Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets

Posted: 29 Jan 2014

See all articles by Frank Riedel

Frank Riedel

Bielefeld University - Center for Mathematical Economics

Frederik Herzberg

Bielefeld University - Center for Mathematical Economics

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Date Written: January 28, 2014

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

Suggested Citation

Riedel, Frank and Herzberg, Frederik, Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets (January 28, 2014). Journal of Mathematical Economics, Vol. 49, No. 5, 2013, Available at SSRN: https://ssrn.com/abstract=2386647

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

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