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Existence of financial equilibria in a multi-period stochastic economy

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Advances in Mathematical Economics

Part of the book series: Advances in Mathematical Economics ((MATHECON,volume 8))

Abstract

We consider the model of a stochastic financial exchange economy with finitely many periods. Time and uncertainty are represented by a finite event-tree \( \mathbb{D} \) and consumers may have constraints on their portfolios. We provide a general existence result of financial equilibria, which allows to cover several important cases of financial structures in the literature with or without constraints on portfolios.

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Author information

Authors and Affiliations

  1. Dipartimento di Matematica e Informatica, Università degli Studi di Perugia, Via Vanvitelli 1, 06123, Perugia, Italy

    Laura Angeloni

  2. Department of Economics, University of Kansas, Lawrence, Kansas, 66045-7585, USA

    Bernard Cornet

Authors
  1. Laura Angeloni
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  2. Bernard Cornet
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Editor information

Editors and Affiliations

  1. Graduate School of Mathematical Sciences, University of Tokyo, 3-8-1 Komaba, Meguro-ku, Tokyo, 153-0041, Japan

    Shigeo Kusuoka (Professor) (Professor)

  2. Graduate Faculty of Economics, Hitotsubashi University, Kunitachi, Tokyo, 186-8601, Japan

    Akira Yamazaki (Professor) (Professor)

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© 2006 Springer-Verlag

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Angeloni, L., Cornet, B. (2006). Existence of financial equilibria in a multi-period stochastic economy. In: Kusuoka, S., Yamazaki, A. (eds) Advances in Mathematical Economics. Advances in Mathematical Economics, vol 8. Springer, Tokyo. https://doi.org/10.1007/4-431-30899-7_1

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