A characterization of the optimality of equilibrium in incomplete markets

DOI10.1016/0022-0531(77)90063-1zbMATH Open0362.90019OpenAlexW2067353486WikidataQ29028205 ScholiaQ29028205MaRDI QIDQ1240140FDOQ1240140

Authors: Sanford J. Grossman 

Publication date: 1977

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(77)90063-1

Mathematics Subject Classification ID

Decision theory (91B06) Trade models (91B60)

Cites Work

• On the optimality of equilibrium when the market structure is incomplete
• Quasi-Concave Programming
• Existence of Equilibrium of Plans, Prices, and Price Expectations in a Sequence of Markets
• Rational expectations and the econometric modeling of markets subject to uncertainty. A Bayesian approach
• Competitive inefficiencies in the presence of constrained transactions

Cited In (18)

• The core of a monetary economy without trust
• Constrained inefficiency in GEI: A geometric argument
• Notes on optimality of rational expectations equilibrium with incomplete markets
• A new characterization of the efficiency of equilibrium with incomplete markets
• Optimal futures innovation in a dynamic economy: The discrete-time case
• The stock market and the vacancy rate
• Competitive equilibrium with incomplete financial markets
• Incentives and competitive allocations in exchange economies with incomplete markets
• Core and equilibrium in incomplete markets
• A second welfare theorem for constrained efficient allocations in incomplete markets
• Rational expectations equilibria in sequence economies with symmetric information: The two-period case
• Perfect competition, the profit criterion, and the organization of economic activity
• Perfect competition and optimal product differentiation
• Money, information and equilibrium in large economies
• \(p\)-weakly constrained Pareto efficiency and aggregation in incomplete markets
• Core concepts for incomplete market economies
• A note on the implementation of rational expectations equilibria
• Generic inefficiency of stock market equilibrium when markets are incomplete

This page was built for publication: A characterization of the optimality of equilibrium in incomplete markets

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q1240140)