In this paper, two results are presented. Both refer to the impossibility theorem of Polemarchakis (1983). The Slutsky matrix of intratemporal and intertemporal substitution effects, associated with the individual short-run demand functions, is not arbitrary, but symmetric, if expectations are...

While the meaningful theorems of neo-classical theory of the producer are well known, the neo-keynesian counterparts are not. Therefore, this paper will present those new meaningful theorems and their relations with neo-classical theory. On the one hand, this paper is of interest to the...

In this paper : a) the consumer’s problem is studied over two periods, the second one involving S states, and the consumer being endowed with S+1 incomes and having access to N financial assets; b) the consumer is then representable by a continuously differentiable system of demands, commodity...

In the Rothschild-Stiglitz [1976] model of a competitive insurance market with adverse selection, pooling equilibria cannot exist. However in practice, pooling contracts are frequent, notably in health insurance and life insurance. This is due to the fact that distribution costs are...

In this paper : a) the consumer's problem is studied over two periods, the second one involving S states, and the consumer being endowed with S+1 incomes and having access to N financial assets; b) the consumer is then representable by a continuously differentiable system of demands, commodity...