The survival assumption and existence of competitive equilibria when asset markets are incomplete
成果类型：
Article
署名作者：
Gottardi, P; Hens, T
署名单位：
Harvard University; University of Bonn
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.0123
发表日期：
1996
页码：
313-323
关键词：
摘要：
The paper studies the role and the formulation of the survival assumption with incomplete markets. We are able to show the existence of a competitive equilibrium when the agents' endowments lie on the boundary of their consumption set However, for this some additional assumptions with respect to the complete market case are needed. These are joint restrictions on the asset structure and the distribution of the endowments and preferences. (C) 1996 Academic Press, Inc.