Hens, Thorsten (2001). An Extension of Mantel (1976) to Incomplete Markets. Working paper series / Institute for Empirical Research in Economics No. 71, University of Zurich.
In the incomplete markets model with numeraire asset and a single consumption good we show that, even with homothetic preferences, on compact sets of prices Continuity, Walras' identity and Homogeneity characterize the properties of market excess demand. This result is proved by an extension of Mantel (1976) to the case of incomplete markets.
In the incomplete markets model with numeraire asset and a single consumption good we show that, even with homothetic preferences, on compact sets of prices Continuity, Walras' identity and Homogeneity characterize the properties of market excess demand. This result is proved by an extension of Mantel (1976) to the case of incomplete markets.
| Item Type: | Working Paper |
|---|---|
| Communities & Collections: | 03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former) |
| Dewey Decimal Classification: | 330 Economics |
| Language: | English |
| Date: | January 2001 |
| Deposited On: | 29 Nov 2011 21:26 |
| Last Modified: | 18 Mar 2022 09:38 |
| Series Name: | Working paper series / Institute for Empirical Research in Economics |
| ISSN: | 1424-0459 |
| OA Status: | Green |
| Official URL: | http://www.econ.uzh.ch/wp.html |
Hens, Thorsten