Quasi equilibria for growth economies

Jonathan Burke

Economics Letters, 2009, vol. 105, issue 3, 197-199

Abstract: We find preferences that discount utility from future consumption yet violate the standard growth condition in representative-agent endowment economies. Such economies have no competitive equilibria, but have quasi equilibria. The supporting price systems include a type of speculative bubble.

Keywords: Competitive; equilibria; Quasi; equilibria; Speculative; bubble (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165-1765(09)00235-3
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:105:y:2009:i:3:p:197-199

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().