Necessary and Sufficient Condition for the Existence of Equilibrium in Finite Dimensional Asset Markets with Short-Selling and Preferences with Half-Lines - Archive ouverte HAL Accéder directement au contenu
Pré-Publication, Document De Travail Année : 2021

Necessary and Sufficient Condition for the Existence of Equilibrium in Finite Dimensional Asset Markets with Short-Selling and Preferences with Half-Lines

Thai Ha-Huy
Cuong Le Van
Myrna Wooders
  • Fonction : Auteur
  • PersonId : 936648

Résumé

We consider a pure exchange asset model with a finite number of agents and a finite number of states of nature where short sells are allowed. We present the definition of weak no-arbitrage price, a weaker notion of noarbitrage price than the one of Werner, and prove that if the utility functions satisfy the maximal and closed gradients conditions we propose in this paper, then there exists an equivalence between existence of a general equilibrium and existence of a price which is weak no-arbitrage price for all the agents.
Fichier principal
Vignette du fichier
Arbitrage and equilibrium.pdf (302.82 Ko) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)

Dates et versions

hal-04131008 , version 1 (16-06-2023)

Identifiants

  • HAL Id : hal-04131008 , version 1

Citer

Thai Ha-Huy, Cuong Le Van, Myrna Wooders. Necessary and Sufficient Condition for the Existence of Equilibrium in Finite Dimensional Asset Markets with Short-Selling and Preferences with Half-Lines. 2023. ⟨hal-04131008⟩
47 Consultations
28 Téléchargements

Partager

Gmail Facebook X LinkedIn More