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In: Journal of political economy, Band 69, Heft 5, S. 490-492
ISSN: 1537-534X
In: Journal of political economy, Band 69, Heft 5, S. 493-493
ISSN: 1537-534X
In: Contributions to Economics; Ambivalent Joint Production and the Natural Environment, S. 255-289
In: Journal of political economy, Band 68, Heft 5, S. 435-468
ISSN: 1537-534X
In: Environmental and resource economics, Band 40, Heft 2, S. 177-193
ISSN: 1573-1502
In: The B.E. journal of theoretical economics, Band 15, Heft 1
ISSN: 1935-1704
AbstractIt is well known that externalities cause fundamental non-convexity problems in the production set. We demonstrate that the differentiable approach is a proper tool. Existence of equilibrium obtains without requiring aggregate convexity in consumption or production. Our model allows general externalities in consumption and production and also price dependency.
In: The Canadian Journal of Economics, Band 12, Heft 4, S. 677
In: Economica, Band 39, Heft 154, S. 160
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Working paper
In: USC-INET Research Paper No. 17-30
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Working paper
In: Economica, Band 86, Heft 344, S. 832-853
ISSN: 1468-0335
This paper investigates the economics of uncertainty using a state‐contingent approach with a focus on the role of non‐convexity. Under efficiency, the slopes of a separating hypersurface measures state‐contingent prices. As argued by Yaari, normalized state‐contingent prices provide a measure of subjective probabilities. But efficiency under non‐convexity can require non‐linear pricing. The analysis identifies non‐convexity conditions under which probability assessments are not appropriate. Implications for economic and welfare analysis under uncertainty are discussed.
In: The American economist: journal of the International Honor Society in Economics, Omicron Delta Epsilon, Band 19, Heft 1, S. 10-18
ISSN: 2328-1235
In: Economica, Band 86, Heft 344, S. 832-853
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In: Ensaios Economicos No. 567
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Working paper
In: ENCYCLOPEDIA OF QUANTITATIVE FINANCE, R. Cont, ed., Wiley, 2009
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