Risk sharing and retrading in incomplete markets (Q382322)
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scientific article; zbMATH DE number 6228510
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| English | Risk sharing and retrading in incomplete markets |
scientific article; zbMATH DE number 6228510 |
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Risk sharing and retrading in incomplete markets (English)
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18 November 2013
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This paper deals with retrading at a competitive equilibrium of an incomplete markets economy. The assumptions for the economy are chosen in such a way, that in the proofs of theorems the authors can use the transversality theorem and so they get characterizing (necessary and sufficient) results which hold generically. One of such a result characterizes the set of public signals that leads to retrading. The authors add some hints, that their results generalize former ones, e.g. Theorem 5 of [\textit{L. Blume} et al., Econ. Theory 29, No. 2, 379--394 (2006; Zbl 1108.91026)].
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incomplete markets
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uncertainty
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competitive equilibrium
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retrading
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Pareto efficiency
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transversality theorem
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0.7623282074928284
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0.7472830414772034
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0.74058598279953
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0.7333611845970154
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