Disaggregation of excess demand functions in incomplete markets 1 The authors wish to thank Andreu M

Content Provider	Semantic Scholar
Author	Chiappori, Pierre-André Ekeland, Ivar
Copyright Year	1999
Abstract	We are interested in general equilibrium incomplete markets, where the number of consumers is N, the number of goods is L, and the dimension of the space of admissible trades is K (the case of complete markets being then K=(L−1)). We prove that, if N≥K, any non-vanishing analytic function satisfying the natural extension of the Walras law is, locally at least, the excess demand function of such a market.
File Format	PDF HTM / HTML
DOI	10.1016/S0304-4068(98)00059-7
Alternate Webpage(s)	https://www.ceremade.dauphine.fr/~ekeland/Articles/JME-PAC-IncompleteMarkets.pdf
Alternate Webpage(s)	https://doi.org/10.1016/S0304-4068%2898%2900059-7
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article