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Competitive prices for a stochastic input–output model with infinite time horizon

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  • Stephen Clark

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  • Stephen Clark, 2008. "Competitive prices for a stochastic input–output model with infinite time horizon," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(1), pages 1-17, April.
    • Handle: RePEc:spr:joecth:v:35:y:2008:i:1:p:1-17
    DOI: 10.1007/s00199-007-0225-8
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    References listed on IDEAS

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    1. Manuel S. Santos & Michael Woodford, 1997. "Rational Asset Pricing Bubbles," Econometrica, Econometric Society, vol. 65(1), pages 19-58, January.
    2. Majumdar, Mukul & Mitra, Tapan & McFadden, Daniel, 1976. "On efficiency and Pareto optimality of competitive programs in closed multisector models," Journal of Economic Theory, Elsevier, vol. 13(1), pages 26-46, August.
    3. Ahmet U. Alkan, 1980. "Efficient Programmes for Polyhedral Technologies are Competitive," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(2), pages 465-471.
    4. R. Radner, 1967. "Efficiency Prices for Infinite Horizon Production Programmes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 34(1), pages 51-66.
    5. Majumdar, Mukul, 1972. "Some general theorems on efficiency prices with an infinite-dimensional commodity space," Journal of Economic Theory, Elsevier, vol. 5(1), pages 1-13, August.
    6. Harrison, J. Michael & Pliska, Stanley R., 1981. "Martingales and stochastic integrals in the theory of continuous trading," Stochastic Processes and their Applications, Elsevier, vol. 11(3), pages 215-260, August.
    7. Mitra, Tapan & Majumdar, Mukul, 1976. "A note on the role of the transversality condition in signalling capital overaccumulation," Journal of Economic Theory, Elsevier, vol. 13(1), pages 47-57, August.
    8. Bertocchi, Graziella & Kehagias, Athanasios, 1995. "Efficiency and optimality in stochastic models with production," Journal of Economic Dynamics and Control, Elsevier, vol. 19(1-2), pages 303-325.
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    Cited by:

    1. E. Babaei & I.V. Evstigneev & K.R. Schenk-Hoppé & M.V. Zhitlukhin, 2018. "Von Neumann-Gale Dynamics and Capital Growth in Financial Markets with Frictions," Economics Discussion Paper Series 1815, Economics, The University of Manchester.

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    More about this item

    Keywords

    Arbitrage; Capital; Competitive prices; Efficiency; Martingale; Securities; Supermartingale; D41; G12;
    All these keywords.

    JEL classification:

    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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