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Yusuke Osaki
''Dependent background risks and asset prices''
( 2005, Vol. 4 No.8 )
Dependent background risks which have functional forms are introduced into Lucas economies. This paper determines the conditions on preferences to guarantee the monotonicity of asset prices, when dependent background risks satisfy the monotonicity and the single crossing conditions.
Keywords: Asset price
JEL: D8 - Information, Knowledge, and Uncertainty: General
Manuscript Received : Jun 21 2005 Manuscript Accepted : Jun 22 2005

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