Showing 1 - 10 of 31
Under a comonotonicity assumption between aggregate dividends and the market portfolio, the CCAPM formula becomes more tractable and more easily testable. In this paper, we provide theoretical justifications for such an assumption.
Persistent link: https://www.econbiz.de/10008793270
This paper investigates how the general public behaves when confronted with low probability events and ambiguity in an insurance context. It reports the results of a questionnaire completed by a large representative sample of the French population that aims at separating attitudes toward risk,...
Persistent link: https://www.econbiz.de/10010635162
This paper presents an equilibrium model in a pure exchange economy when investors have three possible sources of … impact of investors heterogeneity on the properties of the equilibrium. In particular, we analyze the consumption shares, the …
Persistent link: https://www.econbiz.de/10009360288
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/10010603930
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/10010610165
Unlike partial equilibrium analysis which study the equilibrium of a particular market under the clause "ceteris … paribus" that revenues and prices on the other markets stay approximately unaffected, the ambition of a general equilibrium … model is to analyze the simultaneous equilibrium in all markets of a competitive economy. Definition of the abstract model …
Persistent link: https://www.econbiz.de/10010750449
finish by studying the existence and the unicity of the equilibrium in the sense of Lucas or Romer. …
Persistent link: https://www.econbiz.de/10010750501
general theorem on the existence of equilibrium without requiring that the commodity space or its dual be a vector lattice …
Persistent link: https://www.econbiz.de/10010750751
literature to ensure the existence of competitive equilibrium. Our assumption allows for satiation points inside the set of …, we show the concept of equilibrium with dividends (See Aumann and Dreze (1986), Mas-Collel (1992)) is pertinent only when …
Persistent link: https://www.econbiz.de/10010750794
Compendious and thorough solutions to the existence of a linear price equilibrium problem, the second welfare theorem …. The motivation comes from economic applications showing the need to bring within the scope of equilibrium theory vector …
Persistent link: https://www.econbiz.de/10010750803