Catálogo de publicaciones - libros

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Fifty years ago Arrow [] introduced contingent commodities and Debreu [] observed that this reinterpretation of a commodity was enough to apply the existing general equilibrium theory to uncertainty and time. This interpretation of general equilibrium theory is the Arrow-Debreu model. The complete market predicted by this theory is clearly unrealistic, and Radner [] formulated and proved existence of equilibrium in a multiperiod model with incomplete markets.

In this paper the Radner result is extended. Radner assumed a specific structure of markets, independence of preferences, indifference of preferences, and total and transitive preferences. All of these assumptions are dropped here. We — like Radner — keep assumptions implying compactness.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.