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Global identification from the equilibrium manifold under incomplete markets

We show that, even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their domains. For this, we assume conditions of smoothness, interiority and regularity, and avoid observational requirements at the individual level. It is crucial that there be date-zero consumption. As a by-product, we develop some duality theory under incomplete markets.
Year of publication:
2004-11
Authors: Carvajal, Andrés ; Riascos, Alvaro
Institutions: Department of Economics, Royal Holloway University of London
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
Number 04/30 26 pages
Source:
Persistent link: https://www.econbiz.de/10005652709
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