Identification of Individual Demands from Market Data under Uncertainty

We show that, even under incomplete markets, the equilibrium manifold identifies individual demands everywhere in their domains. Under partial observation of the manifold, we determine maximal subsets of the domains on which identification holds. For this, we assume conditions of smoothness, interiority and regularity. It is crucial that there be date-zero consumption. As a by-product, we develop a duality theory under incomplete markets.

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Year of publication:	2008
Authors:	Carvajal, Andres ; Riascos, Alvaro
Published in:	Topics in Theoretical Economics. - Berkeley Electronic Press. - Vol. 8.2008, 1, p. 1420-1420
Publisher:	Berkeley Electronic Press
Subject:	identification \| equilibrium manifold \| incomplete markets

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Extent:	application/pdf
Type of publication:	Article
Notes:	oai:bepress:bejte-1420
Classification:	D52 - Incomplete Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005751187