Ma, Chenghu; Zhang, Jiankang - In: Social Choice and Welfare 41 (2013) 3, pp. 605-623
This paper studies aggregation and a weak form of optimality referring to the p-weakly constrained Pareto efficiency (p-WE) in stochastic finance economies with incomplete markets. We derive a representative agent utility function maximized at equilibrium and a characterization of the set of...