haku: @indexterm incomplete markets / yhteensä: 34
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| Tekijä: | Hernandez, A. Santos, M. |
| Otsikko: | Competitive equilibria for infinite-horizon economies with incomplete markets |
| Lehti: | Journal of Economic Theory
1996 : OCT, VOL. 71:1, p. 102-130 |
| Asiasana: | ECONOMIC THEORY COMPETITIVE EQUILIBRIUM INCOMPLETE MARKETS |
| Kieli: | eng |
| Tiivistelmä: | In this paper, the authors consider a sequential trading economy with incomplete financial markets and a finite number of infinitely lived agents. The authors propose a specification of agents' budget sets and show that such specification features several desirable properties. The authors then establish the existence of an equilibrium for a regular class of economies. The authors present a stochastic model of sequential trading with an incomplete financial structure and a finite number of infinitely lived agents. |
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