Competitive equilibria for infinite-horizon economies with incomplete markets
成果类型：
Article
署名作者：
Hernandez, A; Santos, MS
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.0111
发表日期：
1996
页码：
102-130
关键词：
摘要：
In this paper we consider a sequential trading economy with incomplete financial markers and a finite number of infinitely lived agents. We propose a specification of agents' budget sets and show that such specification features several desirable properties. We then establish the existence of an equilibrium for a regular class of economies. (C) 1996 Academic Press, Inc.