Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets
Posted: 29 Jan 2014
There are 2 versions of this paper
Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets
Institute of Mathematical Economics Working Paper No. 443
Number of pages: 19
Posted: 20 Mar 2012
Last Revised: 30 Jan 2013
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Date Written: January 28, 2014
Abstract
We prove that in smooth Markovian continuous-time economies with potentially complete asset markets, Radner equilibria with endogenously complete markets exist.
Keywords: Potentially complete market, Continuous-time financial market, Radner equilibrium, Itô diffusion
Suggested Citation: Suggested Citation
Riedel, Frank and Herzberg, Frederik, Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets (January 28, 2014). Journal of Mathematical Economics, Vol. 49, No. 5, 2013, Available at SSRN: https://ssrn.com/abstract=2386647
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