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dc.contributor.authorGOTTARDI, Piero
dc.contributor.authorRAHI, Rohit
dc.date.accessioned2010-08-27T13:09:40Z
dc.date.available2010-08-27T13:09:40Z
dc.date.issued2010
dc.identifier.issn1725-6704
dc.identifier.urihttp://hdl.handle.net/1814/14440
dc.description.abstractWe study the value of information in a competitive economy in which agents trade in asset markets to reallocate risk. We characterize the kinds of information that allow a welfare improvement when portfolios can be freely reallocated. We then compare competitive equilibria before and after a change in information. We show that generically, if markets are sufficiently incomplete, the welfare effects are completely arbitrary: there typically exist changes in information that make all agents better off, or all agents worse off.en
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.relation.ispartofseriesEUI ECOen
dc.relation.ispartofseries2010/34en
dc.relation.hasversionhttp://hdl.handle.net/1814/33681
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectD52en
dc.subjectD60en
dc.subjectD80en
dc.subjectCompetitive Equilibriumen
dc.subjectIncomplete Marketsen
dc.subjectValue of Informationen
dc.titleValue of Information in Competitive Economies with Incomplete Marketsen
dc.typeWorking Paperen
dc.neeo.contributorGOTTARDI|Piero|aut|EUI70004
dc.neeo.contributorRAHI|Rohit|aut|
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