Since 2014
On the Existence of Equilibrium with Incomplete Markets and Non-Monotonic Preferences
Brazilian Review of Econometrics
View Archive Info| Field | Value | |
| Title |
On the Existence of Equilibrium with Incomplete Markets and Non-Monotonic Preferences
On the Existence of Equilibrium with Incomplete Markets and Non-Monotonic Preferences |
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| Creator |
Carvajal, Andrés
Geanakoplos, John Riascos, Alvaro |
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| Description |
We provide a shorter proof than Geanakoplos and Polemarchakis (1986) of the existence of equilibrium in an incomplete financial market economy with numeraire assets, under the weak assumption that asset returns are non-negative. Furthermore, we relax the strict monotonicity assumption on preferences and as an application we prove the existence of equilibrium when agents may disagree on zero probability events but do not plan to go bankrupt in any state.
We provide a shorter proof than Geanakoplos and Polemarchakis (1986) of the existence of equilibrium in an incomplete financial market economy with numeraire assets, under the weak assumption that asset returns are non-negative. Furthermore, we relax the strict monotonicity assumption on preferences and as an application we prove the existence of equilibrium when agents may disagree on zero probability events but do not plan to go bankrupt in any state. |
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| Publisher |
Sociedade Brasileira de Econometria
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| Date |
2008-11-01
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion |
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| Format |
application/pdf
application/pdf |
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| Identifier |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/1513
10.12660/bre.v28n22008.1513 |
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| Source |
Brazilian Review of Econometrics; Vol. 28 No. 2 (2008); 239-247
Brazilian Review of Econometrics; v. 28 n. 2 (2008); 239-247 1980-2447 |
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| Language |
eng
por |
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| Relation |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/1513/932
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/1513/933 |
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