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dc.contributor.authorRiedel, Frank
dc.contributor.authorDana, Rose-Anne
dc.date.accessioned2011-01-04T16:32:16Z
dc.date.available2011-01-04T16:32:16Z
dc.date.issued2010
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/5375
dc.language.isoenen
dc.subjectNo Tradeen
dc.subjectGeneral Equilibrium Theoryen
dc.subjectIncomplete Preferencesen
dc.subjectAmbiguityen
dc.subjectKnightian Uncertaintyen
dc.subject.ddc519en
dc.subject.classificationjelD91en
dc.subject.classificationjelD81en
dc.subject.classificationjelD51en
dc.titleIntertemporal Equilibria with Knightian Uncertaintyen
dc.typeCommunication / Conférence
dc.description.abstractenWe study a dynamic and in nite{dimensional model with Knightian uncertainty modeled by incomplete multiple prior preferences. In in- terior e cient allocations, agents share a common risk{adjusted prior and use the same subjective interest rate. Interior e cient alloca- tions and equilibria coincide with those of economies with subjective expected utility and priors from the agents' multiple prior sets. We show that the set of equilibria with inertia contains the equilibria of the economy with variational preferences anchored at the initial endowments. A case study in an economy without aggregate uncer- tainty shows that risk is fully insured, while uncertainty can remain fully uninsured. Pessimistic agents with Gilboa{Schmeidler's max-min preferences would fully insure risk and uncertainty.en
dc.identifier.citationpages30en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelProbabilités et mathématiques appliquéesen
dc.relation.conftitleXIXth European Workshop on General Equilibrium Theory (EWGET 2010)
dc.relation.confdate2010-06
dc.relation.confcityCracovie
dc.relation.confcountryPologne


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