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Investment under private ownership: Optimality, equilibrium and stability

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  • DREZE, Jacques H.

Abstract

The theory of equilibrium and efficiency of resource allocation, initially developed for a world of certainty, has been reinterpreted for a world of uncertainty, thanks to a suggestion made by Arrow [1] and pursued further by Debreu [7].2
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • DREZE, Jacques H., 1974. "Investment under private ownership: Optimality, equilibrium and stability," LIDAM Reprints CORE 197, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:197
    Note: In : J.H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality. McMillan, 129-166, 1974
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    Cited by:

    1. repec:spo:wpmain:info:hdl:2441/10284 is not listed on IDEAS
    2. John Geanakoplos, 1989. "An Introduction to General Equilibrium with Incomplete Asset Markets," Cowles Foundation Discussion Papers 919, Cowles Foundation for Research in Economics, Yale University.
    3. Wettstein, David, 1995. "Incentives and competitive allocations in exchange economies with incomplete markets," Journal of Mathematical Economics, Elsevier, vol. 24(3), pages 201-216.
    4. repec:hal:spmain:info:hdl:2441/10284 is not listed on IDEAS
    5. Piero Gottardi & Douglas Gale, 2017. "Equilibrium Theory of Banks' Capital Structure," 2017 Meeting Papers 380, Society for Economic Dynamics.
    6. Chambers, Robert G. & Quiggin, John, 2008. "Narrowing the no-arbitrage bounds," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 1-14, January.
    7. Alberto Bisin & Gian Luca Clementi & Piero Gottardi, 2014. "Capital Structure and Hedging Demand with Incomplete Markets," NBER Working Papers 20345, National Bureau of Economic Research, Inc.
    8. John A. Weymark, 1979. "Optimality Conditions for Public and Private Goods," Public Finance Review, , vol. 7(3), pages 338-351, July.
    9. Pradeep Dubey & John Geanakoplos, 2006. "Money and production, and liquidity trap," International Journal of Economic Theory, The International Society for Economic Theory, vol. 2(3‐4), pages 295-317, September.
    10. repec:hal:spmain:info:hdl:2441/10283 is not listed on IDEAS
    11. Momi, Takeshi, 2001. "Non-existence of equilibrium in an incomplete stock market economy," Journal of Mathematical Economics, Elsevier, vol. 35(1), pages 41-70, February.
    12. Nicolas Caramp & Julian Kozlowski & Keisuke Teeple, 2022. "Liquidity and Investment in General Equilibrium," Working Papers 2022-022, Federal Reserve Bank of St. Louis, revised 07 Jun 2024.
    13. Hnatkovska, Viktoria, 2010. "Home bias and high turnover: Dynamic portfolio choice with incomplete markets," Journal of International Economics, Elsevier, vol. 80(1), pages 113-128, January.
    14. Hart, Oliver D. & Zingales, Luigi, 2022. "The New Corporate Governance," Working Papers 317, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    15. Guido Ruta & Piero Gottardi, 2009. "Equilibrium corporate finance," 2009 Meeting Papers 149, Society for Economic Dynamics.
    16. Egbert Dierker & Hildegard Dierker & Birgit Grodal, 2002. "Nonexistence of Constrained Efficient Equilibria When Markets are Incomplete," Econometrica, Econometric Society, vol. 70(3), pages 1245-1251, May.
    17. S.Y. Wu, 1996. "A General Equilibrium Model of the Three-Sector Competitive Economy," Microeconomics 9603002, University Library of Munich, Germany.
    18. Douglas Gale & Piero Gottardi, 2018. "A General Equilibrium Theory of Capital Structure," 2018 Meeting Papers 264, Society for Economic Dynamics.
    19. Jean‐Jacques Laffont, 1989. "A Brief Overview of the Economics of Incomplete Markets," The Economic Record, The Economic Society of Australia, vol. 65(1), pages 54-65, March.
    20. Brown, Murray & Chiang, Shin-Hwan, 2002. "Unsystematic risk and coalition formation in product markets," International Journal of Industrial Organization, Elsevier, vol. 20(3), pages 313-338, March.
    21. Bisin, Alberto; & Gottardi, Piero; & Ruta, Guido, 2014. "Equilibrium corporate finance and intermediation," Economics Working Papers ECO2014/09, European University Institute.
    22. repec:spo:wpmain:info:hdl:2441/10283 is not listed on IDEAS
    23. Gale, Douglas & Gottardi, Piero, 2020. "A general equilibrium theory of banks' capital structure," Journal of Economic Theory, Elsevier, vol. 186(C).

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