Zobrazeno 1 - 10
of 13
pro vyhledávání: '"Beate Pilgrim"'
Autor:
Beate Pilgrim, Thorsten Hens
Summary.: We show that for international economies with two countries, in which agents have additively separable utility functions, the existence of sunspot equilibria is equivalent to the occurrence of the transfer paradox. This equivalence enables
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::6f9d5d1e6539aff11dedac78e3e5e6df
http://doc.rero.ch/record/317141/files/199_2004_Article_521.pdf
http://doc.rero.ch/record/317141/files/199_2004_Article_521.pdf
Autor:
Thorsten Hens, Beate Pilgrim
The purpose of this book is to give a sound economic foundation of finance. Finance is a coherent branch of applied economics that is designed to understand financial markets in order to give advice for practical financial decisions. This book argues
Autor:
Beate Pilgrim
Publikováno v:
Research in Economics. 56:143-156
This paper contains two examples to prove the non-equivalence of uniqueness of competitive equilibria in complete and in incomplete market models. They show that even if an equilibrium is unique for complete markets, this property can be violated for
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::e2bfa45d833fd6755f07fa2ff4e31279
https://doi.org/10.1006/reec.2001.0272
https://doi.org/10.1006/reec.2001.0272
Publikováno v:
Essays in Dynamic General Equilibrium Theory ISBN: 3540222677
We consider economies with additively separable utility functions and give conditions for the two-agents case under which the existence of sunspot equilibria is equivalent to the occurrence of the transfer paradox. This equivalence enables us to show
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::b822be8015c6f2d8b82ea7c1bbba1647
http://hdl.handle.net/11250/163699
http://hdl.handle.net/11250/163699
Publikováno v:
SSRN Electronic Journal.
We consider economies with additively separable utility functions and give conditions for the two-agents case under which the existence of sunspot equilibria is equivalent to the occurrence of the transfer paradox. This equivalence enables us to show
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::79c91fe118d2a2cb6f48ea7e94415c5f
https://doi.org/10.2139/ssrn.555698
https://doi.org/10.2139/ssrn.555698
Autor:
Beate Pilgrim, Thorsten Hens
Publikováno v:
General Equilibrium Foundations of Finance ISBN: 9781441953339
One of the main issues in finance is to provide models which explain how agents make portfolio decisions. Moreover, by means of these models the equilibrium consequences in markets where every agent follows such decision rules can be analyzed. The Ca
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::c3c5cbd42cb107b499893e0aea4a440d
https://doi.org/10.1007/978-1-4757-5317-2_1
https://doi.org/10.1007/978-1-4757-5317-2_1
Autor:
Thorsten Hens, Beate Pilgrim
Publikováno v:
Theory and Decision Library ISBN: 9781441953339
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::81f9ef5be158f92dd8c4eea862a1e398
https://doi.org/10.1007/978-1-4757-5317-2
https://doi.org/10.1007/978-1-4757-5317-2
Autor:
Beate Pilgrim, Thorsten Hens
Publikováno v:
General Equilibrium Foundations of Finance ISBN: 9781441953339
The purpose of this chapter is to give an overview of various conditions on consumers’ characteristics in an Arrow-Debreu economy which imply uniqueness of the equilibrium. Understanding these conditions in the complete markets case of the GEI-mode
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::992d5d18195cbced8d17324a62da5ea9
https://doi.org/10.1007/978-1-4757-5317-2_5
https://doi.org/10.1007/978-1-4757-5317-2_5
Autor:
Beate Pilgrim, Thorsten Hens
Publikováno v:
General Equilibrium Foundations of Finance ISBN: 9781441953339
The study of uniqueness in the Finance GEI-model done in this chapter can be divided into several parts.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::b73cca7932fa26288d55c433d1654ada
https://doi.org/10.1007/978-1-4757-5317-2_6
https://doi.org/10.1007/978-1-4757-5317-2_6
Autor:
Beate Pilgrim, Thorsten Hens
Publikováno v:
General Equilibrium Foundations of Finance ISBN: 9781441953339
Finance is built on the assumption of complete rationality. The absence of arbitrage based on the utility maximization principle is then the most fundamental insight of this theory. Therefore it is important to know that, as we have shown in Chapter
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::d933044148ec8695c6d4784df0af624f
https://doi.org/10.1007/978-1-4757-5317-2_3
https://doi.org/10.1007/978-1-4757-5317-2_3