학술저널
Incomplete Markets with Cone Constraints
Incomplete Markets with Cone Constraints
- 한국계량경제학회
- JOURNAL OF ECONOMIC THEORY AND ECONOMETRICS
- Vol.19 No.2
-
2008.0659 - 76 (18 pages)
- 5
We show the existence of equilibrium in a two-period incomplete financial market with non-ordered preferences where agents are subject to cone portfolio constraints. The main theorem of the paper is built on the consequences of portfolio decomposition provided in Hahn and Won (2007).
Abstract
1. INTRODUCTION
2. MODEL
3. EXISTENCE OF EQUILIBRIUM
4. CONCLUDING REMARKS
REFERENCES
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