Endogenous differential information

Sebastián Cea-Echenique, Carlos Hervés-Beloso, Juan Pablo Torres-Martínez

Producción científica: Contribución a una revistaArtículorevisión exhaustiva

4 Citas (Scopus)

Resumen

We include endogenous differential information in a model with sequential trade and incomplete financial participation. Agents update information through market signals given by commodity prices and asset deliveries. Information acts over admissible strategies and consumption tastes, allowing discontinuities in preferences and choice sets. Therefore, equilibrium may cease to exist. However, internalizing the compatibility between information and consumption through preferences, and without requiring either financial survival assumptions or fully revealing prices, equilibrium existence can be ensured.

Idioma originalInglés
Páginas (desde-hasta)51-72
Número de páginas22
PublicaciónEconomic Theory
Volumen63
N.º1
DOI
EstadoPublicada - 1 ene. 2017
Publicado de forma externa

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