IDEAS home Printed from https://ideas.repec.org/a/hin/jnljam/268427.html
   My bibliography  Save this article

Existence of an Equilibrium for Lower Semicontinuous Information Acquisition Functions

Author

Listed:
  • Agnès Bialecki
  • Eléonore Haguet
  • Gabriel Turinici

Abstract

We consider a two-period model in which a continuum of agents trade in a context of costly information acquisition and systematic heterogeneous expectations biases. Because of systematic biases agents are supposed not to learn from others' decisions. In a previous work under somehow strong technical assumptions a market equilibrium was proved to exist and the supply and demand functions were proved to be strictly monotonic with respect to the price. Here we extend these results under very weak technical assumptions. We also prove that the equilibrium price maximizes the trading volume and further additional properties (such as the antimonotonicity of the trading volume with respect to the marginal information price).

Suggested Citation

  • Agnès Bialecki & Eléonore Haguet & Gabriel Turinici, 2014. "Existence of an Equilibrium for Lower Semicontinuous Information Acquisition Functions," Journal of Applied Mathematics, Hindawi, vol. 2014, pages 1-11, April.
    • Handle: RePEc:hin:jnljam:268427
    DOI: 10.1155/2014/268427
    as

    Download full text from publisher

    File URL: http://downloads.hindawi.com/journals/JAM/2014/268427.pdf
    Download Restriction: no
    File URL: http://downloads.hindawi.com/journals/JAM/2014/268427.xml
    Download Restriction: no
    File URL: https://libkey.io/10.1155/2014/268427?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hin:jnljam:268427. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.