This thesis is a theoretical study of financial and investment
decisions by consumers and producers in a market economy.
The study takes as its point of departure, the certainty, competitive
equilibrium theory of Arrow-Debreu, and demonstrates some well-known propositions
on the irrelevance of financial decisions and the unambiguous role of
value-maximization for production decisions.
Because a complete market system for all future contingencies is
unrealistic, the study proceeds to...[Show more]
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.