Risk sharing and retrading in incomplete markets (Q382322)

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scientific article; zbMATH DE number 6228510
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    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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