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Subjective expectations equilibrium in economies with uncertain delivery

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Author Info
Correia-da-Silva, João
Hervés-Beloso, Carlos

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Abstract

We develop a model of general equilibrium with trade ex ante in a context of private and incomplete state verification. Instead of choosing bundles, agents choose lists of bundles out of which the market then selects one bundle for delivery. With agents having subjective expectations about the bundle that will be delivered, we study existence of a subjective expectations equilibrium.

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File URL: http://www.sciencedirect.com/science/article/B6VBY-4NDDT6G-1/1/61a94a9eddd02e7f825a7754f31dfece
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Publisher Info
Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 44 (2008)
Issue (Month): 7-8 (July)
Pages: 641-650
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Handle: RePEc:eee:mateco:v:44:y:2008:i:7-8:p:641-650

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Web page: http://www.elsevier.com/locate/jmateco

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Pollak, Robert A, 1977. "Price Dependent Preferences," American Economic Review, American Economic Association, vol. 67(2), pages 64-75, March. [Downloadable!] (restricted)
  2. Balasko, Yves, 2003. "Economies with price-dependent preferences," Journal of Economic Theory, Elsevier, vol. 109(2), pages 333-359, April. [Downloadable!] (restricted)
  3. Hildenbrand, W & Mertens, J F, 1972. "Upper Hemi-Continuity of the Equilibrium-Set Correspondence for Pure Exchange Economies," Econometrica, Econometric Society, vol. 40(1), pages 99-108, January. [Downloadable!] (restricted)
  4. Yannelis, Nicholas C, 1991. "The Core of an Economy with Differential Information," Economic Theory, Springer, vol. 1(2), pages 183-97, April.
  5. Joao Correia-da-Silva & Carlos Hervés-Beloso, 2006. "Prudent Expectations Equilibrium in Economies with Uncertain Delivery," FEP Working Papers 216, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos Hervés-Beloso & V. Martins-da-Rocha & Paulo Monteiro, 2009. "Equilibrium theory with asymmetric information and infinitely many states," Economic Theory, Springer, vol. 38(2), pages 295-320, February. [Downloadable!] (restricted)
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  2. Joao Correia-da-Silva, 2009. "Uncertain delivery in markets for lemons," FEP Working Papers 310, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
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  3. Joao Correia-da-Silva & Carlos Hervés-Beloso, 2006. "Rational Expectations Equilibrium in Economies with Uncertain Delivery," FEP Working Papers 206, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
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