Existence of equilibria via quasi-equilibria

Bernard Cornet and Abhishek Ranjan

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Abstract: We consider a 2-date model of a financial exchange economy with finitely many agents having non-ordered preferences and portfolio constraints. There is a market for physical commodities for every state today and tomorrow, and financial transfers across time and states are allowed by means of finitely many nominal or numeraire assets, as in Aouani and Cornet. We prove a general existence result of equilibrium via the existence of quasi-equilibrium, in a financial exchange economy for which portfolios are defined by linear constraints.

Keywords: quasi-equilibrium; financial exchange economy; Restricted participation; Participation contraintes; économie d'échange financière; contraintes sur les portefeuilles; quasi-équilibre; équilibre général; portfolio constraints; equilibrium (search for similar items in EconPapers)
Date: 2013-02
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00801399
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Published in 2013

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Related works:
Working Paper: Existence of equilibria via quasi-equilibria (2013)
Working Paper: Existence of equilibria via quasi-equilibria (2013)
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