Equilibrium prices when the sunspot variable is continuous.

DOI10.1006/jeth.1999.2634zbMath1035.91024OpenAlexW2138185854MaRDI QIDQ1867540

Rod Garratt, Karl Shell, Todd Keister, Cheng-Zhong Qin

Publication date: 2 April 2003

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

Full work available at URL: https://semanticscholar.org/paper/4ce895ec375d5db80618ba3bd8ecbc44f535526b

zbMATH Keywords

sunspotnonconvex economiesprobability-adjusted prices

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

Related Items (6)

Aggregation in economies with search frictions ⋮ General equilibrium with nonconvexities and money ⋮ Competitive equilibria with asymmetric information ⋮ Introduction to sunspots and lotteries ⋮ Lotteries, sunspots, and incentive constraints ⋮ A characterization of robust sunspot equilibria

Cites Work

• Extrinsic uncertainty revisited
• Speculation and price fluctuations with private, extrinsic signals
• Convexity and sunspots: Another remark
• Indivisibilities, lotteries, and sunspot equilibria
• Robustness of sunspot equilibria
• Decentralizing lottery allocations in markets with indivisible commodities
• Lotteries, sunspots, and incentive constraints
• When sunspots don't matter
• Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard
• Exchange Rate Volatility in an Equilibrium Asset Pricing Model
• General Competitive Analysis in an Economy with Private Information
• Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies

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