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Arrow-Debreu equilibria with asymptotically heterogeneous expectations exist

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  • Frank Riedel

Abstract

In infinite horizon economies only local equivalence of beliefs is needed to ensure the existence of an Arrow–Debreu equilibrium. In fact, agents can even disagree completely in the long run in the sense that asymptotically, their beliefs are singular. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • 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.
    • Handle: RePEc:spr:joecth:v:21:y:2003:i:4:p:929-934
    DOI: 10.1007/s00199-002-0264-0
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    Cited by:

    1. 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.
    2. Victor Filipe Martins da Rocha & Rafael Mouallem Rosa, 2022. "Complete Markets with Bankruptcy Risk and Pecuniary Default Penalties," Post-Print hal-03511570, HAL.
    3. Victor Filipe Martins da Rocha & Rafael Mouallem Rosa, 2021. "Complete Markets with Bankruptcy Risk and Pecuniary Default Penalties," Working Papers hal-02921220, HAL.
    4. 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.
    5. Victor Filipe Martins da Rocha & Rafael Mouallem Rosa, 2023. "Complete Markets with Bankruptcy Risk and Pecuniary Default Penalties," Post-Print hal-02921220, HAL.

    More about this item

    Keywords

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    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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