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On Generically Complete Markets With an Open-Ended Horizon

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Author Info
Bottazzi, J.-M.
Meddeb, M.

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Abstract

In this paper we generalize Magill and Shafer's analysis of generically complete markets in the presence of an open-ended horizon. Until now, the genericity argument in Duffie and Shafer has no satisfactory generalisation to the case of an open ended horizon. These difficulties are threefold: how to get differentiability of an equilibrium equation; which transversality theorem can be applied; and how to "count" dimensions?

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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Papiers d'Economie Mathématique et Applications with number 1999.83.

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Length: 19 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:fth:pariem:1999.83

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Postal: France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France
Web page: http://cermsem.univ-paris1.fr/
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Related research
Keywords: MARKET ; ECONOMICS ; PRODUCTION;

Find related papers by JEL classification:
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets

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This page was last updated on 2009-12-16.

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