In this paper we first prove an equilibrium existence theorem for finite dimensional economies with unbounded below … give conditions for equivalence between absence of arbitrage and existence of equilibrium. Lastly, we introduce the concept …

returns, is reconsidered. Investors use measures of risk. The overlapping sets of priors and the Pareto equilibrium conditions …

The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk …

The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk …

In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica …, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either … contributions to the theory of arbitrage and competitive equilibrium. First, we show that, in general, in unbounded exchange …

returns, is reconsidered. Investors use measures of risk. The overlapping sets of priors and the Pareto equilibrium conditions …

allocations. We also consider the problem of existence of equilibrium. We show, for example, that under a uniformity condition on …

equilibrium when utility need not be bounded from below and the Inada-type conditions need not hold. The analysis is carried out …

We address the fundamental issues of existence and efficiency of an equilibrium in a Ramsey model with many agents … bubbles is also tackled. In the first part, we prove the equilibrium existence in a truncated bounded economy through a fixed …-point argument by Gale and Mas-Colell (1975). This equi- librium is also an equilibrium of any unbounded economy with the same …