Incomplete markets with discontinuous preferences

Guangsug Hahn; Konrad Podczeck; Nicholas C. Yannelis

doi:10.1016/j.jmateco.2026.103300

Back

Incomplete markets with discontinuous preferences

Journal article

Peer reviewed

Incomplete markets with discontinuous preferences

Guangsug Hahn, Konrad Podczeck and Nicholas C. Yannelis

Journal of mathematical economics, Vol.127(December 2026), 103300

09/15/2026

DOI: 10.1016/j.jmateco.2026.103300

View Online

Abstract

We prove the existence of a competitive equilibrium in an exchange economy with incomplete markets, where preferences may be discontinuous, non-ordered, price-dependent, and interdependent (externalities allowed), and no survival or interiority of the initial endowments assumption is imposed. Thus, we bring the existence of an equilibrium with incomplete asset markets to the “state of the art” level.

Continuous inclusion property

Discontinuous preferences

Incomplete markets

Details

Title: Subtitle: Incomplete markets with discontinuous preferences
Creators: Guangsug Hahn - Seoul National University
Konrad Podczeck - Institut für Volkswirtschaftslehre, Universität Wien, Oskar-Morgestern-Plaz 1, Austria
Nicholas C. Yannelis - University of Iowa
Resource Type: Journal article
Publication Details: Journal of mathematical economics, Vol.127(December 2026), 103300
DOI: 10.1016/j.jmateco.2026.103300
ISSN: 0304-4068
eISSN: 1873-1538
Publisher: Elsevier B.V
Language: English
Date published: 09/15/2026
Academic Unit: Economics
Record Identifier: 9985231343102771

Metrics

1 Record Views