Similar Search Results

Existence of an exact Walrasian equilibrium in nonconvex economies

D'Agata, Antonio - 2012

The existence of an exact Walrasian equilibrium in nonconvex economies is still a largely unexplored issue. This paper shows that such an equilibrium exists in nonconvex economies by following the "nearby economy"approach introduced by Postlewaite and Schmeidler (Approximate Walrasian...

Persistent link: https://www.econbiz.de/10009521465

Chapter 5 The Economic Theory of Gift-Giving: Perfect Substitutability of Transfers and Redistribution of Wealth

Mercier Ythier, Jean - In: Handbook of the economics of giving, altruism and …, (pp. 227-369). 2006

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...

Persistent link: https://www.econbiz.de/10014023678

Risk Loving and Fat Tails in the Wealth Distribution

Araújo, Aloisio Pessoa de; Gama, Juan Pablo; Kehoe, … - National Bureau of Economic Research - 2024

We study the dynamic properties of the wealth distribution in an overlapping generations model with warm-glow bequests and heterogeneous attitudes towards risk. Some dynasties of agents are risk averters, and others are risk lovers. Agents can invest in two types of Lucas trees. The two types of...

Persistent link: https://www.econbiz.de/10015171699

Radner equilibria under ambiguous volatility

Beißner, Patrick - 2013

alters to an endogenous property. Only mean unambiguous claims equivalently satisfying the classical martingale …

Persistent link: https://www.econbiz.de/10010212527

Coherent price systems and uncertainty-neutral valuation

Beißner, Patrick - 2012

and the existence of an equivalent martingale measure is a folk theorem, see Harrison and Kreps (1979). We establish a … equivalent symmetric martingale measure sets, in a dynamic trading framework under absence of prior depending arbitrage. We prove … price systems ; arbitrage ; equivalent symmetric martingale measures set (EsMM set) ; symmetric martingales ; Girsanov for G …

Persistent link: https://www.econbiz.de/10009512789

Margins on short sales and equilibrium price indeterminacy

Ma, Chenghu; Hu, Jianqiang; Xu, Yifan - In: Journal of mathematical economics 74 (2018), pp. 79-92

Persistent link: https://www.econbiz.de/10012103973

Existence of a competitive equilibrium in a one sector growth model with heterogeneous agents and irreversible investment

Van, Cuong Le; Vailakis, Yiannis - In: Economic Theory 22 (2003) 4, pp. 743-771

Persistent link: https://www.econbiz.de/10005753350

Introduction to general equilibrium

Balasko, Yves; Geanakoplos, John - In: Journal of Economic Theory 147 (2012) 2, pp. 400-406

This introduces the symposium on general equilibrium.

Persistent link: https://www.econbiz.de/10010572387

On the stability of nonsunspot equilibria

Balasko, Yves - In: Journal of Economic Theory 147 (2012) 2, pp. 526-544

This paper analyzes the stability of the (Pareto efficient) nonsunspot equilibria as a function of the constraints faced by consumers in their ability to transfer wealth between states of nature. Equilibria that are stable for the certainty economy define nonsunspot equilibria that are stable in...

Persistent link: https://www.econbiz.de/10010572399

On the Indeterminacy of Determinacy and Indeterminacy

Beyer, Andreas; Farmer, Roger E A - C.E.P.R. Discussion Papers - 2003

A number of authors have attempted to test whether the US economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1 displays an...

Persistent link: https://www.econbiz.de/10005666730

1
2
3
4
5
6
7
8
9
10
Next
Last