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The paper studies pure exchange economies with infinite dimensional commodity spaces in the setting of Riesz dual systems. Several new concepts of equilibrium are introduced. An allocation (x_{1},...,x_{m}) is said to be a) an Edgeworth equilibrium whenever it belongs to the core of every n-fold...
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An Edgeworth equilibrium is an allocation that belongs to the core of every n-fold replica of the economy. In [2] we studied in the setting of Riesz spaces the properties of Edgeworth equilibria for pure exchange economies with infinite dimensional commodity spaces. In this work, we study the...
Persistent link: https://www.econbiz.de/10004990699
We present necessary and sufficient conditions on the asset span of incomplete derivative markets for insuring marketed portfolios. If the asset span is finite dimensional there exists a polynomial-time algorithm for deciding if every marketed portfolio is insurable, moreover this algorithm...
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