On the existence of equilibrium in an incomplete financial economy with numeraire assets
AbstractThis note provides an intuitive and simple proof of the existence of equilibrium in an incomplete ffnancial economy with numeraire assets, when the preferences are represented by concave, strictly increasing functions..
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Bibliographic InfoPaper provided by Department of Research, Ipag Business School in its series Working Papers with number 2014-106.
Length: 23 pages
Date of creation: 25 Feb 2014
Date of revision:
General Equilibrium; Incomplete Financial Markets; Numeraire assets;
Find related papers by JEL classification:
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-03-08 (All new papers)
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