Titlebook: Allocation under Uncertainty: Equilibrium and Optimality; Jacques H. Drèze Book 1974 Palgrave Macmillan, a division of Macmillan Publisher

Militia

Mutter

Louise Bøttcher,Jesper Dammeyerw, which has been advanced by Hirshleifer [7, 8] and supported by Diamond [6], is that differences in rates of return on capital in the private sector of the economy reflect differences in riskiness among alternative lines of investment, and that these differences are of normative significance for t

Irrepressible

Louise Bøttcher,Jesper Dammeyerket and to find how these equilibria are linked together’ (Grandmont [11]). This analysis has been advanced, in particular, by Hicks in his book Value and Capital [13] under the name, temporary equilibrium within a ‘week’. In this paper both terms are used synonymously.

人工制品

压舱物

achlorhydria

Contributions to Management ScienceIn a market with ‘many’ traders who bear risks, there is the possibility of pooling their independent risks and in this way to eliminate traders’ risks. There is a benefit from trade, and the way this benefit is divided between the traders depends on the system of exchange.

公理

https://doi.org/10.1007/978-981-33-6865-1The theory of equilibrium and efficiency of resource allocation, initially developed for a world of certainty, has been reinterpreted for a world of uncertainty, thanks to a suggestion made by Arrow [1] and pursued further by Debreu [7].

不法行为

infelicitous

Louise Bøttcher,Jesper DammeyerA model of an exchange economy is presented where money is the only asset. It is shown that, under some assumptions, a short-run equilibrium exists if the traders’ price expectations do not depend ‘too much’ on current prices.

EXPEL

Communication and Communicative AidsThis paper is devoted to proving a more general version of proposition 2.1 of [6]. For any unexplained notion we refer to Dieter Sondermann’s paper [6].