Showing 1 - 2 of 2
Persistent link: https://www.econbiz.de/10003227158
We study general equilibrium with nonconvexities. In these economies there exist sunspot equilibria without the usual assumptions needed in convex economies, and they have good welfare properties. Moreover, in these equilibria, agents act as if they have quasi-linear utility. Hence wealth...
Persistent link: https://www.econbiz.de/10005428210