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Arbitrage and equilibrium in unbounded exchange economies with satiation
Allouch, Nizar; Van, Cuong Le; Page, Frank H. - HAL - 2006
local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded … admit existence without local or global nonsatiation? This question is the focus of our paper. First, we show that in … clear is that it is precisely the condition of weak nonsatiation - a condition considerably weaker than local or global …
Persistent link: https://www.econbiz.de/10010750785
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Arbitrage and equilibrium in unbounded exchange economies with satiation
Allouch, Nizar; Van, Cuong Le; Page, Frank H. - HAL - 2006
local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded … admit existence without local or global nonsatiation? This question is the focus of our paper. First, we show that in … clear is that it is precisely the condition of weak nonsatiation - a condition considerably weaker than local or global …
Persistent link: https://www.econbiz.de/10008795214
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Risky Arbitrage, Asset Prices, and Externalities
Van, Cuong Le; Page, Frank H.; Wooders, Myrna H. - HAL - 2007
We introduce a no-risky-arbitrage price condition (NRAP) for asset market models allowing both unbounded short sales 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...
Persistent link: https://www.econbiz.de/10010750767
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Risky Arbitrage, Asset Prices, and Externalities
Van, Cuong Le; Page, Frank H.; Wooders, Myrna H. - HAL - 2007
We introduce a no-risky-arbitrage price condition (NRAP) for asset market models allowing both unbounded short sales 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...
Persistent link: https://www.econbiz.de/10008795517
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Walras and dividends equilibrium with possibly satiated consumers
Allouch, Nizar; Van, Cuong Le - HAL - 2008
The main contribution of the paper is to provide a weaker non-satiation assumption than the one commonly used in the literature to ensure the existence of competitive equilibrium. Our assumption allows for satiation points in the set of individually feasible consumptions, provided that the...
Persistent link: https://www.econbiz.de/10010750427
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Walras and dividends equilibrium with possibly satiated consumers
Allouch, Nizar; Van, Cuong Le - HAL - 2008
The main contribution of the paper is to provide a weaker non-satiation assumption than the one commonly used in the literature to ensure the existence of competitive equilibrium. Our assumption allows for satiation points inside the set of individually feasible consumptions, provided that the...
Persistent link: https://www.econbiz.de/10010750794
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Walras and dividends equilibrium with possibly satiated consumers
Allouch, Nizar; Van, Cuong Le - HAL - 2008
The main contribution of the paper is to provide a weaker non-satiation assumption than the one commonly used in the literature to ensure the existence of competitive equilibrium. Our assumption allows for satiation points inside the set of individually feasible consumptions, provided that the...
Persistent link: https://www.econbiz.de/10008795243
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Walras and dividends equilibrium with possibly satiated consumers
Allouch, Nizar; Van, Cuong Le - HAL - 2008
, nous montrons que le concept d'équilibres avec dividendes (Aumann et Dreze, 1986 ; Mas-Collel, 1992) est pertinent si l …
Persistent link: https://www.econbiz.de/10008795932
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No-arbitrage, overlapping sets of priors and the existence of efficient allocations and equilibria in the presence of risk and ambiguity
Dana, Rose-Anne; Van, Cuong Le - HAL - 2009
levels of wealths either positive or negative. It is equivalent to the condition that there does not exist mutually …
Persistent link: https://www.econbiz.de/10010738543
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Modelling Transition And International Opening In Asia: The Case Of Vietnam With A Comparison With China And The "Asian Tigers"
Sand-Zantman, Alain; Brillet, Jean-Louis; Van, Cuong Le; … - HAL - 2000
This paper describes the multisectoral macroeconomic model of a small developing economy in transition, in order to highlight linkages between agriculture and the rest of the economy, and consequences of external opening up. Agriculture is a supply sector, sticky in the short range with market...
Persistent link: https://www.econbiz.de/10010738574