Incomplete Markets, Allocative Efficiency and the Information Revealed by Prices

Alessandro Citanna () and Antonio Villanacci
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Alessandro Citanna: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique
Antonio Villanacci: UniFI - Università degli Studi di Firenze = University of Florence = Université de Florence

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Abstract: In this paper we compare rational expectations equilibria with different degrees of information revelation through prices. These equilibria arise in a two-period exchange economy with finitely many states and signals, multiple commodities and incomplete f

Keywords: Incomplete Markets; Allocative Efficiency; Prices (search for similar items in EconPapers)
Date: 1997
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Published in 1997

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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-00601867

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