HIGHLIGHTS
- who: Ambiguity et al. from the Institute of Mathematical Economics, Bielefeld University and ORFE, Princeton UniversityWe have published the research: Intertemporal Equilibria with Knightian Uncertainty, in the Journal: (JOURNAL)
- what: The authors show that an allocation is efficient if and only if the agents agree on a risk-adjusted prior and an interest rate. The authors provide a new, shorter proof for the existence of equilibria with inertia with the help of an auxiliary utility function which might be useful in other contexts as well.
SUMMARY
The period utility at date . . .
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