original papers : Uniqueness of Arrow-Debreu and Arrow-Radner equilibrium when utilities are additively separable
This survey paper has three purposes: We first present in finite dimension, different approaches to the problem of uniqueness of Arrow-Debreu equilibrium when agents have additively separable utilities. We then study how, in the specific framework of a two period contingent good economy the results obtained generalize to infinite dimension. We consider economies where agents' consumption space is $L^p_+ (\mu)\; 1 \leq p \leq \infty$ and agents' utilities are additively separable. Lastly, we show that in some restricted settings, some results may be used to prove uniqueness of Arrow-Radner equilibria when there are incomplete financial markets.
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Volume (Year): 6 (2001)
Issue (Month): 2 ()
Pages: 155-173
| Handle: | RePEc:spr:reecde:v:6:y:2001:i:2:p:155-173 |
| Contact details of provider: | Web page: http://www.springer.com Web page: https://sites.google.com/site/societyforeconomicdesign/
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| Order Information: | Web: http://www.springer.com/economics/journal/10058 |
References listed on IDEAS
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- Joseph Greenberg, 1977. "An Elementary Proof of the Existence of a Competitive Equilibrium with Weak Gross Substitutes," The Quarterly Journal of Economics, Oxford University Press, vol. 91(3), pages 513-516.
- Kehoe, Timothy J & Levine, David K, 1985.
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Econometric Society, vol. 53(2), pages 433-453, March.
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- T. J. Kehoe & D. K. Levine, 1982. "Comparative Statics and Perfect Foresight in Infinite Horizon Economies," Working papers 312, Massachusetts Institute of Technology (MIT), Department of Economics.
- Magill, Michael & Shafer, Wayne, 1991. "Incomplete markets," Handbook of Mathematical Economics,in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 30, pages 1523-1614 Elsevier.
- Mas-Colell, Andreu & Zame, William R., 1991. "Equilibrium theory in infinite dimensional spaces," Handbook of Mathematical Economics,in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 34, pages 1835-1898 Elsevier.
- Polterovich, Victor & Mityushin, Leonid, 1978. "Criteria for Monotonicity of Demand Functions," MPRA Paper 20097, University Library of Munich, Germany. Full references (including those not matched with items on IDEAS)
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