Arrow-Debreu equilibria with asymptotically heterogeneous expectations exist

Frank Riedel

Economic Theory, 2003, vol. 21, issue 4, 929-934

Abstract: In infinite horizon economies only local equivalence of beliefs is needed to ensure the existence of an Arrow–Debreu equilibrium. In fact, agents can even disagree completely in the long run in the sense that asymptotically, their beliefs are singular. Copyright Springer-Verlag Berlin Heidelberg 2003

Keywords: Keywords and Phrases: Heterogeneous expectations; Arrow-Debreu equilibrium.; JEL Classification Numbers: D51; D84. (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s00199-002-0264-0

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