We develop a general equilibrium model with differential information and incomplete financial participation. Agents endogenously update information from commodity prices and financial contracts. Without require financial survival assumptions, we prove equilibrium existence in a model where the...

We build a general equilibrium model where agents are subject to endogenous trading constraints, making the access to financial trade dependent on prices and consumption decisions. Besides, our framework is compatible with the existence of endogenous financial segmentation and credit markets'...

Exchange economies are defined by a distribution in the space of characteristics where the commodity space is an ordered separable Banach space. We characterize the continuity of the equilibrium correspondence and an associated stability concept which allows us to give a positive answer to an...

This study contributes to the understanding of trust as a determinant of welfare from the perspective of a microfunded model. In a competitive setup, agents decide whether to participate in a productive interaction and an action therein. Matching in the interaction is anonymous. The maximization...