Arrow-Debreu equilibria with asymptotically heterogeneous expectations exist

In infinite horizon economies only local equivalence of beliefs is needed to ensure the existence of an Arrow-Debreu equilibrium. In fact, agents can even disagree completely in the long run in the sense that asymptotically, their beliefs are singular.

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Year of publication:	2001
Authors:	Riedel, Frank
Publisher:	Berlin : Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Subject:	Heterogeneous expectations \| Arrow-Debreu equilibrium

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Series:	SFB 373 Discussion Paper ; 2001,28
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	724884378 [GVK] hdl:10419/62727 [Handle] RePEc:zbw:sfb373:200128 [RePEc]
Classification:	D51 - Exchange and Production Economies ; D84 - Expectations; Speculations
Source:	EconStor

Persistent link: https://www.econbiz.de/10010310379