Autori: Rahi, Rohit , Gottardi, Piero
Titolo: Risk-Sharing and Retrading in Incomplete Markets
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 2012 - Fascicolo: 3 - Pagina iniziale: 1 - Pagina finale: 18

At a competitive equilibrium of an incomplete-markets economy agents’ marginal valuations for the tradable assets are equalized ex-ante. We characterize the finest partition of the state space conditional on which this equality holds for any economy. This leads naturally to a necessary and sufficient condition on information that would lead to retrade, if such information were to become publicly available after the initial round of trade.


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