On the generic existence of fully revealing price equilibria |
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Authors: | Hsueh-Cheng Cheng |
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Affiliation: | University of Southern California, Los Angeles, California 90089, USA |
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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. |
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