Journal article
Aggregate preferred correspondence and the existence of a maximin REE
Journal of mathematical analysis and applications, Vol.414(1), pp.29-45
06/01/2014
DOI: 10.1016/j.jmaa.2013.12.046
Abstract
A general model of a pure exchange differential information economy is studied. In this economic model, the space of states of nature is a complete probability measure space, the space of agents is a finite measure space, and the commodity space is the Euclidean space. Under some appropriate and standard assumptions on agents' characteristics, results on continuity and measurability of the aggregate preferred correspondence similar to that of Aumann [8] are established. These results together with other techniques are then employed to prove the existence of a maximin rational expectations equilibrium (maximin REE) of the economic model.
Details
- Title: Subtitle
- Aggregate preferred correspondence and the existence of a maximin REE
- Creators
- Anuj Bhowmik - Auckland University of TechnologyJiling Cao - Auckland University of TechnologyNicholas C. Yannelis - University of Iowa
- Resource Type
- Journal article
- Publication Details
- Journal of mathematical analysis and applications, Vol.414(1), pp.29-45
- DOI
- 10.1016/j.jmaa.2013.12.046
- ISSN
- 0022-247X
- eISSN
- 1096-0813
- Publisher
- Elsevier Inc
- Language
- English
- Date published
- 06/01/2014
- Academic Unit
- Economics
- Record Identifier
- 9984380409502771
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