Efficiency, quality of forecasts and Radner equilibria
We study a simple two period economy with no uncertainty and complete markets where agents trade based on forecasts about the second period spot price. We propose as our solution concept a set of forecasts with the following properties: there exist (heterogenous) forecasts contained in this set that...
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| Main Authors: | , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2020
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| 在線閱讀: | https://ink.library.smu.edu.sg/soe_research/2510 https://ink.library.smu.edu.sg/context/soe_research/article/3509/viewcontent/cb_wp024_pv.pdf |
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