No trade in financial markets with uncertainty
نویسندگان
چکیده
In this paper a Radner economy is considered with Uncertainty, modeled by means of the Choquet Expected Utility. Agents are split into two categories: optimists, who hold a concave capacity, and pessimists, who hold a convex one. A no trade theorem is stated and proved under the assumption of common beliefs with uncertainty.
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تاریخ انتشار 2001