Volatility-induced financial growth

Michael A. H. Dempster, Igor V. Evstigneev, Klaus R. Schenk-hoppé
2007 Quantitative finance (Print)  
We show that the volatility of a price process, which is usually regarded as an impediment to financial growth, can serve as an endogenous factor in its acceleration.
doi:10.1080/14697680601103268 fatcat:eeelvbcuf5h3nfkkz3m5sg2w5y