2005-10-12Buch DOI: 10.18452/3540
Arrow-Debreu Equilibria With Asymptotically Heterogeneous Expectations Exist
In infinite horizon economies only local equivalence of beliefs is needed to ensure the existence of an Arrow–Debreu equilibrium. In fact, agents can even disagree completely in the long run in the sense that asymptotically, their beliefs are singular.
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