On Equilibrium Uniqueness in Multi-Asset Noisy Rational Expectations Economies

This paper studies equilibrium uniqueness in multi-asset noisy rational expectations economies with asymmetric information, an extension of Grossman and Stiglitz (1980). We show the existence of a linear equilibrium, and prove its uniqueness among equilibria with any continuous price function. Finally, we provide several other examples of multi-asset, asymmetric information economies that admit unique continuous equilibria

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Year of publication:	2015
Authors:	Pálvölgyi, Dömötör
Other Persons:	Venter, Gyuri (contributor)
Publisher:	[2015]: [S.l.] : SSRN
Subject:	Rationale Erwartung \| Rational expectations \| Gleichgewichtstheorie \| Equilibrium theory \| Gleichgewichtsmodell \| Equilibrium model \| Spieltheorie \| Game theory

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Extent:	1 Online-Ressource (17 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 16, 2015 erstellt
Other identifiers:	10.2139/ssrn.2631627 [DOI]
Classification:	G12 - Asset Pricing ; G14 - Information and Market Efficiency; Event Studies ; D40 - Market Structure and Pricing. General ; D53 - Financial Markets ; D82 - Asymmetric and Private Information
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013019262