Aggregation under Complete Markets
This paper proves a complete market aggregation result for a multiple good economy in which the consumers have time-additive, von Neumannâ€“Morgenstern utility functions. This result applies to all concave intraperiod functions, and provides a contrast to many of the results in the microeconomics literature which depend on such stringent assumptions as linear Engel curves (Copyright: Elsevier)
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Volume (Year): 6 (2003)
Issue (Month): 4 (October)
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