Abstract
In this paper we consider a sequential trading economy with incomplete financial markets and a finite number of infinitely lived agents. We propose a specification of agents' budget sets and show that such specification features several desirable properties. We then establish the existence of an equilibrium for a regular class of economies. Journal of Economic Literature Classification Numbers: C62, D52, D90.
Original language | English (US) |
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Pages (from-to) | 102-130 |
Number of pages | 29 |
Journal | Journal of Economic Theory |
Volume | 71 |
Issue number | 1 |
DOIs | |
State | Published - Oct 1996 |
Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics