Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets

19 Pages Posted: 20 Mar 2012 Last revised: 30 Jan 2013

See all articles by Frank Riedel

Frank Riedel

Bielefeld University - Center for Mathematical Economics

Frederik Herzberg

Bielefeld University - Center for Mathematical Economics

Multiple version iconThere are 2 versions of this paper

Date Written: January 20, 2013

Abstract

We prove that in smooth Markovian continuous-time economies with potentially complete asset markets, Radner equilibria with endogenously complete markets exist.

Keywords: Potentially complete market, Continuous-time financial market, Radner equilibrium, Itô diffusion, Analytic transition density

JEL Classification: D52, D53, G12

Suggested Citation

Riedel, Frank and Herzberg, Frederik, Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets (January 20, 2013). Institute of Mathematical Economics Working Paper No. 443, Available at SSRN: https://ssrn.com/abstract=2026186 or http://dx.doi.org/10.2139/ssrn.2026186

Frank Riedel (Contact Author)

Bielefeld University - Center for Mathematical Economics ( email )

Postfach 10 01 31
Bielefeld, D-33501
Germany

Frederik Herzberg

Bielefeld University - Center for Mathematical Economics ( email )

Postfach 10 01 31
Bielefeld, D-33501
Germany

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
31
Abstract Views
514
PlumX Metrics