Add to ORKGWe consider economies with additively separable utility functions and give conditions for the two-agents case under which the existence of sunspot equilibria is equivalent to the occurrence of the transfer paradox. This equivalence enables us to show that sunspots cannot matter if the initial economy has a unique spot market equilibrium and there are only two commodities or if the economy has a unique equilibrium for all distributions of endowments induced by asset trade. For more than two agents the equivalence breaks and we give an example for sunspot equilibria even though the economy has a unique equilibrium for all distributions of endowments induced by asset trade
In a two-period, sunspot, pure-exchange economy we analyse the case in which agents do not assign su...
In a two-period, sunspot, pure-exchange economy we analyze the case in which agents do not assign su...
Since the 1980\u27s research of the model of incomplete financial markets has been a major issue in ...
We consider economies with additively separable utility functions and give conditions for the two-ag...
We consider economies with additively separable utility functions and give conditions for the two-ag...
We show that for international economies with two countries, in which agents have additively separab...
This paper examines the structure of sunspot equilibria in a standard two period exchange economy wi...
We show by an example that the sunspot equilibria of a competitive economy are not equivalent to the...
We consider two periods economies with both intrinsic and extrinsic uncertainty. Asset markets are i...
We analyze economies with indivisible commodities. There are two reasons for doing so. First, we ext...
Sunspot equilibrium and lottery equilibrium are two stochastic solution concepts for nonstochastic e...
This paper tests the effect of a matching mechanism on donations in a controlled fieldnexperiment. W...
This paper proves that a multiplicity of certainty equilibria is not necessary for the existence of ...
We investigate the structure of competitive equilibria in an exchange economy parametrized by (i) en...
Mas-Colell (1992) conjectured that there could be no sunspot equilibria if the fun damentals of the ...
In a two-period, sunspot, pure-exchange economy we analyse the case in which agents do not assign su...
In a two-period, sunspot, pure-exchange economy we analyze the case in which agents do not assign su...
Since the 1980\u27s research of the model of incomplete financial markets has been a major issue in ...
We consider economies with additively separable utility functions and give conditions for the two-ag...
We consider economies with additively separable utility functions and give conditions for the two-ag...
We show that for international economies with two countries, in which agents have additively separab...
This paper examines the structure of sunspot equilibria in a standard two period exchange economy wi...
We show by an example that the sunspot equilibria of a competitive economy are not equivalent to the...
We consider two periods economies with both intrinsic and extrinsic uncertainty. Asset markets are i...
We analyze economies with indivisible commodities. There are two reasons for doing so. First, we ext...
Sunspot equilibrium and lottery equilibrium are two stochastic solution concepts for nonstochastic e...
This paper tests the effect of a matching mechanism on donations in a controlled fieldnexperiment. W...
This paper proves that a multiplicity of certainty equilibria is not necessary for the existence of ...
We investigate the structure of competitive equilibria in an exchange economy parametrized by (i) en...
Mas-Colell (1992) conjectured that there could be no sunspot equilibria if the fun damentals of the ...
In a two-period, sunspot, pure-exchange economy we analyse the case in which agents do not assign su...
In a two-period, sunspot, pure-exchange economy we analyze the case in which agents do not assign su...
Since the 1980\u27s research of the model of incomplete financial markets has been a major issue in ...