Symmetry in Models with Pure and Almost Pure Individual Risks
AbstractThis paper investigate the existence of asymmetric equilibria in a pure exchange economy with individual risks. The model is an extension of Malinvaud's (1973). Agents face identical pure individual risks: their endowments and utility functions only depend on their individual state; but there exists one good for which some aggregate component of the risk is introduced through endowments: individual risks are 'almost pure'.
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Bibliographic InfoPaper provided by UniversitÃ© PanthÃ©on-Sorbonne (Paris 1) in its series Papiers d'Economie MathÃ©matique et Applications with number 97.24.
Length: 36 pages
Date of creation: 1997
Date of revision:
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GENERAL EQUILIBRIUM ; RISK;
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- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
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