Van, Cuong Le; Page, Frank H.; Wooders, Myrna H. - HAL - 2007
characterizes competitive equilibrium in thepresence of externalities. … and externalities such as trading volume. We then demonstrate that NRAP is sufficient for the existence of competitive … equilibrium in the presence ofexternalities. Moreover, we show that if all risky arbitrages are utility increasing, then NRAP …