Consider the setting of Sect. 4.1 in the presence of a single good (i.e., (L=1) ). Show
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Consider the setting of Sect. 4.1 in the presence of a single good (i.e., \(L=1\) ). Show that condition (4.1) characterizing an ex-ante Pareto optimal allocation is equivalent to the Borch condition (4.4).
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Financial Markets Theory Equilibrium Efficiency And Information
ISBN: 9781447174042
2nd Edition
Authors: Emilio Barucci, Claudio Fontana
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