When Borch's Theorem Does Not Apply: Some Key Implications of Market Incompleteness, with Policy Relevance Today

DOI10.1111/sjoe.12162zbMath1397.91218OpenAlexW1943636129MaRDI QIDQ4683590

Jacques H. Drèze

Publication date: 21 September 2018

Published in: The Scandinavian Journal of Economics (Search for Journal in Brave)

Full work available at URL: http://uclouvain.be/cps/ucl/doc/core/documents/coredp2013_9.pdf

zbMATH Keywords

multiple equilibriatemporary equilibriumconstrained efficiencyprice rigiditiescoordination failures

Mathematics Subject Classification ID

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

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