AMARANTE, Massimiliano; GHOSSOUB, Mario; PHELPS, Edmund - Département de Sciences Économiques, Université de … - 2012
states. An innovation is a set of states that are not publicly known along with an asset (in a broad sense) that pays … contingent on those states. The creator of an innovation is an entrepreneur. He is represented by a probability measure on the … set of new states. All other agents perceive the innovation as ambiguous: each of them is represented by a set of …
