We provide conditions on the primitives of a continuous-time economy under which there exist equilibria obeying the Intertemporal Consumption-Based Capital Asset Pricing Model (ICCAPM). We do not use a Markovian state assumption.
We provide conditions on the primitives of a continuous-time economy under which there exist equilibria obeying the Intertemporal Consumption-Based Capital Asset Pricing Model (ICCAPM). We do not use a Markovian state assumption.