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Existence of equilibrium on asset markets with a countably infinite number of states
Affiliation:1. EPEE, University of Evry-val-d’Essonne, France;2. IPAG Business School, CNRS, Paris School of Economics, VCREME, TIMAS, France;1. European University in St. Petersburg, 3 Gagarinskaya Street, St. Petersburg, 191187, Russia;2. St. Petersburg Institute for Economics and Mathematics (Russian Academy of Sciences), 1 Tchaikovsky Street, St. Petersburg, 191187, Russia;3. Department of Economics and Finance, Montclair State University, Montclair, NJ 07043, USA;1. Faculty of Business Administration, Memorial University, Canada;2. School of Business and IQSCS, University of Leicester, UK;1. Department of Economics, University of Toronto, Canada;2. Department of Economics, University of Pennsylvania, United States;1. LEDa, Université Paris-Dauphine, P.S.L. Research University, France;2. LEMMA, Université Paris 2 Panthéon-Assas, France
Abstract:
Keywords:Beliefs strong equivalence  Asset market equilibrium  Individually rational attainable allocations  Individually rational utility set  No-arbitrage prices  No-arbitrage condition
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