Notes on the Constrained Suboptimality Result by J. D. Geanakoplos and H. M. Polemarchakis (1986)

J. D. Geanakoplos and H. M. Polemarchakis (1986) prove the generic constrained suboptimality of equilibrium allocations in two period economies with incomplete markets. In these notes we provide a complete and detailed version of their proof with alternative arguments when needed.

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Year of publication:	2009-11
Authors:	Jiménez-Martínez, Antonio
Institutions:	Centro de Investigación y Docencia Económicas (CIDE)
Subject:	Income asset markets \| constrained suboptimality \| transversality theory

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Extent:	application/pdf
Series:	Working papers.
Type of publication:	Book / Working Paper
Notes:	Number DTE 466 25 pages
Classification:	A23 - Graduate ; C60 - Mathematical Methods and Programming. General ; D52 - Incomplete Markets ; D60 - Welfare Economics. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010735062