Nonexistence of constrained efficient equilibria when markets are incomplete

Econometrica

Volumn 70, Issue 3, 2002, Pages 1245-1251

  Dierker, Egbert ^a   Dierker, Hildegard ^a   Grodal, Birgit ^b  

^a UNIVERSITY OF VIENNA   (Austria)

^b UNIVERSITY OF COPENHAGEN   (Denmark)

Author keywords

[No Author keywords available]

Indexed keywords

BUDGET CONTROL; DECISION MAKING; INSURANCE; MARKETING; PLANNING; RESOURCE ALLOCATION;

ENDOWMENTS; PRODUCTION PLANS; SHAREHOLDERS; ZERO PROFIT;

ECONOMICS;

EID: 0036096506     PISSN: 00129682     EISSN: None     Source Type: Journal    
DOI: 10.1111/1468-0262.00326     Document Type: Article

References (7)

1. A difficulty in the concept of social welfare
2. Incomplete markets and the firm
3. Investment under private ownership: Optimality, equilibrium and stability
4. Generic inefficiency of stock market equilibrium when markets are incomplete
5. Pareto optimality in non-convex economics