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On the generic existence of fully revealing price equilibria
Authors:Hsueh-Cheng Cheng
Affiliation:University of Southern California, Los Angeles, California 90089, USA
Abstract:In an asset trading model, the generic existence of rational expectations equilibrium established by Radner requires an assumption which is not shown to be generic. A regularity condition is imposed on the relative risk aversion of the utility function to eliminate the assumption.
Keywords:
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