标题： 易腐商品与再交易资产：对一个基本二分法的理论重新评估 显示英文标题

标题： Perishable Goods versus Re-tradable Assets: A Theoretical Reappraisal of a Fundamental Dichotomy

摘要： 市场行为的实验结果表明，与非耐用或易腐商品市场相比，耐用再交易资产市场的稳定性和效率较低。 在本章中，我们根据我们关于竞争性市场价格形成的理论，重新审视这一已知但未被充分认识的商品二分法，并通过对著名无交易和无套利定理的简单重新表述，强调了资产再交易概念在新古典金融中的根本性。 显示英文摘要

摘要： Experimental results on market behavior establish a lower stability and efficiency of markets for durable re-tradable assets compared to markets for non-durable, or perishable, goods. In this chapter, we revisit this known but underappreciated dichotomy of goods in the light of our theory of competitive market price formation, and we emphasize the fundamental nature of the concept of asset re-tradability in neoclassical finance through a simple reformulation of the famous no-trade and no-arbitrage theorems.