Competitive equilibrium with moral hazard in economies with multiple commodities. (Q1867766)
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scientific article; zbMATH DE number 1891740
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| English | Competitive equilibrium with moral hazard in economies with multiple commodities. |
scientific article; zbMATH DE number 1891740 |
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Competitive equilibrium with moral hazard in economies with multiple commodities. (English)
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2 April 2003
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Imposing economic standard and (e.g. in order to give the constraint set a nonempty interior) some smoothness conditions and using results on connectedness of sets (in order to apply homotopy theorems) and (pseudoconcave) Kuhn-Tucker theorems the authors show for economies as suggested in the title existence of equilibria and (under special conditions and using Sard-Smale theorem) their generic suboptimality.
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equilibrium
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moral hazard
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constrained suboptimality
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0.8577020764350891
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0.8212745785713196
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0.8093341588973999
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0.8034363389015198
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0.8012768626213074
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