Uniqueness of Competitive Equilibria in the Arrow-Debreu Model
The purpose of this chapter is to give an overview of various conditions on consumers’ characteristics in an Arrow-Debreu economy which imply uniqueness of the equilibrium. Understanding these conditions in the complete markets case of the GEI-model lays the foundations of the results for incomplete markets presented in the next chapter.
KeywordsExcess Demand Relative Risk Aversion Representative Consumer Aggregate Risk Weak Axiom
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