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Competitive Equilibrium of the Stock Exchange and Pareto Efficiency

In: Allocation under Uncertainty: Equilibrium and Optimality

Author

Listed:
  • Louis Gevers

    (Core)

Abstract

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.

Suggested Citation

  • Louis Gevers, 1974. "Competitive Equilibrium of the Stock Exchange and Pareto Efficiency," International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 10, pages 167-191, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-01989-2_10
    DOI: 10.1007/978-1-349-01989-2_10
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    Citations

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    Cited by:

    1. Hervé Crès & Mich Tvede, 2011. "Production externalities: internalization by voting," SciencePo Working papers Main hal-00972983, HAL.
    2. Marc Oliver Bettzüge & Thorsten Hens & Michael Zierhut, 2022. "Financial intermediation and the welfare theorems in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 73(2), pages 457-486, April.
    3. Hervé Crès & Mich Tvede, 2004. "The Drèze and Grossman-Hart criteria for production in incomplete markets: Voting foundations and compared political stability," Working Papers hal-00591676, HAL.
    4. Hervé Crès & Mich Tvede, 2009. "Production in incomplete markets: Expectations matter for political stability," SciencePo Working papers Main hal-01022731, HAL.
    5. Frank Milne, 1981. "The firm's objective function as a collective choice problem," Public Choice, Springer, vol. 37(3), pages 473-486, January.
    6. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
    7. Hervé Crès & Mich Tvede, 2013. "Production externalities: internalization by voting," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 53(2), pages 403-424, June.
    8. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
    9. Crès, Hervé & Tvede, Mich, 2009. "Production in incomplete markets: Expectations matter for political stability," Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 212-222, March.
    10. John A. Weymark, 1979. "Optimality Conditions for Public and Private Goods," Public Finance Review, , vol. 7(3), pages 338-351, July.
    11. Malenko, Nadya & Levit, Doron & Maug, Ernst, 2021. "The voting premium," CEPR Discussion Papers 15718, C.E.P.R. Discussion Papers.
    12. Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," Working Papers hal-00587205, HAL.
    13. Hervé Crès & Mich Tvede, 2009. "Production in incomplete markets: Expectations matter for political stability," SciencePo Working papers hal-01022731, HAL.
    14. Hervé Crès & Mich Tvede, 2011. "Production externalities: internalization by voting," SciencePo Working papers hal-00972983, HAL.
    15. Michael Zierhut, 2017. "Constrained efficiency versus unanimity in incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 23-45, June.
    16. Ritzberger, Klaus, 2005. "Shareholder voting," Economics Letters, Elsevier, vol. 86(1), pages 69-72, January.

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