Uniqueness of Competitive Equilibria in the Arrow-Debreu Model

  • Thorsten Hens
  • Beate Pilgrim
Part of the Theory and Decision Library book series (TDLC, volume 33)


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.


Excess Demand Relative Risk Aversion Representative Consumer Aggregate Risk Weak Axiom 
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Copyright information

© Springer Science+Business Media Dordrecht 2002

Authors and Affiliations

  • Thorsten Hens
    • 1
    • 2
  • Beate Pilgrim
    • 3
  1. 1.University of ZurichSwitzerland
  2. 2.Norwegian Business SchoolNorway
  3. 3.Reuters AGFrankfurtGermany

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