the valuation of uncertain income streams and the pricing...

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The RAND Corporation The Valuation of Uncertain Income Streams and the Pricing of Options Author(s): Mark Rubinstein Source: The Bell Journal of Economics, Vol. 7, No. 2 (Autumn, 1976), pp. 407-425 Published by: The RAND Corporation Stable URL: http://www.jstor.org/stable/3003264 Accessed: 19/08/2009 10:46 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=rand. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We work with the scholarly community to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources. For more information about JSTOR, please contact [email protected]. The RAND Corporation is collaborating with JSTOR to digitize, preserve and extend access to The Bell Journal of Economics. http://www.jstor.org

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Page 1: The Valuation of Uncertain Income Streams and the Pricing ...pages.stern.nyu.edu/~dbackus/GE_asset_pricing/disasters...Title The Valuation of Uncertain Income Streams and the Pricing

The RAND Corporation

The Valuation of Uncertain Income Streams and the Pricing of OptionsAuthor(s): Mark RubinsteinSource: The Bell Journal of Economics, Vol. 7, No. 2 (Autumn, 1976), pp. 407-425Published by: The RAND CorporationStable URL: http://www.jstor.org/stable/3003264Accessed: 19/08/2009 10:46

Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available athttp://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unlessyou have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and youmay use content in the JSTOR archive only for your personal, non-commercial use.

Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained athttp://www.jstor.org/action/showPublisher?publisherCode=rand.

Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printedpage of such transmission.

JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We work with thescholarly community to preserve their work and the materials they rely upon, and to build a common research platform thatpromotes the discovery and use of these resources. For more information about JSTOR, please contact [email protected].

The RAND Corporation is collaborating with JSTOR to digitize, preserve and extend access to The BellJournal of Economics.

http://www.jstor.org

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