The Structure of Equilibrium in an Asset Market with Variable…英文精品课件.pdfVIP

The Structure of Equilibrium in an Asset Market with Variable Supply Manfred Nermuth Department of Economics, University of Vienna Hohenstaufengasse, 9. A-1010 Vienna (Austria) ∗ February 9, 2007 Abstract We characterize the structure of Nash equilibria in asset market games with variable asset supply. In equilibrium, different assets have different returns, and (risk neutral) investors with different