Symmetry in Models with Pure and Almost Pure Individual Risks

Hervé Crès and I. Rossi

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: This paper investigate the existence of asymmetric equilibria in a pure exchange economy with individual risks. The model is an extension of Malinvaud's (1973). Agents face identical pure individual risks: their endowments and utility functions only depend on their individual state; but there exists one good for which some aggregate component of the risk is introduced through endowments: individual risks are 'almost pure'.

Keywords: GENERAL EQUILIBRIUM; RISK (search for similar items in EconPapers)
JEL-codes: D50 (search for similar items in EconPapers)
Pages: 36 pages
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:97.24

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