Condie, S and Ganguli, JV (2011) Ambiguity and Rational Expectations Equilibria. The Review of Economic Studies, 78 (3). pp. 821-845. DOI https://doi.org/10.1093/restud/rdq032
Condie, S and Ganguli, JV (2011) Ambiguity and Rational Expectations Equilibria. The Review of Economic Studies, 78 (3). pp. 821-845. DOI https://doi.org/10.1093/restud/rdq032
Condie, S and Ganguli, JV (2011) Ambiguity and Rational Expectations Equilibria. The Review of Economic Studies, 78 (3). pp. 821-845. DOI https://doi.org/10.1093/restud/rdq032
Abstract
This paper demonstrates the existence and robustness of partially revealing rational expectations equilibria in general exchange economies when some traders have non-smooth ambiguity-averse preferences. This finding illustrates that models with non-smooth ambiguity aversion provide a relatively tractable framework through which partial information revelation may be studied in a general equilibrium setting without relying on particular distributional or von Neumann-Morgenstern utility assumptions or the presence of "noise." © The Author 2011. Published by Oxford University Press on behalf of The Review of Economic Studies Limited.
Item Type: | Article |
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Uncontrolled Keywords: | Ambiguity; Rational expectations equilibria; Partial revelation |
Subjects: | H Social Sciences > HB Economic Theory |
Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 14 Feb 2013 16:16 |
Last Modified: | 16 May 2024 16:57 |
URI: | http://repository.essex.ac.uk/id/eprint/5634 |