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Existence, uniqueness and efficiency of equilibrium in hedonic markets with multidimensional types

✍ Scribed by Ivar Ekeland


Publisher
Springer
Year
2008
Tongue
English
Weight
369 KB
Volume
42
Category
Article
ISSN
0938-2259

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Existence and uniqueness of solutions to
✍ Bertram DΓΌring; Ansgar JΓΌngel πŸ“‚ Article πŸ“… 2005 πŸ› Elsevier Science 🌐 English βš– 379 KB

A quasilinear parabolic equation with quadratic gradient terms is analyzed. The equation models an optimal portfolio in so-called incomplete financial markets consisting of risky assets and non-tradable state variables. Its solution allows to compute an optimal portfolio strategy. The quadratic grad