Generic non-existence of general equilibrium with EUU preferences under extreme ambiguity

• Tipo: Artigo em Revista Científica Internacional
• Data: 2015

Autores

João Correia-da-Silva (Autor) FEP

Revista

Título: Journal of Mathematical Economics

Vol. 61

Páginas: 185-191

ISSN: 0304-4068

Editora: Elsevier

Indexação

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Outras Informações

ID Authenticus: P-00J-Z9B

DOI: 10.1016/j.jmateco.2015.09.007

Abstract (EN): In the presence of three or more realisations of the aggregate endowment that are extremely ambiguous, in the sense that all relative probabilities are admissible, if agents have preferences that are representable by expected uncertain utility functions (Gul and Pesendorfer, 2014), general equilibrium does not generically exist in finite economies. It always exists, however, in continuum economies. © 2015 Elsevier B.V.

Idioma: Inglês

Tipo (Avaliação Docente): Científica