Question: A portfolio is called duplicable if there is a different portfolio y x which provides exactly the same returns in every state, that is, Rx

A portfolio is called duplicable if there is a different portfolio y ‰  x which provides exactly the same returns in every state, that is, Rx = Ry or
A portfolio is called duplicable if there is a different

Show that every portfolio is duplicable if rank R

aXfor every s E S sa Va 2-1 a-1

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