Abstract
To some two-period economies with countable infinite state spaces, the existence of expectation equilibrium of real asset economies with transaction costs is given. This work extends the researches of Zame in 1993.
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This research is supported by the item of National Science Foundation “Financial Math. Financial Engineering & Financial Management” (79790130).
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Erwan, M. Existence of expectation equilibrium of real asset economies with transaction costs. Appl. Math. Chin. Univ. 14, 461–466 (1999). https://doi.org/10.1007/s11766-999-0076-0
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DOI: https://doi.org/10.1007/s11766-999-0076-0