Excess demand functions and incomplete markets.
The writers characterize excess demand functions around noncritical spot price systems in two-period exchange economies with incomplete markets and real assets. They explore whether continuous dependence on the budget set and budget feasibility are the only properties that can be expected from an e...
| Publicado en: | Journal of Economic Theory Vol. 68; pp. 49 - 64 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Academic Press Inc.
January 1996
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512725984&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512725984 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00220531 RTH jtl: Journal of Economic Theory issn: 00220531 maglogo: N pubinfo: dt: January 1996 vid: 68 pid: 735 pub: Academic Press Inc. artinfo: ui: 512725984 10.1006/jeth.1996.0003 ppf: 49 ppct: 15 formats: tig: atl: Excess demand functions and incomplete markets. aug: au: Bottazzi, Jean-Marc Hens, Thorsten su: Mathematical models Spot prices Economic demand sug: subj: Mathematical models Spot prices Economic demand ab: The writers characterize excess demand functions around noncritical spot price systems in two-period exchange economies with incomplete markets and real assets. They explore whether continuous dependence on the budget set and budget feasibility are the only properties that can be expected from an excess demand function in the framework of incomplete markets. They focus on the local behavior of excess demand in the case of stationary real assets, which, leading generically to unique equilibrium allocation, are very well-behaved assets in the incomplete market literature. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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