Subjective Expectations Equilibrium in Economies with Uncertain Delivery

Joao Correia-da-Silva and Carlos Hervés-Beloso

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: In economies with uncertain delivery, agents trade their endowments for lists instead of bundles. A list specifies a set of bundles such that the agent has the right to receive one of them. In this paper, with continuity conditions on private beliefs about the bundle that will be delivered, we establish existence of a subjective expectations equilibrium.

Keywords: Private information; Uncertain delivery; Subjective expectations equilibrium; General equilibrium; Incomplete information; Real options. (search for similar items in EconPapers)
JEL-codes: C62 D51 D82 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2005-10
New Economics Papers: this item is included in nep-mic
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Subjective expectations equilibrium in economies with uncertain delivery (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:190

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