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Equilibrium and arbitrage in incomplete asset markets with fixed prices Author info | Abstract | Publisher info | Download info | Related research | Statistics HERINGS, Jean-Jacques
POLEMARCHAKIS, Heracles
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At arbitrary prices of commodities and assets, fix-price equilibria exist under weak assumptions: endowments need not satisfy an interiority condition, utility functions need only satisfy very weak monotonicity requirement, and the asset return matrix allows for redundant assets. Prices of assets may permit arbitrage. At equilibrium, though restricted through endogenously determined trading constraints, arbitrage possibilities may persist; in an example, an individual holds an arbitrage portfolio.
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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number
2000026.
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Date of creation: 01 Mar 2000Date of revision:
Handle: RePEc:cor:louvco:2000026Contact details of provider: Postal: Voie du Roman Pays 34, 1348 Louvain-la-Neuve (Belgium) Phone: 32(10)474321 Fax: +32 10474301 Email: Web page: http://www.uclouvain.be/core More information through EDIRC
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Keywords: incomplete asset market ; Þx-price equilibrium ; arbitrage. ; Other versions of this item:
Article Paper Herings,P. Jean-Jacques & Polemarchakis,H. M., 2000.
"Equilibrium and arbitrage in incomplete asset markets with fixed prices ,"
Research Memoranda
007, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
[Downloadable!] P.J.J. Herings & Herakles Polemarchakis, 2001.
"Equilibrium and arbitrage in incomplete asset markets with fixed prices ,"
Working Papers
2001-28, Brown University, Department of Economics.
[Downloadable!] Herings,P. Jean-Jacques & Polemarchakis,H. M., 2002.
"Equilibrium and arbitrage in incomplete asset markets with fixed prices ,"
Research Memoranda
007, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
[Downloadable!] Find related papers by JEL classification: D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets D60 - Microeconomics - - Welfare Economics - - - General
References listed on IDEAS 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.:
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Herings, P Jean-Jacques, 1996.
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Polemarchakis, H. M. & Ku, Bon-Il, 1990.
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Gottardi, Piero & Hens, Thorsten, 1996.
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Other versions: Greenwald, Anthony G & Leavitt, Clark, 1984.
" Audience Involvement in Advertising: Four Levels ,"
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Duffie, Darrell & Shafer, Wayne, 1985.
"Equilibrium in incomplete markets: I : A basic model of generic existence ,"
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Lee, Hanjoon & Lindquist, Jay D. & Acito, Frank, 1997.
"Managers' evaluation of research design and its impact on the use of research: An experimental approach ,"
Journal of Business Research ,
Elsevier, vol. 39(3), pages 231-240, July.
[Downloadable!] (restricted)
Full
references Cited by : (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.)
P. J. J. Herings & H. M. Polemarchakis, 2003.
"Pareto Improving Price Regulation When the Asset Market is Incomplete ,"
Discussion Papers
03-20, University of Copenhagen. Department of Economics.
[Downloadable!]
Other versions:
Herings, P.J.J. & Polemarchakis, H.M., 1999.
"Pareto improving price regulation when the asset market is incomplete ,"
Discussion Paper
30, Tilburg University, Center for Economic Research.
[Downloadable!] HERINGS, Jean-Jacques & POLEMARCHAKIS, Heracles, 1998.
"Pareto improving price regulation when the asset mareket is incompete ,"
CORE Discussion Papers
1998041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
[Downloadable!] Herings,P. Jean-Jacques & Polemarchakis,H. M., 2000.
"Pareto Improving Price Regulation When the Asset Market Is Incomplete ,"
Research Memoranda
008, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
[Downloadable!] P. Jean-Jacques Herings & Heracles M. Polemarchakis, 1999.
"Pareto Improving Price Regulation When the Asset Market Is Incomplete ,"
Cowles Foundation Discussion Papers
1210, Cowles Foundation, Yale University.
[Downloadable!] Herings,P. Jean-Jacques & Polemarchakis,H. M., 2002.
"Pareto Improving Price Regulation When the Asset Market Is Incomplete ,"
Research Memoranda
008, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
[Downloadable!] P. Herings & Herakles Polemarchakis, 2005.
"Pareto improving price regulation when the asset market is incomplete ,"
Economic Theory ,
Springer, vol. 25(1), pages 135-154, 01.
[Downloadable!] (restricted) Babenko, Roman & Talman, Dolf, 2006.
"Quantity constrained general equilibrium ,"
Discussion Paper
125, Tilburg University, Center for Economic Research.
[Downloadable!]
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