| dc.contributor.author | Riedel, Frank | |
| dc.contributor.author | Dana, Rose-Anne | |
| dc.date.accessioned | 2011-01-04T16:32:16Z | |
| dc.date.available | 2011-01-04T16:32:16Z | |
| dc.date.issued | 2010 | |
| dc.identifier.uri | https://basepub.dauphine.fr/handle/123456789/5375 | |
| dc.language.iso | en | en |
| dc.subject | No Trade | en |
| dc.subject | General Equilibrium Theory | en |
| dc.subject | Incomplete Preferences | en |
| dc.subject | Ambiguity | en |
| dc.subject | Knightian Uncertainty | en |
| dc.subject.ddc | 519 | en |
| dc.subject.classificationjel | D91 | en |
| dc.subject.classificationjel | D81 | en |
| dc.subject.classificationjel | D51 | en |
| dc.title | Intertemporal Equilibria with Knightian Uncertainty | en |
| dc.type | Communication / Conférence | |
| dc.description.abstracten | We 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.citationpages | 30 | en |
| dc.description.sponsorshipprivate | oui | en |
| dc.subject.ddclabel | Probabilités et mathématiques appliquées | en |
| dc.relation.conftitle | XIXth European Workshop
on General Equilibrium Theory (EWGET 2010) | |
| dc.relation.confdate | 2010-06 | |
| dc.relation.confcity | Cracovie | |
| dc.relation.confcountry | Pologne | |
