risk. By introducing default-dependent borrowing constraints, we show the existence of equilibrium. …

Ponzi schemes but also induce endogenous Radner bounds on short-sales. Therefore, we obtain existence of equilibrium …. Moreover, equilibrium also exists when both assets are numerarie and utility functions are quasilinear in the commodity used as …

risk. By introducing default-dependent borrowing constraints, we show the existence of equilibrium. …

Equilibrium notions for games with unawareness in the literature cannot be interpreted as steady-states of a learning … that possesses a self-confirming equilibrium in extensive-form rationalizable strategies. This notion of equilibrium can be …

We prove the existence of an equilibrium in competitive markets with adverse selection in the sense of Miyazaki (1977 …