Indivisibilities, lotteries, and sunspot equilibria

DOI10.1007/BF01213688zbMath0808.90027MaRDI QIDQ1338997

Randall Wright, Karl Shell

Publication date: 27 November 1994

Published in: Economic Theory (Search for Journal in Brave)

zbMATH Keywords

competitive equilibriaindivisible commoditiessocially optimal employment lotteriessunspot equilibrium theory

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items (19)

When sunspots don't matter ⋮ Correlated equilibrium and sunspot equilibrium ⋮ Existence of sunspot equilibrium and absence of non-sunspot equilibria in a financial economy ⋮ Valuation equilibrium with clubs ⋮ A search-theoretic model of double-spending fraud ⋮ Do sunspots matter when agents are Choquet-expected-utility maximizers? ⋮ Indeterminacy and directed search. ⋮ Futures market: contractual arrangement to restrain moral hazard in teams ⋮ Aggregation in economies with search frictions ⋮ General equilibrium with nonconvexities and money ⋮ Competitive equilibria in economies with multiple indivisible and multiple divisible commodities ⋮ OPTIMAL DYNAMIC LABOR TAXATION ⋮ Price level volatility: A simple model of money taxes and sunspots ⋮ Competitive equilibria with asymmetric information ⋮ Existence and welfare properties of equilibrium in an exchange economy with multiple divisible and indivisible commodities and linear production technologies ⋮ Introduction to sunspots and lotteries ⋮ Equilibrium prices when the sunspot variable is continuous. ⋮ Lotteries, sunspots, and incentive constraints ⋮ Indivisibilities, lotteries, and monetary exchange

Cites Work

• Self-fulfilling prophecies
• Convexity and sunspots: A remark
• Core and competitive equilibria with indivisibilities
• Stationary sunspot equilibria in a finance constrained economy
• Fair division with indivisible commodities
• Indivisible commodities and general equilibrium theory
• On cores and indivisibility
• Existence of sunspot equilibrium and absence of non-sunspot equilibria in a financial economy
• Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard
• Large Indivisibles: An Analysis with Respect to Price Equilibrium and Fairness
• General Competitive Analysis in an Economy with Private Information
• Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies
• A Note on Price Systems in Infinite Dimensional Space
• Markets with a Continuum of Traders
• Existence of Competitive Equilibria in Markets with a Continuum of Traders
• Indivisibilites dans une Economie d'Echanges
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