Complete Markets of Arrow and Debreu and the Dynamic Disequilibrium

Yuli Radev

Economic Thought journal, 2012, issue 2, 35-56, 57-75

Abstract: This article discusses the two main models of complete markets, the criticism to them that form the early Arrow-Debreu theory, as well as the supplements and the shortcomings of the so-called revised version of the theory. We underline the most important consequences from this theory and present generalized comments.

JEL-codes: A10 B21 C02 D01 (search for similar items in EconPapers)
Date: 2012
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