{"entities":{"Q1567196":{"pageid":1577936,"ns":120,"title":"Item:Q1567196","lastrevid":72211920,"modified":"2026-04-14T03:22:17Z","type":"item","id":"Q1567196","labels":{"en":{"language":"en","value":"Transaction costs and a redundant security: Divergence of individual and social relevance"}},"descriptions":{"en":{"language":"en","value":"scientific article; zbMATH DE number 1455526"}},"aliases":{},"claims":{"P31":[{"mainsnak":{"snaktype":"value","property":"P31","hash":"fd5912e4dab4b881a8eb0eb27e7893fef55176ad","datavalue":{"value":{"entity-type":"item","numeric-id":56887,"id":"Q56887"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$919226C2-8DAD-4320-81B5-D39A31CB8B82","rank":"normal"}],"P159":[{"mainsnak":{"snaktype":"value","property":"P159","hash":"09976e9abdd29899d1e019d641adb0d5c7a95880","datavalue":{"value":{"text":"Transaction costs and a redundant security: Divergence of individual and social relevance","language":"en"},"type":"monolingualtext"},"datatype":"monolingualtext"},"type":"statement","id":"Q1567196$5AD84F86-F260-41D9-90E6-EB959B9874E4","rank":"normal"}],"P225":[{"mainsnak":{"snaktype":"value","property":"P225","hash":"fe87305ba38db454462d7ed59a0b2d386a667040","datavalue":{"value":"0959.91018","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$EE404817-CF3D-4A4F-A286-379C16D01780","rank":"normal"}],"P27":[{"mainsnak":{"snaktype":"value","property":"P27","hash":"e0196e86dcc6f0e7b93f79e387539471ca931d26","datavalue":{"value":"10.1016/S0304-4068(99)00015-4","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$993E2647-F16D-4AA3-9D19-EA15DAF19460","rank":"normal"}],"P16":[{"mainsnak":{"snaktype":"value","property":"P16","hash":"65cb625f7de3bf3237f027f5c0ef3a62ce7c3599","datavalue":{"value":{"entity-type":"item","numeric-id":433149,"id":"Q433149"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$1330576D-2223-48DD-9EEF-EE3B93749CB8","rank":"normal"}],"P200":[{"mainsnak":{"snaktype":"value","property":"P200","hash":"e4c2e988e5006d85760634c8bd82b90d5dc4af6e","datavalue":{"value":{"entity-type":"item","numeric-id":176927,"id":"Q176927"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$F2DF6523-8811-4003-AEC7-1C060FF37FC4","rank":"normal"}],"P28":[{"mainsnak":{"snaktype":"value","property":"P28","hash":"a780d61a62af0991bc6e88cb070a7586b6b04fc3","datavalue":{"value":{"time":"+2001-04-26T00:00:00Z","timezone":0,"before":0,"after":0,"precision":11,"calendarmodel":"http://www.wikidata.org/entity/Q1985727"},"type":"time"},"datatype":"time"},"type":"statement","id":"Q1567196$895BEFDA-0B04-4AFC-A9B7-A540DA7A42F0","rank":"normal"}],"P1448":[{"mainsnak":{"snaktype":"value","property":"P1448","hash":"c977746fa9619526a9c33200e3e554f1a602f407","datavalue":{"value":"A dynamic model of a security market with two periods is examined. A security that provides a holder with risk-hedging which cannot be replaced by a portfolio of the other securities is named irredundant. A securitywithout this property is called redundant. However, the redundant security may be cheaper than the portfolio having the same risk. The author constructs a dynamic utility maximization model with budget restriction for this case and demonstrates that in the second period a situation with a difference between the equilibrium at the security market and the utility maximizing solution for the individual holder may appear. This effect is illustrated by a concrete example. The author applies methods of functional analysis and proves that the difference between two solutions is robust under some variations of parameters of the initial model.","type":"string"},"datatype":"string"},"type":"statement","id":"Q1567196$83DE5621-62B4-4B7E-B661-283EBF79698B","rank":"normal"}],"P226":[{"mainsnak":{"snaktype":"value","property":"P226","hash":"6e419163fd9b5f210c8c0c28cdb07c2197a2bcac","datavalue":{"value":"91B26","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$1921CE5A-CF42-4005-81B8-CE080D5E92E5","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P226","hash":"b0e497fa25972a5e8a0353b17744210646653683","datavalue":{"value":"91B24","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$87CBE3C6-F0D8-4FFE-861A-0A75156C384D","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P226","hash":"d1923cd7804d3e78e970744702eed8f8e5a5b4ae","datavalue":{"value":"91B42","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$DA61BED3-0D3C-45F5-A971-050A2DF21349","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P226","hash":"147c8a720e6d6c185b949f7a2752aaaafdb28188","datavalue":{"value":"46N10","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$DFB598F6-075E-4F68-85B5-078B4A4C1B48","rank":"normal"}],"P1451":[{"mainsnak":{"snaktype":"value","property":"P1451","hash":"7909c6fc92577b5fbd1f31fd2f34e5b5d3bfe5fa","datavalue":{"value":"1455526","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$1D557A8A-4266-4AC3-ABBA-9A53BA8671EC","rank":"normal"}],"P1450":[{"mainsnak":{"snaktype":"value","property":"P1450","hash":"48e8798eb70de8d4e84ed3ce8047b0821c885530","datavalue":{"value":"security market","type":"string"},"datatype":"string"},"type":"statement","id":"Q1567196$19AB3D47-FBA4-49E5-9092-7B6C688F2529","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1450","hash":"1458859d7b633a485e6b4e8c181c3bfc656c704f","datavalue":{"value":"transaction costs","type":"string"},"datatype":"string"},"type":"statement","id":"Q1567196$BC99FD39-C530-4251-B335-FA5A97E4208F","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1450","hash":"ee2236b5dbba2059c6f23b7530799c18fe9a86fa","datavalue":{"value":"pecuniary externality","type":"string"},"datatype":"string"},"type":"statement","id":"Q1567196$0E9E3AE8-E066-4E9E-8C2D-E12B82EFA1FD","rank":"normal"}],"P1460":[{"mainsnak":{"snaktype":"value","property":"P1460","hash":"57f7fea50d2ce1b39b695c4a1313582eed405e38","datavalue":{"value":{"entity-type":"item","numeric-id":5976449,"id":"Q5976449"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$E890590D-A3F1-4E11-A101-A3EB40704EB3","rank":"normal"}],"P223":[{"mainsnak":{"snaktype":"value","property":"P223","hash":"c539578df0507627a7d5cf1d3031a20d561b6148","datavalue":{"value":{"entity-type":"item","numeric-id":1300212,"id":"Q1300212"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$9DDFE439-F247-4892-ADA2-10767D6CC72C","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"d9d776ee9029e57172d7ab66d986e762358cf8e1","datavalue":{"value":{"entity-type":"item","numeric-id":756628,"id":"Q756628"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$081CAC26-B782-4A6D-8461-0BB92E263AF2","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"1e02758fe241977c3711114bdfc6dc560f14b29c","datavalue":{"value":{"entity-type":"item","numeric-id":4345924,"id":"Q4345924"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$11C94F2F-03D5-4BD0-9B29-8A04D47FE286","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"8fde11b1a5da97601372eb861b40c1fd8ad7b5e4","datavalue":{"value":{"entity-type":"item","numeric-id":1804627,"id":"Q1804627"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$3DC65942-095E-48C9-9502-44EF85C02601","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"85f7f23c1564dba94fc6d4aedc21081b57272939","datavalue":{"value":{"entity-type":"item","numeric-id":5455556,"id":"Q5455556"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$934BD62A-DA5F-46DE-ADD1-1F556218089F","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"2d80a62cabfc6a67cd1fdf631bed5e9e08efbf7e","datavalue":{"value":{"entity-type":"item","numeric-id":5668584,"id":"Q5668584"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$03F4AC86-8367-4B73-8420-F3F51CFCC34E","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"be513ab7126f8dddd344a031d39d73ae3445a864","datavalue":{"value":{"entity-type":"item","numeric-id":1217010,"id":"Q1217010"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$E47E66D5-4CE6-4804-BC55-98D6DC5B40D2","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"361dcf8db41908c4291b6e5cfae3bf413dd404e0","datavalue":{"value":{"entity-type":"item","numeric-id":5183238,"id":"Q5183238"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$52CDF8C5-16D1-41FE-891C-CF7509B7B50C","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"9b9f6ab92cb2488645b8f2eb3535d23e697cb2fd","datavalue":{"value":{"entity-type":"item","numeric-id":1804633,"id":"Q1804633"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$3843A8A7-FAFB-4EB5-9347-4ADC48CDA451","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"f35bf5a9614bb5c2488b11f70ba832a0a88fd788","datavalue":{"value":{"entity-type":"item","numeric-id":1389477,"id":"Q1389477"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$6A46AAAA-2CC0-484E-ADE6-F8ED66172048","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"b561f208acd95796cdb16c78f151971ee03554ac","datavalue":{"value":{"entity-type":"item","numeric-id":4121644,"id":"Q4121644"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$7DB6AAD6-CF8B-4177-85FF-C817E85EF1F5","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"7738c22c1a22e28422bc38e3487d85852e8cbc38","datavalue":{"value":{"entity-type":"item","numeric-id":1311227,"id":"Q1311227"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$01122CAC-3EF8-401D-9936-0EEA1E3555F0","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"8b86ab0bb768d9f2e474cd75485377da3e510044","datavalue":{"value":{"entity-type":"item","numeric-id":1897315,"id":"Q1897315"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$08C6B860-E385-41BA-82C2-B56B27BE35A0","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"e9f6b2d7c5bac265e2dfb3639aa41c4aa2d278e6","datavalue":{"value":{"entity-type":"item","numeric-id":3126234,"id":"Q3126234"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1567196$7639B8F1-705A-4317-BF2D-5D2E4AFA23D6","rank":"normal"}],"P205":[{"mainsnak":{"snaktype":"value","property":"P205","hash":"a1dfab8980a1831cdeccd9b801a6aa58c4e64f8c","datavalue":{"value":"https://doi.org/10.1016/s0304-4068(99)00015-4","type":"string"},"datatype":"url"},"type":"statement","id":"Q1567196$DAF82135-0B8B-4039-85D7-B9FB0FEA1A93","rank":"normal"}],"P388":[{"mainsnak":{"snaktype":"value","property":"P388","hash":"97fad85f334e4dce1e39008370043376dcc08b73","datavalue":{"value":"W1584894327","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1567196$34766EC9-CEE8-44B8-8D2E-F5F233C5E5BD","rank":"normal"}],"P1643":[{"mainsnak":{"snaktype":"value","property":"P1643","hash":"412222ffad74fab38308dcf7871d5e3c96e37ff0","datavalue":{"value":{"entity-type":"item","numeric-id":1017021,"id":"Q1017021"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"cb4217936d5a38064a173bed6bee715b4c29fd59","datavalue":{"value":{"amount":"+0.7105171084403992","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1567196$D9D4FAF3-25C9-4685-BB5F-3F63D19A988D","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"6250d6b611de06172be63b307327d2b544c8f0c2","datavalue":{"value":{"entity-type":"item","numeric-id":873903,"id":"Q873903"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"2619a5f2d5d787e3d31d7492a9548708e848ad8f","datavalue":{"value":{"amount":"+0.7088810801506042","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1567196$7B5D8CFB-5A0B-42D6-B07E-DF2A364B7024","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"522a7919ac57f8be8d626d14a51d8b614a35d23b","datavalue":{"value":{"entity-type":"item","numeric-id":2351403,"id":"Q2351403"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"6b32f8c3102d1a2000a6b4140f4dd1a2900994ee","datavalue":{"value":{"amount":"+0.7059003114700317","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1567196$336A5C57-9FDE-467C-89CC-1E4E70F62FF2","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"4dd7959fda04ab43a2dbbcfb0362d262e72783fa","datavalue":{"value":{"entity-type":"item","numeric-id":2022762,"id":"Q2022762"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"e5161c1aeaa7cb365d66a36bd94524e111269a75","datavalue":{"value":{"amount":"+0.6965816617012024","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1567196$EF0F8AA3-ADFC-45C3-9D6A-8369BE9E8E4A","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"65b1faebecf190a4ad9c828f7dc4e418a8481a1b","datavalue":{"value":{"entity-type":"item","numeric-id":2940760,"id":"Q2940760"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"0aec15227fbd6aab5d3c96486b9e488c5368d3b2","datavalue":{"value":{"amount":"+0.6964520812034607","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1567196$A3D076AC-7C9E-410D-AB7B-5AE69CB885BE","rank":"normal"}]},"sitelinks":{"mardi":{"site":"mardi","title":"Transaction costs and a redundant security: Divergence of individual and social relevance","badges":[],"url":"https://portal.mardi4nfdi.de/wiki/Transaction_costs_and_a_redundant_security:_Divergence_of_individual_and_social_relevance"}}}}}