On the survival and irreducibility assumptions for financial markets with nominal assets

Abdelkrim Seghir, Leila Triki () and Stella Kanellopoulou ()
Additional contact information
Leila Triki: CERMSEM
Stella Kanellopoulou: CERMSEM

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: We are interested in proving an equilibrium existence result in a general equilibrium model with incomplete nominal asset markets. When we relax the assumption of strict positivity of initial endowments, then, as it is the case for every general equilibrium existence problem, we need to introduce survival, and irreducibility assumptions, whose formulation is the object of this paper. The financial economy that we consider is a two period exchange economy where agents' preferences on their consumption sets may be non-ordered and do not satisfy monotonicity

Keywords: Incomplete markets; arbitrage; quasi equilibrium; nominal assets; survival assumptions; irreducibility (search for similar items in EconPapers)
JEL-codes: C62 D52 G10 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2004-01
New Economics Papers: this item is included in nep-fin
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mse:wpsorb:b04008

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