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Efficiency, Quality of Forecasts and Radner Equilibria
http://hdl.handle.net/2261/00079321
http://hdl.handle.net/2261/00079321a27451de-8dee-4a21-bf6c-3a59371bb8b0
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
cb-wp024.pdf (212.6 kB)
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| Item type | テクニカルレポート / Technical Report(1) | |||||
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| 公開日 | 2020-06-24 | |||||
| タイトル | ||||||
| タイトル | Efficiency, Quality of Forecasts and Radner Equilibria | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| 著者 |
Chatterji, Shurojit
× Chatterji, Shurojit× Kajii, Atsushi |
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| 著者所属 | ||||||
| 著者所属 | Singapore Management University | |||||
| 著者所属 | ||||||
| 著者所属 | Kwansei Gakuin University | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | We study a simple two period economy with no uncertainty and complete markets where agents trade based on forecasts about the second period spot price. We propose as our solution concept a set of forecasts with the following properties: there exist (heterogenous) forecasts contained in this set that lead to efficient allocations, the set contains only those forecasts that correspond to some efficient equilibrium, and finally that the forecasts assign positive probability to the actual market clearing spot price. We call such a set of prices an efficient equilibrium with ambiguity, and interpret it as a generalization of Radner equilibrium that delivers efficient allocations under forecasts that possess a self-fulfilling property that is weaker than perfect foresight. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | Publiser's another name: JSPS Grants-in-Aid for Scientific Research (S) Central Bank Communication Design | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | JEL classi cation numbers : D51, D53, D61 |
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| 書誌情報 |
Working Papers on Central Bank Communication 巻 024, 発行日 2020-06-23 |
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| 著者版フラグ | ||||||
| 値 | publisher | |||||
| 出版者 | ||||||
| 出版者 | Research Project on Central Bank Communication | |||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.centralbank.e.u-tokyo.ac.jp/en/category/research-data/ | |||||
| 関連名称 | http://www.centralbank.e.u-tokyo.ac.jp/en/category/research-data/ | |||||
