No-arbitrage condition and existence of equilibrium with dividends

Authors: Nguyễn Bá Minh, Lê Văn Cường,

https://doi.org/10.1016/j.jmateco.2006.05.010

Publisher, magazine: ,

Publication year: 2007

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Abstract

In this paper we first give an elementary proof of existence of equilibrium with dividends in an economy with possibly satiated consumers. We then introduce a no-arbitrage condition and show that it is equivalent to the existence of equilibrium with dividends.

Tags: No-arbitrage condition; Nonsatiation; Equilibrium with dividends; Walras equilibrium