Equivalence between equilibria in a production economy with uncertainty

  1. Gutiérrez Díez, Pedro José
  2. López Díaz, Julio
Revista:
Documentos de trabajo FAE ( Universidad de Valladolid. Facultad de Ciencias Económicas y Empresariales )

Año de publicación: 1998

Número: 5

Páginas: 1-15

Tipo: Documento de Trabajo

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Resumen

The relationship between Arrow-Debreu Equilibria and Radner Equilibria is a crucial question when studying general equilibrium models with time and uncertainty, but has been analyzed mainly for pure exchange economies or without considering the production sector decisions. In this paper we study the equivalence between equilibria making the production decisions explicit, and also we point out some questions in the analysis of completeness related to the technological features of the production sector.

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