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Risk sharing and retrading in incomplete markets created by Piero Gottardi and Rohit Rahi

By: Contributor(s): Material type: TextTextSeries: Economic theory ; Volume 53, number 2Berlin: Springer, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 09382259
Subject(s): LOC classification:
  • HB119 ECO
Online resources: Abstract: At a competitive equilibrium of an incomplete-markets economy agents’ marginal valuations for the tradable assets are equalized ex-ante. We characterize the finest partition of the state space conditional on which this equality holds for any economy. This leads naturally to a necessary and sufficient condition on information that would induce agents to retrade, if such information was to become publicly available after the initial round of trade.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB119 ECO (Browse shelf(Opens below)) vol. 54, no. 2 (pages 287-304) SP21039 Not for loan For In house Use
Journal Article Journal Article Main Library - Special Collections HB119 ECO (Browse shelf(Opens below)) Vol. 54, no.2 (pages 287-304) SP21287 Not for loan For In house Use

At a competitive equilibrium of an incomplete-markets economy agents’ marginal valuations for the tradable assets are equalized ex-ante. We characterize the finest partition of the state space conditional on which this equality holds for any economy. This leads naturally to a necessary and sufficient condition on information that would induce agents to retrade, if such information was to become publicly available after the initial round of trade.

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