Sperner's lemma and competitive equilibrium with incomplete financial markets
Publication Name
Economics Letters
Abstract
We establish the existence of a competitive equilibrium in a two-period stochastic economy with incomplete financial markets by using Sperner's lemma. Our existence result covers (but is not limited to) several results in the literature, including the cases of nominal and numéraire assets. Moreover, there may exist a continuum of equilibrium prices.
Open Access Status
This publication is not available as open access
Volume
238
Article Number
111720