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Título
Endogenous differential information
Autor(es)
Materia
Endogenous differential information
Restricted participation
Rational expectations equilibrium
Incomplete markets
Clasificación UNESCO
5302 Econometría
5311.06 Estudio de Mercado
Fecha de publicación
2015
Citación
ACea-Echenique, S., Hervés-Beloso, C. & Torres-Martínez, J.P. Endogenous differential information. Econ Theory 63, 51–72 (2017). https://doi.org/10.1007/s00199-015-0924-5
Resumen
[ES] We include endogenous differential information in a model with sequential trade and incomplete financial participation. Agents update information through market signals given by commodity prices and asset deliveries. Information acts over admissible strategies and consumption tastes, allowing discontinuities in preferences and choice sets. Therefore, equilibrium may cease to exist. However, internalizing the compatibility between information and consumption through preferences, and without requiring either financial survival assumptions or fully revealing prices, equilibrium existence can be ensured.
URI
ISSN
0938-2259
DOI
10.1007/s00199-015-0924-5
Versión del editor
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