Non-existence of general equilibrium with EUU preferences

Joao Correia-da-Silva

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

Abstract: In the presence of events that are seen as ambiguous by all agents in an economy, if preferences are representable by expected uncertain utility functions (Gul and Pesendorfer, 2014), general equilibrium does not typically exist.

Keywords: Expected uncertain utility; General equilibrium; Non-existence. (search for similar items in EconPapers)
JEL-codes: C62 D51 D81 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2014-10
New Economics Papers: this item is included in nep-mic and nep-upt
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