The competitive equilibrium correspondence, which associates equilibrium prices of commodities and assets with allocations of endowments, identifies the preferences and beliefs of individuals under uncertainty; this is the case even if the asset market is incomplete.

We are interested in general equilibrium incomplete markets, where the number of consumers is N, the number of goods is L, and the dimension of the space of admissible trades is K (the case of complete markets being then K=(L−1)). We prove that, if N≥K, any non-vanishing analytic function...

The fundamentals of an exchange economy, the preferences of individuals, can be identified from the competitive equilibrium correspondence, which associates equilibrium prices of commodities to allocations of endowments; the argument extends to production economies. The essential step is the...

The paper provides an introduction to exterior differential calculus, and an application to the standard problem of the characterization of aggregate demand in an economy in which the number of agents is smaller than the number of goods.

This paper considers the identification and estimation of hedonic models. We establish that in an additive version of the hedonic model, technology and preferences are generically nonparametrically identified from data on demand and supply in a single hedonic market. The empirical literature...

We introduce a bond portfolio management theory based on foundations similar to those of stock portfolio management. A general continuous-time zero-coupon market is considered. The problem of optimal portfolios of zero-coupon bonds is solved for general utility functions, under a condition of...

We consider a problem of derivatives design under asymmetry of information: the principal sells a contingent claim to an agent, the type of whom he does not know. More precisely, the principal designs a contingent claim and prices it for each possible agent type, in such a way that each agent...

This is a review of recent results on the disaggregation problem: given a collective demand function, is it or is it not the sum of individual demand functions, and, if it is, can one retrieve the individual demands from their given sum? There are several variants to this problem, depending on...

A travers la question juridique, économique, sociale et politique des services publics, c'est la question de leur idée même qui est aujourd'hui posée. Peut-on encore la soutenir ? En quels termes ? L'exception française est-elle durable ?

Ce document réunit deux conférences. I. Ekeland, dans Formalisation mathématique et théorie économique, défend l'idée que l'économie est une science et qu'elle est donc soumise aux mêmes critères de précision du langage. J. Elster, dans L'indétermination de la théorie du choix...