A Model of General Equilibrium with Unforeseen Contingencies
We present a consistent pure-exchange general equilibrium model where agents may not foreseen all possible future contingencies. Even with nominal assets and complete asset markets, in this context an equilibrium may not exist without appropriate assumptions. An intrinsic feature of the model is bankruptcy, which agents may involuntarily experience in unforeseen states.
|Date of creation:||01 Dec 1995|
|Date of revision:|
|Contact details of provider:|| Postal: |
Fax: +32 10474304
Web page: http://www.uclouvain.be/coreEmail:
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:cor:louvco:1995073. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alain GILLIS)
If references are entirely missing, you can add them using this form.