Inefficiency of equilibria with incomplete markets

DOI10.1016/J.JMATECO.2004.05.002MaRDI QIDQ2581793zbMATH OpenOpenAlexFDO

Authors Ryo Nagata

Publication date 10 January 2006

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2004.05.002

zbMATH Keywords

Budget optimumCurrent monotonicity

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) General equilibrium theory (91B50)

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Cites work

• Anonymity and optimality of competitive equilibria when markets are incomplete
• Equilibrium in economies with incomplete financial markets
• Equilibrium in incomplete markets. I: A basic model of generic existence
• Generic inefficiency of stock market equilibrium when markets are incomplete
• scientific article; zbMATH DE number 4091139 (Why is no real title available?)
• scientific article; zbMATH DE number 2120699 (Why is no real title available?)
• Incomplete markets over an infinite horizon: Long-lived securities and speculative bubbles
• On constrained optimal allocations with incomplete markets
• On the optimality of equilibrium when the market structure is incomplete
• Pareto improving financial innovation in incomplete markets
• Real indeterminacy with financial assets
• The degree of indeterminacy of equilibria with incomplete markets
• The Inefficiency of the Stock Market Equilibrium
• The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets

Cited in

(22)

• Effectively complete equilibria -- A note
• Unimprovable allocations in economies with incomplete information
• Generic inefficiency of equilibria in the general equilibrium model with incomplete asset markets and infinite time
• A case for incomplete markets
• Incomplete financial markets with real assets and wealth-dependent credit limits
• A re-examination of constrained Pareto inefficiency in economies with incomplete markets
• Are incomplete markets able to achieve minimal efficiency?
• Pareto improving price regulation when the asset market is incomplete
• Inefficiency of strategy-proof rules for pure exchange economies
• Indeterminacy of Cournot-Walras equilibrium with incomplete markets
• Constrained efficiency versus unanimity in incomplete markets
• \(p\)-weakly constrained Pareto efficiency and aggregation in incomplete markets
• Inefficiency of Nash Equilibria
• Endogenous market incompleteness without market frictions: dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies
• When Borch's theorem does not apply: some key implications of market incompleteness, with policy relevance today
• Inducing Efficiency: Externalities, Missing Markets, and the Coase Theorem
• Are Incomplete Markets Able to Achieve Minimal Efficiency?
• Pareto Improving Price Regulation when the Asset Market is Incomplete
• scientific article; zbMATH DE number 2209543 (Why is no real title available?)
• Generic inefficiency of stock market equilibrium when markets are incomplete
• A new characterization of the efficiency of equilibrium with incomplete markets
• Constrained inefficiency in GEI: A geometric argument

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