The Existence of Capital Market Equilibrium and Asset Demand Correspondences
In the vast literature analyzing the structure and properties of capital market equilibrium which has appeared since the development of the Sharpe-Lintner-Mossin model, only one attempt appears to have been made to prove that in fact capital market equilibria exist. Furthermore, it appears that capital market theory has represented by the Sharpe-Lintner-Mossin model and its many variations does not include a well- defined theory of asset demand and asset demand correspondences.
University of Illinois - Urbana-Champaign
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University of Illinois at Urbana-Champaign