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

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.

At a stationary Markov equilibrium of a Markovian economy of overlapping generations, prices at a date-event are determined by the realization of the shock, the distribution of wealth and, with production, the stock of capital. Stationary Markov equilibria may not exist; this is the case with...

Feedback fluid queues play an important role in modeling congestion control mechanisms for packet networks. In this paper we present and analyze a fluid queue with a feedback-based traffic rate adaptation scheme which uses two thresholds. The higher threshold B 1 is used to signal the beginning...

Feedback fluid queues play an important role in modeling congestion control mechanisms for packet networks. In this paper we present and analyze a fluid queue with a feedback-based traffic rate adaptation scheme which uses two thresholds. The higher threshold B <Subscript>1</Subscript> is used to signal the beginning...</subscript>

This paper studies an overlapping generations model with stochastic production and incomplete markets to assess whether the introduction of an unfunded social security system leads to a Pareto improvement. When returns to capital and wages are imperfectly correlated a system that endows retired...

In this paper we argue that in realistically calibrated two period general equilibrium models with incomplete markets CAPM-pricing provides a good benchmark for equilibrium prices even when agents are not mean-variance optimizers and returns are not normally distributed. We numerically...

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