Showing 1 - 10 of 78
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
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
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
We consider a pure exchange overlapping generations economy with finitely many commodities and consumers per period having possibly non-complete non transitive preferences. We provide a geometric and direct proof of the Balasko-Shell characterization of Pareto optimal allocation. To avoid some...
Persistent link: https://www.econbiz.de/10011194459
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/10005670862
The aim of this paper is twofold. Starting from the population dynamics literature, which usually finds the resulting distribution of a trait in a population, according to some parents' preferences, I answer the inverted question: Which preference function would yield into a given trait...
Persistent link: https://www.econbiz.de/10011268210
This paper proposes conditions for the existence and uniqueness of solutions to systems of linear differential or algebraic equations with delays or advances, in which some variables may be non predetermined. The obtained conditions represent the counterpart of the Blanchard and Kahn conditions...
Persistent link: https://www.econbiz.de/10010607678
This paper demonstates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational expectations models. The number of equilibria corresponds to the number of ways to select n eigenvectors among a larger set of eigenvectors related to stable eigenvalues. A...
Persistent link: https://www.econbiz.de/10010812336