Incomplete financial markets and differential information

Marta Cristina Vieira Faias Mateus

doi:10.1007/s00199-008-0429-6

Incomplete financial markets and differential information

Marta Cristina Vieira Faias Mateus

DM - Departamento de Matemática

Research output: Contribution to journal › Article

2 Citations (Scopus)

Abstract

We provide a model of an incomplete markets economy where private restrictions on consumption are interpreted as lack of information. We prove existence of an equilibrium where agents are unable to infer any additional information from prices. When assets are nominal, these non-enlightening equilibrium prices result in a reduction of the degree of real indeterminacy.

Original language	Unknown
Pages (from-to)	189-206
Journal	Economic Theory
Volume	43
Issue number	2
DOIs	https://doi.org/10.1007/s00199-008-0429-6
Publication status	Published - 1 Jan 2010

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10.1007/s00199-008-0429-6

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Mateus, M. C. V. F. (2010). Incomplete financial markets and differential information. Economic Theory, 43(2), 189-206. https://doi.org/10.1007/s00199-008-0429-6

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