Sunspots, whether they are risk or uncertainty, cannot matter in the static Arrow-Debreu economy
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More about this item
Keywords
Extrinsic uncertainty; Knightian uncertainty; Arrow-Debreu economy; Rational expectations equilibrium.;All these keywords.
JEL classification:
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
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