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An alternative proof for the existence of Radner equilibria

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  • Yoo, Seung Han

Abstract

This paper explores ‘competitive equilibrium under uncertainty’ by Radner (1968). We provide a simple proof for the existence of a Walrasian equilibrium and characterize the maximal number of markets in the extended Arrow–Debreu economy.

Suggested Citation

  • Yoo, Seung Han, 2013. "An alternative proof for the existence of Radner equilibria," Mathematical Social Sciences, Elsevier, vol. 66(1), pages 87-90.
    • Handle: RePEc:eee:matsoc:v:66:y:2013:i:1:p:87-90
    DOI: 10.1016/j.mathsocsci.2013.01.006
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    1. Krasa, Stefan & Temimi, Akram & Yannelis, Nicholas C., 2003. "Coalition structure values in differential information economies: is unity a strength?," Journal of Mathematical Economics, Elsevier, vol. 39(1-2), pages 51-62, February.
    2. Beth Allen, 2000. "The Future of Microeconomic Theory," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 143-150, Winter.
    3. Dionysius Glycopantis & Allan Muir & Nicholas C. Yannelis, 2003. "On extensive form implementation of contracts in differential information economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(2), pages 495-526, March.
    4. Herves-Beloso, Carlos & Moreno-Garcia, Emma & Yannelis, Nicholas C., 2005. "An equivalence theorem for a differential information economy," Journal of Mathematical Economics, Elsevier, vol. 41(7), pages 844-856, November.
    5. Allen, Beth, 1990. "Information as an Economic Commodity," American Economic Review, American Economic Association, vol. 80(2), pages 268-273, May.
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    Cited by:

    1. Klishchuk, Bogdan, 2015. "New conditions for the existence of Radner equilibrium with infinitely many states," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 67-73.

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