The Valuation of Uncertain Income Streams and the Pricing of Options Export

@article{citeulike:1433236, abstract = {A simple formula is developed for the valuation of uncertain income streams consistent with rational risk averse investor behavior and equilibrium in financial markets. Applying this formula to the pricing of an option as a function of its associated stock, the Black-Scholes formula is derived even though investors can only trade at discrete points in time.}, author = {Rubinstein, Mark}, citeulike-article-id = {1433236}, citeulike-linkout-0 = {http://www.jstor.org/stable/3003264}, journal = {The Bell Journal of Economics}, keywords = {ccapm, consumption, yannick}, number = {2}, pages = {407--425}, posted-at = {2007-07-04 15:28:30}, priority = {2}, title = {The Valuation of Uncertain Income Streams and the Pricing of Options}, url = {http://www.jstor.org/stable/3003264}, volume = {7}, year = {1976} }

TY - JOUR ID - citeulike:1433236 L3 - citeulike-article-id:1433236 N2 - A simple formula is developed for the valuation of uncertain income streams consistent with rational risk averse investor behavior and equilibrium in financial markets. Applying this formula to the pricing of an option as a function of its associated stock, the Black-Scholes formula is derived even though investors can only trade at discrete points in time. IS - 2 JF - The Bell Journal of Economics EP - 425 TI - The Valuation of Uncertain Income Streams and the Pricing of Options VL - 7 SP - 407 KW - ccapm KW - consumption KW - yannick AU - Rubinstein, Mark PY - 1976/// UR - http://www.jstor.org/stable/3003264 ER -