Subjective expectations equilibrium in economies with uncertain delivery

Joao Correia-da-Silva and Carlos Hervés-Beloso

Journal of Mathematical Economics, 2008, vol. 44, issue 7-8, 641-650

Abstract: We develop a model of general equilibrium with trade ex ante in a context of private and incomplete state verification. Instead of choosing bundles, agents choose lists of bundles out of which the market then selects one bundle for delivery. With agents having subjective expectations about the bundle that will be delivered, we study existence of a subjective expectations equilibrium.

Date: 2008
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Working Paper: Subjective Expectations Equilibrium in Economies with Uncertain Delivery (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:44:y:2008:i:7-8:p:641-650

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