No hard triggers under speculation ? (
نویسندگان
چکیده
منابع مشابه
No speculation in rational expectations under generalized information
Let us consider a pure exchange economy under non-partitional information where the traders are assumed to have a reflexive and transitive information structure and to have strictly monotone preferences. We show the no speculation theorem: If the initial endowment is ex-ante Pareto optimal then there exists no other rational expectations equilibrium for any price with respect to which all trade...
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