We combine the study of decision under uncertainty and the analysis of economies under uncertainty and asymmetric information. We carry out comparative static exercises: we show that the set of competitive equilibria expands as ambiguity aversion increases; while the set of efficient allocations is not affected by agents' attitude towards ambiguity
Equilibrium Analysis Under Ambiguity / Pesce, Marialaura. - (2015). (Intervento presentato al convegno 56th Annual Conference Italian Economic Association tenutosi a University Parthenope, Naples nel 22-24 ottobre 2015).
Equilibrium Analysis Under Ambiguity
PESCE, MARIALAURA
2015
Abstract
We combine the study of decision under uncertainty and the analysis of economies under uncertainty and asymmetric information. We carry out comparative static exercises: we show that the set of competitive equilibria expands as ambiguity aversion increases; while the set of efficient allocations is not affected by agents' attitude towards ambiguityFile in questo prodotto:
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