

[9] GROSSMAN SJ, 1980, Q J EC, P525

[10] OPTIMALITY OF EQUILIBRIUM WHEN MARKET STRUCTURE IS INCOMPLETE [J]. JOURNAL OF ECONOMIC THEORY, 1975, 11 (03) : 418 - 443

[1] ARNOTT R, 1980, MORAL HAZARD INEFFIC

[2] THE ROLE OF SECURITIES IN THE OPTIMAL ALLOCATION OF RISK-BEARING [J]. REVIEW OF ECONOMIC STUDIES, 1964, 31 : 91 - 96

[3] EQUILIBRIUM IN A REINSURANCE MARKET [J]. ECONOMETRICA, 1962, 30 (03) : 424 - 444

[4] BORCH K, 1968, RISK UNCERTAINTY, P47

[5] Borch K, 1968, EC UNCERTAINTY

[6] Diamond PA, 1967, AM ECON REV, V57, P759

[7] DREZE J, 1974, ALLOCATION UNCERTAIN, pCH9

[8] VALUE MAXIMIZATION AND ALTERNATIVE OBJECTIVES OF FIRM [J]. JOURNAL OF FINANCE, 1977, 32 (02) : 389 - 402

[9] GROSSMAN SJ, 1980, Q J EC, P525

[10] OPTIMALITY OF EQUILIBRIUM WHEN MARKET STRUCTURE IS INCOMPLETE [J]. JOURNAL OF ECONOMIC THEORY, 1975, 11 (03) : 418 - 443