| EXISTENCE OF COMPETITIVE EQUILIBRIUM OF LARGE SECURITY-SPOT MARKET WITH INCOMPLETE ASSET STRUCTURE |
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| 作者姓名： | Guosheng ZHANG |
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| 作者单位： | School of International Trade and Economics, Beijing International Studies University, Beijing 100024, China. |
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| 基金项目： | The research is supported by Funding Project for Academic Human Resources Development in Institutions of Higher Learning Under the Jourisdiction of Beijing Municipality. |
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| 摘 要： | With the concept of security-spot market or security market with measurable space of agents, which was first given by Zhang （1998, 2000）, we continue to discuss the existence of equilibrium in such large economies. Under common conditions, we have claimed the existence of equilibrium in incomplete security-spot market with a continuum of traders. Because of the development from complete market to incomplete market, we have not only generalized Aumann＇s results in 1966, but also achieved a breakthrough on researching methods.
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| 关 键 词： | 存在性 竞争平衡 市场 经济 资产结构 |
| 收稿时间： | 27 October 2005 |
| 修稿时间： | 2005-10-27 |
Existence of Competitive Equilibrium of Large Security-Spot Market with Incomplete Asset Structure |
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| Guosheng ZHANG.EXISTENCE OF COMPETITIVE EQUILIBRIUM OF LARGE SECURITY-SPOT MARKET WITH INCOMPLETE ASSET STRUCTURE[J].Journal of Systems Science and Complexity,2007,20(3):386-396. |
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| Authors: | Guosheng Zhang |
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| Institution: | (1) School of International Trade and Economics, Beijing International Studies University, Beijing, 100024, China |
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| Abstract: | With the concept of security-spot market or security market with measurable space of agents, which was first given by Zhang
(1998, 2000), we continue to discuss the existence of equilibrium in such large economies. Under common conditions, we have
claimed the existence of equilibrium in incomplete security-spot market with a continuum of traders. Because of the development
from complete market to incomplete market, we have not only generalized Aumann’s results in 1966, but also achieved a breakthrough
on researching methods.
The research is supported by Funding Project for Academic Human Resources Development in Institutions of Higher Learning Under
the Jourisdiction of Beijing Municipality. |
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| Keywords: | Equilibrium incomplete asset structure large economy security-spot market with measurable space of agents |
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