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Arbitrage, equilibrium, and nonsatiation
Allouch, Nizar; Le Van, Cuong; Page, Frank H. - 2004
local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded … admit existence without local or global nonsatiation? This question is the focus of our paper. We make two main … considerably weaker than local or global nonsatiation - that makes possible this transformation. Moreover, as we show via examples …
Persistent link: https://www.econbiz.de/10010284163
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Walras and dividends equilibrium with possibly satiated consumers
Allouch, Nizar; Le Van, Cuong - 2006
The main contribution of the paper is to provide a weaker non-satiation assumption than the one commonly used in the literature to ensure the existence of competitive equilibrium. Our assumption allows for satiation points inside the set of individually feasible consumptions, provided that the...
Persistent link: https://www.econbiz.de/10010284176
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Heterogeneous Bequests and Social Inequalities
Borissov, Kirill; Bosi, Stefano; Ha-Huy, Thai; Pakhnin, … - 2023
We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove that every equilibrium path converges to a unique steady state, and study the effect of altruism on the properties of steady-state equilibrium. We show that aggregate income is...
Persistent link: https://www.econbiz.de/10014469860
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Inequality and Growth: The Role of Human Capital with Heterogeneous Skills
Borissov, Kirill; Bosi, Stefano; Ha-Huy, Thai; Modesto, … - 2016
. Either the less talented agents do not accumulate human capital or the more skilled agents do not work. Moreover, social …
Persistent link: https://www.econbiz.de/10011525021