Comparative Statics of Oligopoly Equilibrium in a Pure Exchange Economy

2011 ◽  
Author(s):  
Somdeb Lahiri
Keyword(s):  
Exchange Economy ◽  
Comparative Statics ◽  
Pure Exchange ◽  
Pure Exchange Economy

AN ECONOMIC PREMIUM PRINCIPLE UNDER THE DUAL THEORY OF THE SMOOTH AMBIGUITY MODEL

2017 ◽  
Vol 47 (3) ◽  
pp. 787-801 ◽  
Author(s):  
Yoichiro Fujii ◽  
Hideki Iwaki ◽  
Yusuke Osaki
Keyword(s):  
Ambiguity Aversion ◽  
Sufficient Conditions ◽  
Exchange Economy ◽  
Comparative Statics ◽  
Ambiguous Loss ◽  
Dual Theory ◽  
Demand For Insurance ◽  
Smooth Ambiguity Model ◽  
Pure Exchange ◽  
Pure Exchange Economy

AbstractThis study considers a pure exchange economy with insurance against ambiguous loss. Ambiguity preferences are represented by the dual theory of the smooth ambiguity model from Iwaki and Osaki (2014). The economic premium principle of Bühlmann (1980, 1984) is extended to ambiguity. We also perform some comparative statics and present sufficient conditions under which an increase in ambiguity aversion increases insurance demand and insurance premiums. Contrary to the result in Tsanakas and Christofides (2006), the optimal demand for insurance is not always comonotonic, because our model permits an economy comprising both ambiguity averse and ambiguity loving agents.

A Competitive Equilibrium Model for a Pure Exchange Economy with its Variational Formulation: A Brief Overview

2009 ◽  
Author(s):  
Carmela Vitanza ◽  
Maria Bernadette Donato ◽  
Monica Milasi ◽  
Theodore E. Simos ◽  
George Psihoyios ◽  
...  
Keyword(s):  
Equilibrium Model ◽  
Variational Formulation ◽  
Competitive Equilibrium ◽  
Exchange Economy ◽  
Pure Exchange ◽  
Pure Exchange Economy
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