In this note, we study the problem of existence, uniqueness and determinacy of equilibrium in the two period mean … equilibria as the original economy. In particular, we provide a very elementary proof of existence of equilibrium. We then show … that when utilities are additively separable in mean and variance, sufficient conditions for uniqueness of equilibrium may …

-dimensional utility function (wealth and health status). We prove that the type of health risk influences the equilibrium of insurance …

provide a necessary and sufficient condition on the match function for full disclosure to be the unique equilibrium outcome … always an equilibrium and a necessary and sufficient equilibrium condition is that all firm types earn at least the full …

consumer interest into learning more about the product, and determine a firm's equilibrium choice of advertising content over … quality information, price information, and horizontal match information. Equilibrium is unique whenever advertising is … necessary. The outcome is a separating equilibrium with quality unravelling. Lower-quality firms need to provide more …

In this paper we prove the existence of general equilibrium with transaction costs generalizing Hahn's (Review of …

We propose a simple equilibrium model, where the physical and the derivative markets of the commodity interact. There … equilibrium to exist and we show that it is unique. This is the first contribution of the paper. Our model exhibits a surprising … variety of behaviours at equilibrium, and our second contribution is that the paper offers a unique generalized framework for …