Journal of Economic Theory and Econometrics: Journal of the Korean Econometric Society
Home

About this journal
   Aims and scope

   Editorial board

Submit your article

Archive

Search

Journal of Economic Theory and Econometrics
JETEM/계량경제학보/計量經濟學報/JKES
Journal of the Korean Econometric Society

A Note on Equilibrium in Constrained Incomplete Markets with Non-Ordered Preferences

Vol.22, No.1, March , 58–72



  •   (Division of Humanities and Social Sciences, POSTECH)

  •   (College of Business Administration, Ajou University)

PDF
Abstract  

We prove the existence of Radner equilibrium of plans, price and price expectations in incomplete markets with non-ordered preferences which are subject to portfolio constraints. In particular, the paper extends the results of Werner (1989) to constrained incomplete markets by providing a unifying framework for a variety of restrictions on the risk-sharing role of redundant assets.


Keywords
   Radner equilibrium, Portfolio constraints, Redundant assets, Incomplete markets, Arbitrage, Non-ordered preferences

JEL classification codes
   C62, D51
Links

KCI list
Korean ES
JETEM at SCOPUS

Powered by MathJax