We study an economy with numeraire assets. There are finitely many states of private information and (possibly) incomplete financial markets. We show that, for an open and dense subset (of full Lebesgue measure) of the space of endowments, all rational expectations equilibria are fully revealing. (C) 1998 Elsevier Science S.A.
Pietra, T., Siconolfi, P. (1998). Fully revealing equilibria in sequential economies with asset markets. JOURNAL OF MATHEMATICAL ECONOMICS, 29(2), 211-223 [10.1016/S0304-4068(97)00808-2].
Fully revealing equilibria in sequential economies with asset markets
Pietra T.Co-primo
;
1998
Abstract
We study an economy with numeraire assets. There are finitely many states of private information and (possibly) incomplete financial markets. We show that, for an open and dense subset (of full Lebesgue measure) of the space of endowments, all rational expectations equilibria are fully revealing. (C) 1998 Elsevier Science S.A.File in questo prodotto:
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