This paper deals with the existence of equilibrium in a dynamic reinsurance market with short sale constraints, driven …, +\infty[$. The properness of preferences is a key assumption for us to prove the existence of an equilibrium. We provide a …

they have the same special status as asymptotic limits of other equilibrium paths. The difficulty in extending the analysis … forward equilibrium equations determinate. The properties of the resulting trajectories, in particular their asymptotic … show that the strongly stationary equilibrium is the unique equilibrium. For the model with zero dividends (money) there is …

equilibrium and the core in economies with any number of markets, finite or infinite, with or without short sales. This extends …

equilibrium. Monetary structure can be derived from price theory in a modified Arrow-Debreu model. Two constructs are added … equilibrium value from its acceptability for tax payments. Scale economies in transaction cost account for uniqueness of the (fiat … or commodity) money in equilibrium. Copyright Springer-Verlag Berlin Heidelberg 2003 …

information. We show that if the economy is "irreducible", then a competitive equilibrium, in the sense of Radner (1968, 1982 …), exists. Moreover, the set of competitive equilibrium allocations coincides with the "private core" (Yannelis, 1991). We also …

compare their equilibrium sets. As in Peck and Shell (1989), the only common equilibria between the first and the second game …