研究者情報 | 神奈川大学

オオタキ　エイセイ Ohtaki Eisei 大滝　英生所属神奈川大学経済学部経済学科/現代ビジネス学科神奈川大学大学院経済学研究科経済学専攻（公共政策コース）職種教授
言語種別	英語
発行・発表の年月	2023/08
形態種別	学術雑誌
査読	査読あり
標題	Optimality in an OLG model with nonsmooth preferences
執筆形態	単著
掲載誌名	International Journal of Economic Theory
掲載区分	国外
出版社・発行元	International Association for Economic Theory
巻・号・頁	19(3),pp.611-659
担当区分	筆頭著者,最終著者,責任著者
著者・共著者	◎Eisei Ohtaki
概要	It is a well-known observation that, in the overlapping generations (OLG) model with the complete market, we can judge optimality of an equilibrium allocation by examining the associated equilibrium price. Motivated by recent development in decision theory under ambiguity, this study reexamines the above observation in a stochastic OLG model with convex but not necessarily smooth preferences. It is shown that optimality of an equilibrium allocation depends on the set of possible supporting prices, not necessarily on the associated equilibrium price itself. Therefore, observations of an equilibrium price do not necessarily tell us precise information on optimality of the equilibrium allocation.
DOI	10.1111/ijet.12371