Rational Expectations Equilibrium in Economies with Uncertain Delivery
作者： Carlos Hervés-Beloso , Joao Correia-da-Silva
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摘要: In economies with uncertain delivery, objects of choice are lists bundles instead bundles. Agents trade their endowments for lists, and it is the market that selects one in list actual delivery. Knowledge selection mechanism allows agents to predict bundle be selected each state nature. A small but informed agent introduced economy order guarantee existence a rational expectations equilibrium.
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