Existence of pseudo-equilibria in a financial economy |
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| Authors: | Philippe Bich Bernard Cornet |
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| Institution: | 1. Paris School of Economics, Centre d’Economie de la Sorbonne, Université Paris 1 Panthéon Sorbonne, 75647, Paris Cedex 13, France
2. Department of Economics, University of Kansas, Lawrence, KS, 66045, USA
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| Abstract: | We prove the existence of a pseudo-equilibrium in a financial economy with incomplete markets in which the agents may have
nonordered preferences. We use a fixed-point-like theorem of 5] that generalizes the results by Hirsch, Magill and Mas-Colell
18] and Husseini, Lasry and Magill 19] to encompass the framework considered by Gale and Mas-Colell (14], 15]). |
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