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Sonderforschungsbereich 373: Quantification and Simulation of Economic Processes, Humboldt-Universität Berlin >
Discussion Papers, SFB 373, HU Berlin >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/62256
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Bank, Peter | | en_US |
| dc.contributor.author | | Riedel, Frank | | en_US |
| dc.date.accessioned | | 2012-09-07T15:41:00Z | | - |
| dc.date.available | | 2012-09-07T15:41:00Z | | - |
| dc.date.issued | | 2000 | | en_US |
| dc.identifier.pi | | urn:nbn:de:kobv:11-10048304 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/62256 | | - |
| dc.description.abstract | | We prove existence of an Arrow-Debreu equilibrium when agents' preferences exhibit local substitution in the sense of Hindy, Huang, and Kreps (1992). Efficient allocations and supporting price functionals are identified and characterized. Under Hindy Huang Kreps preferences, equilibrium price processes are semimartingales for arbitrary endowments, but in general, they do not belong to the space suggested originally by Hindy and Huang (1992) due to an additional singular local time component. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Humboldt-Universität Berlin | | en_US |
| dc.relation.ispartofseries | | Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes 2000,104 | | en_US |
| dc.subject.jel | | D51 | | en_US |
| dc.subject.jel | | D91 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | General Equilibrium | | en_US |
| dc.subject.keyword | | Local Substitution | | en_US |
| dc.subject.keyword | | Non Time Additive Utility | | en_US |
| dc.title | | Existence and structure of stochastic equilibria with intertemporal substitution | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 723879966 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Discussion Papers, SFB 373, HU Berlin
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