Regular economies with ambiguity aversion

Noé Biheng and Jean-Marc Bonnisseau

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 family of exchange economies where consumers have multiprior preferences representing their ambiguity aversion. Under a linear independence assumption, we prove that regular economies are generic. Regular economies exhibit enjoyable properties: odd finite number of equilibrium prices, local constancy of this number and local differentiable selections of the equilibrium prices. Thus, even if ambiguity aversion is represented by non-differentiable multiprior preferences, economies retain generically the properties of the differentiable approach

Keywords: Demand function; general equilibrium; ambiguity aversion; multiprior preferences; regular economies; Lipschitz behavior (search for similar items in EconPapers)
JEL-codes: C6 D4 D5 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2013-12
New Economics Papers: this item is included in nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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ftp://mse.univ-paris1.fr/pub/mse/CES2013/13083.pdf (application/pdf)

Related works:
Journal Article: Regular economies with ambiguity aversion (2015)
Working Paper: Regular economies with ambiguity aversion (2015)
Working Paper: Regular economies with ambiguity aversion (2015)
Working Paper: Regular economies with ambiguity aversion (2015)
Working Paper: Regular economies with ambiguity aversion (2013)
Working Paper: Regular economies with ambiguity aversion (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:13083

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