An Extension of Mantel (1976) to Incomplete Markets

In the incomplete markets model with numeraire asset and a single con- sumption good we show that, even with homothetic preferences, on compact sets of prices Continuity, Walras' identity and Homogeneity characterize the properties of market excess demand.This result is proved by an extension of Mantel (1976) to the case of incomplete markets.

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Authors:	Hens, Thorsten
Institutions:	Institut für Volkswirtschaftslehre, Wirtschaftswissenschaftliche Fakutät
Subject:	structure of excess demand \| incomplete markets

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Extent:	application/pdf
Series:	IEW - Working Papers. - ISSN 1424-0459.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IEW-working papers Number 071
Classification:	D52 - Incomplete Markets ; C62 - Existence and Stability Conditions of Equilibrium ; G10 - General Financial Markets. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005627787