Economics at your fingertips  

Incomplete markets, continuum of states and default

Aloisio Araujo, Mario Pascoa and Paulo Monteiro

Economic Theory, 1997, vol. 11, issue 1, 205-213

Abstract: We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

Date: 1997-11-17
Note: Received: November 20, 1995; revised version: September 16, 1996
References: Add references at CitEc
Citations: View citations in EconPapers (14) Track citations by RSS feed

Downloads: (external link) (application/pdf) ... 11001/ (application/postscript)
Access to the full text of the articles in this series is restricted

Related works:
Working Paper: Incomplete markets, continuum of states and default (1998) Downloads
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:

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2022-05-12
Handle: RePEc:spr:joecth:v:11:y:1997:i:1:p:205-213