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Equilibrium in incomplete markets with differential information : a basic model of generic existence

Boisdeffre, Lionel de - 2021

Persistent link: https://www.econbiz.de/10012667148

On the Existence of Competitive Equilibrium in Frictionless and Incomplete Stochastic Asset Markets

Jarrow, Robert A. - 2017

Using a standard frictionless, continuous time, and continuous trading stochastic economy with heterogeneous beliefs, the purpose of this paper is to provide sufficient conditions for the existence of competitive equilibrium in an incomplete asset market. A new approach to proving existence is...

Persistent link: https://www.econbiz.de/10012970661

Incomplete markets

Magill, Michael J. P. (contributor); … - 2008

Incomplete', Journal of Economic Theory, 11 (3), December, 418-43 -- David Cass (2006), 'Competitive Equilibrium with Incomplete …), 'On the Theory of the Firm in an Economy with Incomplete Markets', Bell Journal of Economics and Management Science, 5 (1 …. Grossman and Oliver D. Hart (1979), 'A Theory of Competitive Equilibrium in Stock Market Economies', Econometrica, 47 (2 …

Persistent link: https://www.econbiz.de/10012420093

Financial market incompleteness and international cooperation on capital controls

Kitano, Shigeto; Takaku, Kenya - 2020

Persistent link: https://www.econbiz.de/10012233201

Arbitrage pricing in non-Walrasian financial markets

Carvajal, Andrés - In: Economic theory : official journal of the Society for … 66 (2018) 4, pp. 951-978

Persistent link: https://www.econbiz.de/10012010925

Financial friction and multiplicative Markov market games

Aurell, Erik; Muratore-Ginanneschi, Paolo - In: International journal of theoretical and applied finance 3 (2000) 3, pp. 501-510

Persistent link: https://www.econbiz.de/10001523035

Sustainable debt

Bloise, Gaetano; Polemarchakis, Heraklis M.; Vailakis, Y. - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 4, pp. 1513-1555

We show that debt is sustainable at a competitive equilibrium based solely on the reputation for repayment; that is, even without collateral or legal sanctions available to creditors. In an incomplete asset market, when the rate of interest falls recurrently below the rate of growth of the...

Persistent link: https://www.econbiz.de/10012806557

Financial market incompleteness and international cooperation on capital controls

Kitano, Shigeto; Takaku, Kenya - 2021 - Revised October 25, 2021

Persistent link: https://www.econbiz.de/10013367773

Financial market incompleteness and international cooperation on capital controls

Kitano, Shigeto; Takaku, Kenya - In: International journal of economic theory 18 (2022) 4, pp. 624-642

Persistent link: https://www.econbiz.de/10013472547

Trading on Sunspots

Jovanovic, Boyan - 2015

In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disasters. When the probability of a disaster is...

Persistent link: https://www.econbiz.de/10013031016