Computing Equilibria when Asset Markets are Incomplete
指出不完整市场均衡存在性问题源于需求函数在资产冗余价格处不连续，通过允许代理人引入新资产消除不连续，从而用路径跟踪法证明存在性并计算数值例子。
Existence of equilibrium with incomplete markets is problematic because demand functions are typically not continuous. Discontinuities occur at prices for which a marketed asset suddenly becomes redundant. We show that this discontinuity disappears if we allow an agent in the economy to introduce a new asset when such redundancies occur. This enables us to prove existence with incomplete markets using a standard path-following argument. Hence, available algorithms for path-following in R K can be applied to compute equilibria in the GEI case. We demonstrate this by computing equilibrium for a numerical example.