Lotteries, sunspots, and incentive constraints

DOI10.1006/jeth.2001.2792zbMath1027.91054MaRDI QIDQ1867541

Edward C. Prescott, Timothy J. Kehoe, David K. Levine

Publication date: 2 April 2003

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

Full work available at URL: https://semanticscholar.org/paper/7a2cc683eafa968c0aa2c4e25540c1731cafaf2a

zbMATH Keywords

sunspot equilibria; exchange economies; lottery equilibria; stand-in consumer economy

Mathematics Subject Classification ID

91B54: Special types of economic markets (including Cournot, Bertrand)

Related Items

Efficient sets are small, Markets and contracts, General equilibrium in economies with adverse selection, General equilibrium with nonconvexities and money, Competitive equilibria with asymmetric information, A dual characterization of incentive efficiency., Introduction to sunspots and lotteries, Equilibrium prices when the sunspot variable is continuous., Aggregation in economies with search frictions, Feasible mechanisms in economies with type-dependent endowments

Cites Work

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• Debt Constrained Asset Markets
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• Efficiency, Equilibrium, and Asset Pricing with Risk of Default
• Implications of Efficient Risk Sharing without Commitment