Classical overlapping generations models with incomplete markets. (Q2761428)
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scientific article; zbMATH DE number 1683536
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Classical overlapping generations models with incomplete markets. |
scientific article; zbMATH DE number 1683536 |
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2001
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incomplete markets
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equilibria
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overlapping generations models
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Classical overlapping generations models with incomplete markets. (English)
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A classical overlapping generations exchange economy with incomplete markets, one-period assets and bounded short sales is considered in the paper. The stochastic structure of the model is given by an infinite event-tree with unique initial node at date 0 and a continuum of branches at each node of the tree. It is assumed that the set of states branching at every node is \(S=[0,1]\) endowed with the Borel \(\sigma\) algebra of subsets, and on \(S\) the common probability measure at date \(n\) is the usual Lebesgue measure. Conditions for the existence of equilibria for such a model are derived by the authors.NEWLINENEWLINEFor the entire collection see [Zbl 0970.00036].
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