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An Introduction to General Equilibrium with Incomplete Asset Markets

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Abstract

I survey the major results in the theory of general equilibrium with incomplete asset markets. I also introduce the papers in this volume and offer a few suggestions for further work.

Suggested Citation

  • John Geanakoplos, 1989. "An Introduction to General Equilibrium with Incomplete Asset Markets," Cowles Foundation Discussion Papers 919, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:919
    Note: CFP 750.
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    References listed on IDEAS

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    1. John Geanakoplos & Pradeep Dubey, 1989. "Existence of Walras Equilibrium Without a Price Player of Generalized Game," Cowles Foundation Discussion Papers 912, Cowles Foundation for Research in Economics, Yale University.
    2. Debreu, Gerard, 1976. "Smooth Preferences: A Corrigendum," Econometrica, Econometric Society, vol. 44(4), pages 831-832, July.
    3. Franklin Allen, Douglas Gale, 1988. "Optimal Security Design," The Review of Financial Studies, Society for Financial Studies, vol. 1(3), pages 229-263.
    4. John Geanakoplos & Pradeep Dubey, 1989. "Liquidity and Bankruptcy with Incomplete Markets: Pure Exchange," Cowles Foundation Discussion Papers 900, Cowles Foundation for Research in Economics, Yale University.
    5. Jacques H. Drèze, 1974. "Investment Under Private Ownership: Optimality, Equilibrium and Stability," International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 9, pages 129-166, Palgrave Macmillan.
    6. Jacques H. Drèze (ed.), 1974. "Allocation under Uncertainty: Equilibrium and Optimality," International Economic Association Series, Palgrave Macmillan, number 978-1-349-01989-2, November.
    7. Duffie, Darrell & Shafer, Wayne, 1986. "Equilibrium in incomplete markets: II : Generic existence in stochastic economies," Journal of Mathematical Economics, Elsevier, vol. 15(3), pages 199-216, June.
    8. Pradeep Dubey & John Geanakoplos & Martin Shubik, 1988. "Default and Efficiency in a General Equilibrium Model with Incomplete Markets," Cowles Foundation Discussion Papers 879R, Cowles Foundation for Research in Economics, Yale University, revised Feb 1989.
    9. Duffie, Darrell, 1987. "Stochastic equilibria with incomplete financial markets," Journal of Economic Theory, Elsevier, vol. 41(2), pages 405-416, April.
    10. Debreu, Gerard, 1972. "Smooth Preferences," Econometrica, Econometric Society, vol. 40(4), pages 603-615, July.
    11. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
    12. Chae, Suchan, 1988. "Existence of competitive equilibrium with incomplete markets," Journal of Economic Theory, Elsevier, vol. 44(1), pages 179-188, February.
    13. DeMarzo, Peter M., 1988. "An extension of the Modigliani-Miller theorem to stochastic economies with incomplete markets and interdependent securities," Journal of Economic Theory, Elsevier, vol. 45(2), pages 353-369, August.
    14. Steinar Ekern & Robert Wilson, 1974. "On the Theory of the Firm in an Economy with Incomplete Markets," Bell Journal of Economics, The RAND Corporation, vol. 5(1), pages 171-180, Spring.
    15. Peter Diamond, 1980. "Efficiency with Uncertain Supply," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(4), pages 645-651.
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    Cited by:

    1. Frank Hahn, 1992. "Distinguished Fellow: Honoring Roy Radner," Journal of Economic Perspectives, American Economic Association, vol. 6(1), pages 181-194, Winter.

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