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Existence of financial equilibria in a multi-period stochastic economy.
- Source :
- Advances in Mathematical Economics (9784431308980); 2006, p1-31, 31p
- Publication Year :
- 2006
-
Abstract
- We consider the model of a stochastic financial exchange economy with finitely many periods. Time and uncertainty are represented by a finite event-tree $$ \mathbb{D} $$ and consumers may have constraints on their portfolios. We provide a general existence result of financial equilibria, which allows to cover several important cases of financial structures in the literature with or without constraints on portfolios. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISBNs :
- 9784431308980
- Database :
- Supplemental Index
- Journal :
- Advances in Mathematical Economics (9784431308980)
- Publication Type :
- Book
- Accession number :
- 26350798
- Full Text :
- https://doi.org/10.1007/4-431-30899-71