1974 | OriginalPaper | Chapter
Competitive Equilibrium of the Stock Exchange and Pareto Efficiency
Author : Louis Gevers
Published in: Allocation under Uncertainty: Equilibrium and Optimality
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The simplest model of a productive economy is based on the following assumptions: agents live only for one period, they take input and output prices as given, and production involves no risks.