On the revelation of private information in stock market economies

Article Abstract:

Stock market economies do not necessitate the cognizance of the functional association between the equilibrium price and the agents' non-price data when the only private information available is that which pertains to the firms' technologies. The same is true when these available private data are utilized by company managers to implement their optimization programs and when other agents are only concerned about company revenues. However, the capability to speculate non-price information through the market price is necessary for consumers with private information.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Economic aspects, Stock-exchange, Stock exchanges, Exchanges, Information theory

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The graphs of the Walras correspondence: the production economies case

Article Abstract:

An analysis of the graph of the Walras correspondence is presented. The Walras correspondence links a given equilibrium set to an economy similar to models of exchange economies. Such an economy may be restricted by parameters of initial consumer endowment. The analysis focuses on the correspondence's topological properties to economies of production. It is shown that connectedness and simple connectedness applies under convexity assumptions for the production sector.

Research, Analysis, Production (Economics), Walrasian model

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