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Corrigendum to "Endogenous market incompleteness without market frictions: Dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies"

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posted on 04.04.2019, 16:37 by Stephen Spear, Espen Henriksen
This note corrects an error in the original Henrisksen-Spear paper (published in J. Econ. Theory, Volume 147, Issue 2, March 2012, Pages 426-449) in the proof that the competitive equilibrium in a three-period lived stochastic overlapping generations model is not dynamically Pareto optimal.

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27/03/2019

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