No Arbitrage Condition And Existence Of Equilibrium In Infinite Or Finite Dimension With Expected Risk Averse Utilities
The authors consider a general equilibrium model in asset markets with a countable set of states and expected risk averse utilities. The agents do not have the same beliefs. They use the methods in Le Van - Truong Xuan (JME, 2001) but one of their assumption which is crucial for obtaining their result cannot be accepted in this model when the number of states is countable. They give a proof of existence of equilibrium when the number of states is infinite or finite.