Differential Asset Valuation in the Medieval Post-Talmudic Legal Literature

  title={Differential Asset Valuation in the Medieval Post-Talmudic Legal Literature},
  author={Jeffrey L. Callen},
  journal={History of Political Economy},
This study evaluates the extent to which the asset valuation arguments raised by medieval post-Talmudic legal scholars are consistent with modern contingent claims analysis. In particular, this study evaluates the arguments proposed by these scholars in order to rationalize the Talmud's differential valuation of the same asset by multiple claimants. Modern contingent claims analysis is able to explain differential valuation by invoking market imperfections such as transactions costs and… Expand
2 Citations
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