We prove that in smooth Markovian continuous-time economies with potentially complete asset markets, Radner equilibria with endogenously complete markets exist.Potentially complete market, Continuous-time financial market, Radner equilibrium, Itô diffusion, Analytic transition density

Frank Riedel

Frederik Herzberg

English

Research Papers in Economics

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Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets

http://www.imw.uni-bielefeld.de/papers/files/imw-wp-443.pdf

Existence of Financial Equilibria in Continuous Time with Potentially Complete Markets

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Research Papers in Economics