Slack in incomplete markets with nominal assets: A symmetric proof |
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Authors: | Michael Florig Moncef Meddeb |
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Affiliation: | CERMSEM, University of Paris 1 Panthéon-Sorbonne, 106-112 bd de l’Hôpital, 75647 Paris Cedex 13, France |
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Abstract: | In this paper, we provide an equilibrium analysis in the framework of incomplete markets where some agents’ preferences are possibly satiated at some state of the nature. We will consider nominal assets with exogenously fixed asset prices. We extend the notion of equilibrium with slack – introduced by Drèze and Müller [Drèze, J., Müller, H., 1980. Optimality properties of rationing schemes. Journal of Economic Theory 23, 150–159] in a fixed price setting – to the GEI framework. |
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Keywords: | C62 D50 |
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