Incomplete Markets

ISBN-13: 9781845428624 / Angielski / Twarda / 2008 / 1176 str.

Michael J.P. Magill;Martine Quinzii

Opis

This two-volume set offers an extraordinary precis of classic articles on the general equilibrium theory of incomplete markets. The first volume presents the contributions to the theory of incomplete markets over a finite horizon. Many of the papers focus on two-period economies. This setting provides the simplest version of the incomplete-market model. However, the study of incomplete markets has evolved from finite to infinite horizon economies. The second volume examines the interesting new technical and conceptual issues that arise from the exploration of incomplete market economies over an open-ended future.