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Limited Liability, Short Selling, Bounded Utility, and Infinite-Variance Stable Distributions

Paul A. Samuelson

Journal of Financial and Quantitative Analysis · 1976 · Volume 11 · Issue 3

DOI: 10.2307/2330423

Abstract

I welcome the oppostunity to second the analysis of Davies and Ronning [4]. The considerations they raise crop up repeatedly in various contexts of uncertainty analysis and prompt the following remarks dealing with various tonics described in ray title.

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