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Article Dans Une Revue Journal of Mathematical Economics Année : 2015

Regular economies with ambiguity aversion

Résumé

We consider a family of exchange economies with complete markets where consumers have multiprior preferences representing their ambiguity aversion. Under a linear independence assumption, we prove that regular economies are generic. Regular economies exhibit enjoyable properties: odd finite number of equilibrium prices, local constancy of this number, local differentiable selections of the equilibrium prices. Thus, even if ambiguity aversion is represented by non-differentiable multiprior preferences, economies retain generically the properties of the differentiable approach.
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Dates et versions

halshs-01185486 , version 1 (20-08-2015)

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Noé Biheng, Jean-Marc Bonnisseau. Regular economies with ambiguity aversion. Journal of Mathematical Economics, 2015, 59, pp.24-36. ⟨10.1016/j.jmateco.2015.04.004⟩. ⟨halshs-01185486⟩
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