Numeraire Assets

  • Antonio Villanacci
  • Laura Carosi
  • Pierluigi Benevieri
  • Andrea Battinelli
Chapter

Abstract

In this chapter, we describe the main results about the model with incomplete financial markets and numeraire assets. That model has been analyzed by [61] and it is the closest one to the exchange economy one in terms of basic results: both existence and generic regularity hold true. Therefore, it is the easiest to be studied and the most appropriate to start the analysis on incomplete markets.

Keywords

Budget Constraint General Equilibrium Full Rank Commodity Price Incomplete Market 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 2002

Authors and Affiliations

  • Antonio Villanacci
    • 1
  • Laura Carosi
    • 2
  • Pierluigi Benevieri
    • 1
  • Andrea Battinelli
    • 3
  1. 1.Università degli Studi di FirenzeItaly
  2. 2.Università degli Studi di PisaItaly
  3. 3.Università degli Studi di SienaItaly

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