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We consider a pure exchange economy under uncertainty in which the traders have the non-partition structure of information. They willing to trade the amounts of state-contingent commodities and they know their own expectations. Common knowledge of these conditions among all the traders can...
Persistent link: https://www.econbiz.de/10004992515
Primarily following Bridges-Mehta (1995) and Herden-Pallack (2002), this paper is a discussion of the equivalent re-formalizations of the utility representation problem. Our contribution to this widely discussed theory of economic literature is that we consider the representation theorem as a...
Persistent link: https://www.econbiz.de/10015220098
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Persistent link: https://www.econbiz.de/10002244066