# Asset equilibria in Lp spaces with complete markets: a duality approach

Article Abstract:

The existence, uniqueness and determinacy problems of Arrow-Debreu equilibrium in Lp spaces are analyzed. The case of agents having Von Neuman-Morgenstern utilities is considered. The set of utility weights supporting Pareto optima is used to simplify proof of the existence of an equilibrium in Lp+ and additively separable utilities. The utility set is shown to be closed.

Publication Name: The Journal of Mathematical Economics

Subject: Mathematics

ISSN: 0304-4068

Year: 1996

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# Is intertemporial choice theory testable?

Article Abstract:

A study proves that the utility maximization do not have any effect on house hold savings decisions and choices of products in market. The study also presents a testing on individual demand data for consistency with maximum utility functions.

Publication Name: The Journal of Mathematical Economics

Subject: Mathematics

ISSN: 0304-4068

Year: 2004

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