Showing 1 - 10 of 60
Persistent link: https://www.econbiz.de/10002529776
Persistent link: https://www.econbiz.de/10002529797
Persistent link: https://www.econbiz.de/10002529832
Persistent link: https://www.econbiz.de/10002529839
Persistent link: https://www.econbiz.de/10002529844
Persistent link: https://www.econbiz.de/10002529820
This paper defines a general equilibrium model with exchange and club formation. Agents trade multiple private goods widely in the market, can belong to several clubs, and care about the characteristics of the other members of thei r clubs. The space of agents and the number of possible club...
Persistent link: https://www.econbiz.de/10005292495
Persistent link: https://www.econbiz.de/10005362420
Fifty years ago Arrow [1] introduced contingent commodities and Debreu [4] observed that this reinterpretation of a commodity was enough to apply the existing general equilibrium theory to uncertainty and time. This interpretation of general equilibrium theory is the Arrow-Debreu model. The...
Persistent link: https://www.econbiz.de/10005370755
We consider economies with incomplete markets, one good per state, two periods, t=0,1, private ownership of initial endowments, a single firm, and no assets other than shares in this firm. In Dierker, Dierker, Grodal (2002), we give an example of such an economy in which all market equilibria...
Persistent link: https://www.econbiz.de/10005370912