Existence of equilibria via quasi-equilibria

Bernard Cornet and Abhishek Ranjan

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: We consider a 2-date model of a financial exchange economy with finitely many agents having non-ordered preferences and portfolio constraints. There is a market for physical commodities for every state today and tomorrow, and financial transfers across time and states are allowed by means of finitely many nominal or numeraire assets, as in Aouani and Cornet. We prove a general existence result of equilibrium via the existence of quasi-equilibrium, in a financial exchange economy for which portfolios are defined by linear constraints

Keywords: Restricted participation; financial exchange economy; portfolio constraints; quasi-equilibrium; equilibrium (search for similar items in EconPapers)
JEL-codes: C62 D52 D53 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2013-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Existence of equilibria via quasi-equilibria (2013)
Working Paper: Existence of equilibria via quasi-equilibria (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:13020

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