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.

We introduce a procedure that uses basic typological charasteristics of equilibrium correspondences of standard equilibrium concepts, to define broad equivalence classes of finite generic games in normal form. The proposed procedure is viewed as a potentially useful way of both organizing the...

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.

Extrinsic uncertainty is effective at a competitive equilibrium. This is generic if spot markets are inoperative: the only objects of exchange are assets for the contingent delivery of commodities; and the asset market is incomplete. The structure of payoffs of assets may allow for non-trivial...

In a incomplete asset market, firms compute the value of production plans by approximating them with the payoffs of portfolios of marketed assets; equivalently, by projecting their payoffs on the span of the payoffs of marketed assets; equivalently, they apply the capital asset pricing model.

At a Nash-Walras equilibrium, individuals exchange commodities competitively, and, simultaneously, they interact strategically. Under standard assumptions, Nash-Walras equilibria exist, equilibrium profiles of actions are, typically, determinate byt Pareto suboptimal, though not constrained...