دانلود مقاله ISI انگلیسی شماره 51794
عنوان فارسی مقاله

مفاهیم اصلی برای اقتصاد بازار ناقص

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
51794 2011 15 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
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عنوان انگلیسی
Core concepts for incomplete market economies
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Mathematical Economics, Volume 47, Issues 4–5, August–October 2011, Pages 595–609

کلمات کلیدی
بازارهای ناقص؛ مفاهیم اصلی پویا - زمان و عدم قطعیت
پیش نمایش مقاله
پیش نمایش مقاله مفاهیم اصلی برای اقتصاد بازار ناقص

چکیده انگلیسی

We examine the notion of the core when cooperation takes place in a setting with time and uncertainty. We do so in a two-period general equilibrium setting with incomplete markets. Market incompleteness implies that players cannot make all possible binding commitments regarding their actions at different date-events. We unify various treatments of dynamic core concepts existing in the literature. This results in definitions of the Classical Core, the Segregated Core, the Two-stage Core, the Strong Sequential Core, and the Weak Sequential Core. Except for the Classical Core, all these concepts can be defined by requiring the absence of blocking in period 0 and at any date-event in period 1. The concepts only differ with respect to the notion of blocking in period 0. To evaluate these concepts, we study three market structures in detail: strongly complete markets, incomplete markets in finance economies, and incomplete markets in settings with multiple commodities. Even when markets are strongly complete, the Classical Core is argued not to be an appropriate concept. For the general case of incomplete markets, the Weak Sequential Core is the only concept that does not suffer from major defects.

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