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Incomplete Markets, Allocative Efficiency and the Information Revealed by Prices

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Abstract

In this paper we compare rational expectations equilibria with different degrees of information revelation through prices. These equilibria arise in a two-period exchange economy with finitely many states and signals, multiple commodities and incomplete f
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hal-00601867 , version 1 (21-06-2011)

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  • HAL Id : hal-00601867 , version 1

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Alessandro Citanna, Antonio Villanacci. Incomplete Markets, Allocative Efficiency and the Information Revealed by Prices. 1997. ⟨hal-00601867⟩

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