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On the Convergence to Homogeneous Expectations when Markets Are Complete

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  • Aloisio Araujo
  • Alvaro Sandroni

Abstract

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Suggested Citation

  • Aloisio Araujo & Alvaro Sandroni, 1999. "On the Convergence to Homogeneous Expectations when Markets Are Complete," Econometrica, Econometric Society, vol. 67(3), pages 663-672, May.
    • Handle: RePEc:ecm:emetrp:v:67:y:1999:i:3:p:663-672
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    Cited by:

    1. Martins-da-Rocha, V. Filipe & Vailakis, Yiannis, 2012. "Endogenous debt constraints in collateralized economies with default penalties," Journal of Mathematical Economics, Elsevier, vol. 48(1), pages 1-13.
    2. Sergio Santoro, 2017. "Heterogeneity and learning with complete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 183-211, June.
    3. Calvet, Laurent-Emmanuel & Grandmont, Jean-Michel & Lemaire, Isabelle, 2018. "Aggregation of heterogenous beliefs, asset pricing, and risk sharing in complete financial markets," Research in Economics, Elsevier, vol. 72(1), pages 117-146.
    4. Martins-da-Rocha, Victor Filipe & Vailakis, Yiannis, 2008. "Collateral, default penalties and almost finite-time solvency," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 670, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    5. Dindo, Pietro, 2019. "Survival in speculative markets," Journal of Economic Theory, Elsevier, vol. 181(C), pages 1-43.
    6. Felipe Zurita, 2001. "Speculation in Financial Markets: A Survey," Documentos de Trabajo 197, Instituto de Economia. Pontificia Universidad Católica de Chile..
    7. Don Webber & Paul White, 2003. "Regional Factor Price Convergence Across Four Major European Countries," Regional Studies, Taylor & Francis Journals, vol. 37(8), pages 773-782.
    8. Frank Riedel, 2003. "Arrow-Debreu equilibria with asymptotically heterogeneous expectations exist," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(4), pages 929-934, June.
    9. Brock, W.A. & Hommes, C.H. & Wagener, F.O.O., 2009. "More hedging instruments may destabilize markets," Journal of Economic Dynamics and Control, Elsevier, vol. 33(11), pages 1912-1928, November.
    10. Araujo, Aloisio & da Silva, Pietro & Faro, José Heleno, 2016. "Ambiguity aversion in the long run: “To disagree, we must also agree”," Journal of Economic Theory, Elsevier, vol. 165(C), pages 242-256.
    11. Patrick Leoni, "undated". "When Are Market Crashes Driven by Speculation?," IEW - Working Papers 197, Institute for Empirical Research in Economics - University of Zurich.
    12. Tarek Coury & Emanuela Sciubba, 2012. "Belief heterogeneity and survival in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 49(1), pages 37-58, January.
    13. Victor Filipe Martins da Rocha & Rafael Mouallem Rosa, 2022. "Complete Markets with Bankruptcy Risk and Pecuniary Default Penalties," Post-Print hal-03511570, HAL.
    14. Lars Peter Hansen & Thomas J Sargent, 2014. "Robust Control and Model Misspecification," World Scientific Book Chapters, in: UNCERTAINTY WITHIN ECONOMIC MODELS, chapter 6, pages 155-216, World Scientific Publishing Co. Pte. Ltd..
    15. Leoni, Patrick L., 2011. "Psychological determinants of occurrence and magnitude of market crashes," Economic Modelling, Elsevier, vol. 28(5), pages 2190-2196, September.
    16. Jean Pietro Bonaldi Varón, 2008. "Existence of Equilibrium in Financial Markets: Hart´s Securities Exchange Model with Consumption in the First Period," Documentos CEDE 6711, Universidad de los Andes, Facultad de Economía, CEDE.
    17. Victor Filipe Martins da Rocha & Rafael Mouallem Rosa, 2021. "Complete Markets with Bankruptcy Risk and Pecuniary Default Penalties," Working Papers hal-02921220, HAL.
    18. V. Filipe Martins-da-Rocha & Rafael Mouallem Rosa, 2023. "Complete markets with bankruptcy risk and pecuniary default punishments," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(3), pages 625-640, April.
    19. Branch, William A. & McGough, Bruce, 2008. "Replicator dynamics in a Cobweb model with rationally heterogeneous expectations," Journal of Economic Behavior & Organization, Elsevier, vol. 65(2), pages 224-244, February.
    20. Patarick Leoni, 2007. "Psychological Aspects of Market Crashes," Economics Department Working Paper Series n1730407, Department of Economics, National University of Ireland - Maynooth.
    21. Patrick Leoni, 2009. "Market crashes, speculation and learning in financial markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 39(2), pages 217-229, May.
    22. Andrés Carvajal & Alvaro Riascos, 2006. "Belief Non-Equivalence And Financial Trade: A Comment On A Result By Araujo And Sandroni," Documentos CEDE 2062, Universidad de los Andes, Facultad de Economía, CEDE.
    23. Victor Filipe Martins da Rocha & Rafael Mouallem Rosa, 2023. "Complete Markets with Bankruptcy Risk and Pecuniary Default Penalties," Post-Print hal-02921220, HAL.

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