Incomplete markets, continuum of states and default

A. Araujo; P. K. Monteiro; M. R. Páscoa

doi:10.1007/s001990050185

Incomplete markets, continuum of states and default

A. Araujo, P. K. Monteiro, M. R. Páscoa

NOVA School of Business and Economics (NOVA SBE)

Research output: Contribution to journal › Article

17 Citations (Scopus)

Abstract

We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

Original language	English
Pages (from-to)	205-213
Number of pages	9
Journal	Economic Theory
Volume	11
Issue number	1
DOIs	https://doi.org/10.1007/s001990050185
Publication status	Published - 1 Dec 1998

Access to Document

10.1007/s001990050185

Link to publication in Scopus

Fingerprint Dive into the research topics of 'Incomplete markets, continuum of states and default'. Together they form a unique fingerprint.

Cite this

@article{d3c2195409ec40f589be560675cc19eb,

title = "Incomplete markets, continuum of states and default",

abstract = "We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.",

author = "A. Araujo and Monteiro, {P. K.} and P{\'a}scoa, {M. R.}",

year = "1998",

month = dec,

day = "1",

doi = "10.1007/s001990050185",

language = "English",

volume = "11",

pages = "205--213",

journal = "Economic Theory",

issn = "0938-2259",

publisher = "Springer Science Business Media",

number = "1",

}

TY - JOUR

T1 - Incomplete markets, continuum of states and default

AU - Araujo, A.

AU - Monteiro, P. K.

AU - Páscoa, M. R.

PY - 1998/12/1

Y1 - 1998/12/1

N2 - We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

AB - We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

UR - http://www.scopus.com/inward/record.url?scp=0032221356&partnerID=8YFLogxK

U2 - 10.1007/s001990050185

DO - 10.1007/s001990050185

M3 - Article

AN - SCOPUS:0032221356

VL - 11

SP - 205

EP - 213

JO - Economic Theory

JF - Economic Theory

SN - 0938-2259

IS - 1

ER -