Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62256
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dc.contributor.authorBank, Peteren_US
dc.contributor.authorRiedel, Franken_US
dc.date.accessioned2012-09-07T15:41:00Z-
dc.date.available2012-09-07T15:41:00Z-
dc.date.issued2000en_US
dc.identifier.piurn:nbn:de:kobv:11-10048304en_US
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_US
dc.language.isoengen_US
dc.publisher|aHumboldt-Universität |cBerlinen_US
dc.relation.ispartofseries|aDiscussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes |x2000,104en_US
dc.subject.jelD51en_US
dc.subject.jelD91en_US
dc.subject.ddc330en_US
dc.subject.keywordGeneral Equilibriumen_US
dc.subject.keywordLocal Substitutionen_US
dc.subject.keywordNon Time Additive Utilityen_US
dc.titleExistence and structure of stochastic equilibria with intertemporal substitutionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn723879966en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:sfb373:2000104-

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