{"entities":{"Q2569180":{"pageid":2579923,"ns":120,"title":"Item:Q2569180","lastrevid":48570148,"modified":"2026-01-05T06:11:41Z","type":"item","id":"Q2569180","labels":{"en":{"language":"en","value":"Excess price volatility and financial innovation"}},"descriptions":{"en":{"language":"en","value":"scientific article; zbMATH DE number 2215027"}},"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":"Q2569180$E69448F9-D789-4376-9E87-B8448191C413","rank":"normal"}],"P159":[{"mainsnak":{"snaktype":"value","property":"P159","hash":"a41d09cd2b1336f5621d0e6730d9a57d47543f0c","datavalue":{"value":{"text":"Excess price volatility and financial innovation","language":"en"},"type":"monolingualtext"},"datatype":"monolingualtext"},"type":"statement","id":"Q2569180$E31C6DBF-51FE-49DB-897E-F2E9947AD04C","rank":"normal"}],"P225":[{"mainsnak":{"snaktype":"value","property":"P225","hash":"4a1738f025ff80e4efbf1f75ae383148384a2f95","datavalue":{"value":"1126.91026","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q2569180$323D2E67-9AF1-490A-930B-3F662078027E","rank":"normal"}],"P16":[{"mainsnak":{"snaktype":"value","property":"P16","hash":"188aad43c6287404497314c78709c99c38c056f8","datavalue":{"value":{"entity-type":"item","numeric-id":455922,"id":"Q455922"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q2569180$67C1E18F-CA11-47A3-8B4A-FAB82E8188F8","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P16","hash":"a07594e82ce30519c7c6e37b0a74eb014ba03fb3","datavalue":{"value":{"entity-type":"item","numeric-id":200444,"id":"Q200444"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q2569180$6DB915DA-5BA5-4FF5-ACC2-6BAF1FC67582","rank":"normal"}],"P200":[{"mainsnak":{"snaktype":"value","property":"P200","hash":"68143f6d277bb02adbea2879eaeff1303cbecc35","datavalue":{"value":{"entity-type":"item","numeric-id":166318,"id":"Q166318"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q2569180$F83119A0-B7D3-416F-AADC-B5F53B6C0D22","rank":"normal"}],"P28":[{"mainsnak":{"snaktype":"value","property":"P28","hash":"f6f7a1ea56bcdf0c7d7dc34b361f4f0413b22fb9","datavalue":{"value":{"time":"+2005-10-18T00:00:00Z","timezone":0,"before":0,"after":0,"precision":11,"calendarmodel":"http://www.wikidata.org/entity/Q1985727"},"type":"time"},"datatype":"time"},"type":"statement","id":"Q2569180$44DBD013-9790-4223-89E4-EC5931F80439","rank":"normal"}],"P1448":[{"mainsnak":{"snaktype":"value","property":"P1448","hash":"7d4ba005ba1d991837e815ef1877bc702c08690d","datavalue":{"value":"This paper assumes discrete time dynamic trading of the asset in a finite economy. It uses the frame work of Cass and Citanna (1998) and extends it to a multi-period trading. There are made several conclusions. In an economy with no aggregate risk, namely if the asset price shows zero volatility with a complete market, it is proved that financial innovation reducing the market incompleteness must reduce the price volatility. In an economy with aggregate risk, financial innovation reducing the price volatility does not necessarily reduce the market incompleteness. It also shows how to design volatility-reducing assets. The authors discuss two cases: When the designed new asset can be retraded, a comparison between incomplete and complete markets is possible. In the case of impossibility of retrading, the condition is weaker.","type":"string"},"datatype":"string"},"type":"statement","id":"Q2569180$6500A086-818A-4BA4-A8D2-64180FFB5650","rank":"normal"}],"P1447":[{"mainsnak":{"snaktype":"value","property":"P1447","hash":"23269c791ce381c3a2d28aea50d2e3f1474ee855","datavalue":{"value":{"entity-type":"item","numeric-id":811858,"id":"Q811858"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q2569180$B8EC4260-57AF-4389-903C-66239987E787","rank":"normal"}],"P226":[{"mainsnak":{"snaktype":"value","property":"P226","hash":"7b600a0bd525a05fa571487b461fe5ba90ad6e5d","datavalue":{"value":"91B28","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q2569180$754B7640-ED69-4C83-9696-A924729AD0FC","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P226","hash":"6e419163fd9b5f210c8c0c28cdb07c2197a2bcac","datavalue":{"value":"91B26","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q2569180$2CFB230F-621B-4A7A-B50D-4C2E1A2F4663","rank":"normal"}],"P1451":[{"mainsnak":{"snaktype":"value","property":"P1451","hash":"9c661c3d286ae7c42a3a7c17e541b7993d430391","datavalue":{"value":"2215027","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q2569180$E794EDFF-807F-423E-ABF9-01980D5153B6","rank":"normal"}],"P1450":[{"mainsnak":{"snaktype":"value","property":"P1450","hash":"7413e8d08f11aeedb47ef8a71423de1cb86f4d31","datavalue":{"value":"incomplete market","type":"string"},"datatype":"string"},"type":"statement","id":"Q2569180$274CEB48-A89B-422F-90BA-5A658D58E972","rank":"normal"}],"P1460":[{"mainsnak":{"snaktype":"value","property":"P1460","hash":"57f7fea50d2ce1b39b695c4a1313582eed405e38","datavalue":{"value":{"entity-type":"item","numeric-id":5976449,"id":"Q5976449"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q2569180$C767CA83-FC6F-4169-A24F-9DFE99F14C3E","rank":"normal"}],"P205":[{"mainsnak":{"snaktype":"value","property":"P205","hash":"ebd2a89b662087798cb1b31bb32c6b26be52c5ac","datavalue":{"value":"https://doi.org/10.1007/s00199-004-0532-2","type":"string"},"datatype":"url"},"type":"statement","id":"Q2569180$A195FE4D-B8CB-4BC7-AD0E-A5BE72532BC5","rank":"normal"}],"P388":[{"mainsnak":{"snaktype":"value","property":"P388","hash":"fadebce7c99a29998770684b4a9f2c66db3d5f81","datavalue":{"value":"W2026556576","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q2569180$3B8B62CB-84D5-4615-91DC-3E695EA7E65F","rank":"normal"}],"P27":[{"mainsnak":{"snaktype":"value","property":"P27","hash":"664dc520b03c7c33b8ea1c710fe29870d97196ba","datavalue":{"value":"10.1007/S00199-004-0532-2","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q2569180$BBBA2A72-4438-427C-97D9-D02590E44DDB","rank":"normal"}],"P1643":[{"mainsnak":{"snaktype":"value","property":"P1643","hash":"636b9ec7b409681f02b2616b4a2589c2a0df2a8b","datavalue":{"value":{"entity-type":"item","numeric-id":1128635,"id":"Q1128635"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"97ef303a028949a8f4aa498e8e9af74d670fdea7","datavalue":{"value":{"amount":"+0.7820109724998474","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":"Q2569180$7413F6ED-CE76-499A-9AAD-A17B7B015C95","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"7136d86f7d92dccc25ae26ca66c6e739be0c819d","datavalue":{"value":{"entity-type":"item","numeric-id":1804625,"id":"Q1804625"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"2b3a845627ba650b90e8c0fecc047fc139a468c1","datavalue":{"value":{"amount":"+0.7692899703979492","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":"Q2569180$6909BB19-7D3D-41D3-B633-2B36F4B399A9","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"d8ec0477e1456365a6419d44842d9052ea038045","datavalue":{"value":{"entity-type":"item","numeric-id":5945729,"id":"Q5945729"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"fd0886782e4db2ff79422dfe9aef38d1395c8cbe","datavalue":{"value":{"amount":"+0.7653710246086121","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q2569180$FE986EDE-3373-47C6-810E-34FC7355A259","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"9ebe99aed58a4e1d1908e128ebbd190c95fc19eb","datavalue":{"value":{"entity-type":"item","numeric-id":1804624,"id":"Q1804624"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"ce5b1f8488552f2c2f6faa1c5c3e1f6a032f64a6","datavalue":{"value":{"amount":"+0.7518883347511292","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":"Q2569180$E068E02F-7675-462D-BFF5-902AE1E5BF85","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"a3c610c605f23ff274133e8453faff4de94ec6f5","datavalue":{"value":{"entity-type":"item","numeric-id":1389232,"id":"Q1389232"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"87dce3755aaedd7058a2d427b12f2686bd9ff66b","datavalue":{"value":{"amount":"+0.7496256232261658","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":"Q2569180$3DA506DE-FF81-4A2A-A746-8F7654EC3524","rank":"normal"}]},"sitelinks":{"mardi":{"site":"mardi","title":"Publication:2569180","badges":[]}}}}}