Default and Ambiguity

1.
Incomplete Markets:

1.1. Radner Savings
1.2. Hart counterexample
1.3. Numerical and nominal assets
1.4. Default and penalties
1.5. Collateral
1.6. Bankruptcy

2. Savings with an infinite number of goods:

2.1. Bewley’s theorem
2.2. Relationship between myopia, impatience and balance

3. Theory of choice: decision theory

3.1. St. Petersburg Paradox
3.2. von Neumann-Morgenstern representation
3.3. Savage Representation
3.4. Allais and Ellsberg Paradoxes
3.5 Ascombe-Aumann Representation
3.6. Gilboa-Schmeidler Representation
3.7. Schmeidler representation

Referências:
ARAUJO, ALOISIO P., E MARIO R. PASCOA. “Bancruptcy in a model of unsecured claims.” Economic Theory 20.3 (2002): 455-481.
BEWLEY, TRUMAN F. “Existence of equilibria in economies with infinitely many commodities.” Journal of Economic Theory 4.3 (1972): 514-540.
DE CASTRO, LUCIANO I., E JOSE HELENO FARO. Introdução à teoria da escolha. IMPA, 2005.
DUBEY, PRADEEP, JOHN GEANAKOPLOS, E MARTIN SHUBIK. “Default and punishment in general equilibrium 1.” Econometrica 73.1 (2005): 1-37.
GEANAKOPLOS, JOHN, E WILLIAM R. ZAME. “Collateral equilibrium, I: a basic framework.” Economic Theory 56.3 (2014): 443-492.
MAS-COLELL, ANDREU, E WILLIAM R. ZAME. “Equilibrium theory in infinite dimensional spaces.” Handbook of mathematical economics 4 (1991): 1835-1898.

 

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