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dc.contributor.authorDaher, Wassim
dc.contributor.authorMartins-da-Rocha, Victor-Filipe
dc.contributor.authorVailakis, Yiannis
dc.date.accessioned2010-01-15T14:17:45Z
dc.date.available2010-01-15T14:17:45Z
dc.date.issued2007
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/2967
dc.description.abstractfrNous généralisons le modèle de marché d'actifs étudié par Cheng (1991), Dana et Le Van (1996) et Le Van et Truong Xuan (2001) en introduisant l'asymétrie d'information. En imposant une hypothèse d'indépendance conditionnelle sur la structure d'information, nous démontrons qu'un équilibre existe.en
dc.language.isoenen
dc.subjectCompetitive Equilibriumen
dc.subjectDifferential Informationen
dc.subjectAsset Marketen
dc.subjectEquilibre concurrentielen
dc.subjectInformation asymétriqueen
dc.subjectMarché d'actifsen
dc.subject.ddc332en
dc.subject.classificationjelC61en
dc.subject.classificationjelC62en
dc.subject.classificationjelD51en
dc.titleAsset market equilibrium with short-selling and differential informationen
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherUniversité Paris 1;France
dc.description.abstractenWe introduce differential information in the asset market model studied by Cheng (1991), Dana and Le Van (1996) and Le Van and Truong Xuan (2001). An equilibrium existence result is proven assuming that the economy's information structure satisfies the conditional independency property. If private information is not publicly verifiable, agents have incentives to misreport their types and therefore contracts may not be executed in the second period. We also show that under the conditional independence property equilibrium contracts are always executable.en
dc.relation.isversionofjnlnameEconomic Theory
dc.relation.isversionofjnlvol32
dc.relation.isversionofjnlissue3
dc.relation.isversionofjnldate2007-09
dc.relation.isversionofjnlpages425-446
dc.relation.isversionofdoihttp://dx.doi.org/10.1007/s00199-006-0131-5
dc.identifier.urlsitehttp://halshs.archives-ouvertes.fr/halshs-00173787/fr/en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherSpringer
dc.subject.ddclabelEconomie financièreen


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