Search Results - subject:"Extrinsic uncertainty"

Chatterji, Shurojit; Chattopadhyay, Subir - Centro de Investigación Económica (CIE), Departamento … - 2002

Consider a one step forward looking self-referential model with a one dimensional state variable where the information set available to agents when they make their forecast for the next period includes the current realization of an extrinsic random process but does not include the current value...

Persistent link: https://www.econbiz.de/10005310421

Utility-Based Utility

Cass, David - Department of Economics, University of Pennsylvania - 2007

extremely natural setting for introducing extrinsic uncertainty. The key idea is to divorce the concept of filtration (of the …

Persistent link: https://www.econbiz.de/10005061921

Utility-Based Utility

Cass, David - Department of Economics, University of Pennsylvania - 2007

affords an extremely natural setting for introducing extrinsic uncertainty. The key idea behind my approach is to divorce the …

Persistent link: https://www.econbiz.de/10005126672

Multiplicity and Sunspots in General Financial Equilibrium with Portfolio Constraints

Basak, Suleyman; Cass, David; Licari, Juan Manuel; … - Department of Economics, University of Pennsylvania - 2006

This paper explores the role of portfolio constraints in generating multiplicity of equilibrium. We present a simple asset market economy with two goods and two households, households who face constraints on their ability to take unbounded positions in risky stocks. Absent such constraints,...

Persistent link: https://www.econbiz.de/10005102095

The relevance of extrinsic uncertainty

POLEMARCHAKIS, Heracles; VENTURA, Luigi - Center for Operations Research and Econometrics (CORE), … - 1995

Extrinsic uncertainty is effective at a competitive equilibrium. This is generic if spot markets are inoperative: the … structure of payoffs of assets may allow for non-trivial allocations invariant with respect to the extrinsic uncertainty, and …

Persistent link: https://www.econbiz.de/10005043446

The relevance of extrinsic uncertainty

POLEMARCHAKIS, Heracles M.; VENTURA, Luigi - HEC Paris (École des Hautes Études Commerciales) - 2000

Extrinsic uncertainty is effective at a competitive equilibrium. This is generically the case if commodities are … equilibrium allocations are constrained pareto optimal : effective extrinsic uncertainty is not disadvantageous, given the …> The structure of payoffs of assets may allow for non - trivial allocations invariant with respect to the extrinsic …

Persistent link: https://www.econbiz.de/10005021601