Equilibrium in economies with incomplete financial markets (Q1081516)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Equilibrium in economies with incomplete financial markets |
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Equilibrium in economies with incomplete financial markets (English)
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1985
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The author studies an Arrow-Debreu economy with incomplete markets and shows the existence of equilibrium (Radner equilibrium) in a reformulated model with futures markets described by securities with monetary returns. This is in contrast to the results of Hart where futures markets are markets for contingent futures commodities.
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Arrow-Debreu economy
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incomplete markets
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existence of equilibrium
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Radner equilibrium
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futures markets
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