Sharing risk and ambiguity

被引：17
|
作者：
Rigotti, Luca [2 ]
Shannon, Chris [1 ]
机构：
[1] Univ Calif Berkeley, Dept Econ, Berkeley, CA USA
[2] Univ Pittsburgh, Dept Econ, Pittsburgh, PA 15260 USA
来源：
JOURNAL OF ECONOMIC THEORY | 2012年 / 147卷 / 05期
关键词：
Ambiguity; General equilibrium theory; Financial markets; Determinacy of equilibria; Variational preferences; Multiple priors; UNCERTAINTY AVERSION; EXPECTED UTILITY; EQUILIBRIA; RULES;
D O I：
10.1016/j.jet.2012.05.009
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study the market implications of ambiguity in common models. We show that generic determinacy is a robust feature in general equilibrium models that allow a distinction between ambiguity and risk. (C) 2012 Elsevier Inc. All rights reserved.
引用
收藏
页码：2028 / 2039
页数：12
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