Sperner’s lemma and competitive equilibrium with incomplete financial markets

Thanh Le, Cuong Le Van, Ngoc-Sang Pham and Çağrı Sağlam

Economics Letters, 2024, vol. 238, issue C

Abstract: We establish the existence of a competitive equilibrium in a two-period stochastic economy with incomplete financial markets by using Sperner’s lemma. Our existence result covers (but is not limited to) several results in the literature, including the cases of nominal and numéraire assets. Moreover, there may exist a continuum of equilibrium prices.

Keywords: Sperner’s lemma; Fixed-point theorem; General equilibrium; Incomplete market; Indeterminacy (search for similar items in EconPapers)
JEL-codes: C60 C62 D5 G1 (search for similar items in EconPapers)
Date: 2024
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Working Paper: Sperner's lemma and competitive equilibrium with incomplete financial markets (2024)
Working Paper: Sperner's lemma and competitive equilibrium with incomplete financial markets (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:238:y:2024:i:c:s0165176524002039

DOI: 10.1016/j.econlet.2024.111720

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