Some Properties Of Solutions For A Abel Asset Pricing Model

This paper provides the derivation of the nonlinear integral equation for a generalized Abel asset pricing model, which yields an analytic price-dividend function of one state vatiable. Under some assumptions and using the fixed point theorem, the existence and uniqueness of the price-dividend function, which is the solution of the integral equation, are investigated. The analytic properties of the solution are in detail discussed in the complex palne.The first chapter describes the development of the asset pricing theory, the tools used in this article and research methods, the financial application of Abel Asset Pricing Model, as well as a number of related researches at home and abroad. The second chapter concentrates on the Abel Asset Pricing Models, including the derivation of non-linear integral equation and the demonstration of its differentiability and analyticity, which proves the existence, uniqueness, differentiability and analyticity of a price-dividend function. The third chapter describes the derivation of a nonlinear integral equation under exponential distribution assumptions. Chapter 4 summarizes the theoretical derivation of Abel asset pricing model.