Advanced Search
MyIDEAS: Login to save this paper or follow this series

Endogenized Production Sets in a General Equilibrium Model with Incomplete Markets

Contents:

Author Info

  • Pascal Christian Stiefenhofer
Registered author(s):

    Abstract

    The paper develops a general equilibrium model with incomplete markets where the asset structure is endogenized. This asset structure allows to consider a new class of objective functions of profit maximizing firms. This class of objective functions is independent of the utilities of the stock holders. Corporate equilibrium properties are studied for this model. It is shown that the organization of production is generally efficient. This result is a consequence of the generalization of the separation theorem of the Arrow-Debreu model to incomplete markets. Finally, the paper shows that corporate equilibria are not independent of the firms financial activities.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.york.ac.uk/media/economics/documents/discussionpapers/2010/1019.pdf
    File Function: Main text
    Download Restriction: no

    Bibliographic Info

    Paper provided by Department of Economics, University of York in its series Discussion Papers with number 10/19.

    as in new window
    Length:
    Date of creation: Jul 2010
    Date of revision:
    Handle: RePEc:yor:yorken:10/19

    Contact details of provider:
    Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
    Phone: (0)1904 323776
    Fax: (0)1904 323759
    Email:
    Web page: http://www.york.ac.uk/economics/
    More information through EDIRC

    Related research

    Keywords:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:yor:yorken:10/19. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paul Hodgson).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.