Financial Innovation, Values and Volatilities when Markets Are Incomplete*

The Pricing of Options and Corporate Liabilities

1973 • 29,036 citations

Theory of rational option pricing

2005 • 7,870 citations

Theory of Rational Option Pricing

1973 • 7,693 citations

Martingales and arbitrage in multiperiod securities markets

1979 • 3,734 citations

The Role of Securities in the Optimal Allocation of Risk-bearing

1973 • 1,203 citations

The Role of Securities in the Optimal Allocation of Risk-bearing

1964 • 1,125 citations

Options and Efficiency

1976 • 851 citations

On the optimality of equilibrium when the market structure is incomplete

1975 • 769 citations

Existence, regularity, and constrained suboptimality of competitive allocations when the asset market is incomplete

1986 • 366 citations

An Analysis of the Implications for Stock and Futures Price Volatility of Program Trading and Dynamic Hedging Strategies

1988 • 336 citations

Equilibrium in incomplete markets: I

1985 • 280 citations

Option listing and stock returns

1990 • 218 citations

Equilibrium in economies with incomplete financial markets

1985 • 148 citations

6. Real Indeterminacy with Financial Assets

2016 • 136 citations

Changes in the Financial Market: Welfare and Price Effects and the Basic Theorems of Value Conservation

1982 • 129 citations

Spanning and completeness in markets with contingent claims

1987 • 122 citations

Stochastic equilibria with incomplete financial markets

1987 • 96 citations

A characterization of the optimality of equilibrium in incomplete markets

1977 • 93 citations

The Fantastic World of Finance: Progress and the Free Lunch

1979 • 47 citations

Options and equilibrium

1990 • 46 citations

Market Resolution and Valuation in Incomplete Markets

1984 • 31 citations

Existence of competitive equilibria for option markets

1989 • 13 citations

Deleted Work

1955 • 0 citations