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existence of an equilibrium under assumptions, which are at the same level of generality than the ones for the existence in an …
Persistent link: https://www.econbiz.de/10009645283
coalition structure, we show that the stability index relative to the equilibrium, to the beta core and to the exact core is a …
Persistent link: https://www.econbiz.de/10008520968
to study the mechanism of transfer between generations, and we show that the existence of an equilibrium can be …
Persistent link: https://www.econbiz.de/10010791256
We consider the model of a financial exchange economy with finitely many periods having financial restricted participation i.e., each agents portfolio choice is restricted to a closed convex set containing zero, as in Siconolfi [1989]. Time and uncertainty are represented by a finite event-tree....
Persistent link: https://www.econbiz.de/10010617541
general existence result of equilibrium via the existence of quasi-equilibrium, in a financial exchange economy for which …
Persistent link: https://www.econbiz.de/10010617545
Focusing mainly on equilibrium existence results, this paper emphasizes the role of fixed point theorems in the … development of general equilibrium theory, as well for its standard definition as for some of its extensions. …
Persistent link: https://www.econbiz.de/10008622014
seminal role played by two lemmas of David Gale in the development of the foundations of General Equilibrium Theory. …
Persistent link: https://www.econbiz.de/10008622059
We consider a two-date model of a financial exchange economy with finitely many agents having nonordered preferences and portfolio constraints. There is a market for physical commodities at any state today or tomorrow and financial transfers across time and across states are allowed by means of...
Persistent link: https://www.econbiz.de/10008622062
The LP formula is based upon the substitution of the exogenous risk aversion hypothesis by a credit equilibrium …-off curve is almost identical across asset classes. In equilibrium, an asset expected blue-sky return is proportional to its …
Persistent link: https://www.econbiz.de/10011123705
characterization of equilibria in pure strategy in this setting. Simple examples show that the existence of a pure strategy equilibrium … does depend on the structure of the network. The characterization of equilibrium we obtain emphasizes on the one hand the …, the strategic players generally have differentiated equilibrium targets, the high-impacts agent focusing on centrality and …
Persistent link: https://www.econbiz.de/10011194457