Existence of Equilibrium in Incomplete Markets with Non-Ordered Preferences

In this paper we extend the results of recent studies on the existence of equilibrium in finite dimensional asset markets for both bounded and unbounded economies. We do not assume that the individual's preferences are complete or transitive. Our existence theorems for asset markets allow for short selling. We shall also show that the equilibrium achieves a constrained core within the same framework.

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Year of publication:	2002-04-16
Authors:	Yalcin, Erkan
Institutions:	EconWPA
Subject:	Equilibrium Existence \| Incomplete Preferences \| Incomplete Markets \| Constrained Core

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Extent:	application/pdf
Series:	GE, Growth, Math methods.
Type of publication:	Book / Working Paper
Notes:	Type of Document - Tex; prepared on IBM PC; to print on HP;
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; D52 - Incomplete Markets ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; G12 - Asset Pricing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005125612