Contenu de l'article

Titre Incertitude, arbitrage et taux de change
Auteur Jean-Laurent Viviani
Mir@bel Revue Economie et prévision
Numéro no 123-124, 1996/2-3 Économie des taux de change
Rubrique / Thématique
Note
Page 223-228
Résumé anglais Uncertainty, Trade-Off and Exchange Rates by Jean Laurent Viviani Although we do not deny the pertinence of the explanations put forward for the existence of price brackets on the financial markets, we show that they could also be due to agents' rational behaviour in an environment to which probability cannot be applied. In this context, the aversion of agents to uncertainty is behind a difference between the purchase and sale price, which is compatible with the absence of trade-off opportunities.
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Article en ligne http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1996_num_123_2_5801