General Competitive Analysis in an Economy with Private Information
扩展了一般竞争分析，覆盖一个动态纯交换经济，其中偏好冲击是私人观察的。在包含彩票的线性无限维空间中，证明了最优的存在性、竞争均衡的存在性、每个竞争均衡都是最优的，以及每个最优在揭示条件下可支持为竞争均衡。一个例子说明配给和人为风险证券有均衡解释。
General competitive analysis is extended to cover a dynamic, pure-exchange \neconomy with privately observed shocks to preferences. In \nthe linear, infinite-dimensional space containing lotteries we establish \nthe existence of optima, the existence of competitive equilibria, \nthat every competitive equilibrium is an optimum, and, with some \nrevealing qualifications, that every optimum can be supported as a \ncompetitive equilibrium. An example illustrates that rationing and \nsecurities with contrived risk have an equilibrium interpretation.