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dc.contributor.authorBank, Peteren
dc.contributor.authorRiedel, Franken
dc.date.accessioned2012-09-07T15:41:00Z-
dc.date.available2012-09-07T15:41:00Z-
dc.date.issued2000-
dc.identifier.piurn:nbn:de:kobv:11-10048304en
dc.identifier.urihttp://hdl.handle.net/10419/62256-
dc.description.abstractWe 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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes |cBerlinen
dc.relation.ispartofseries|aSFB 373 Discussion Paper |x2000,104en
dc.subject.jelD51en
dc.subject.jelD91en
dc.subject.ddc330en
dc.subject.keywordGeneral Equilibriumen
dc.subject.keywordLocal Substitutionen
dc.subject.keywordNon Time Additive Utilityen
dc.titleExistence and structure of stochastic equilibria with intertemporal substitution-
dc.typeWorking Paperen
dc.identifier.ppn723879966en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:sfb373:2000104en

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